Empire Industries Reports 2016 Results and Conference Call Information
2016 transformative developments leave Empire focused on high-growth attractions segment
(firmenpresse) - WINNIPEG, MANITOBA -- (Marketwired) -- 04/26/17 -- Empire Industries Ltd. (TSX VENTURE: EIL) today reported its audited consolidated financial results for the year ended December 31, 2016. The audited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at or at .
"2016 was a transformative year for Empire," said Guy Nelson, CEO of Empire Industries. "The spin-out of our Manufactured Products segment (Tornado Global Hydrovacs) into a stand-alone publicly traded company has sharply increased Empire's focus on the Media-based Attractions segment. The fact that we were able to accomplish this with a gain of $3.3 million net of tax meant the transaction had immediate financial value, as well as immediate strategic value. We sharpened our focus further in early 2017, through the re-deployment of our Steel Fabrication segment assets into the Media-based Attractions segment and subsequently have been rightsizing our steel fabrication capacity to match our internal requirements. We are focused on the growth in this marketplace and on leveraging our unique, globally competitive advantages and unique selling proposition."
"We continue to see strong growth in demand as evidenced by the 10 attractions we opened in 2016, and by our record pipeline of proposals outstanding. We also continue to develop promising projects that leverage our Orlando-based Unlimited Attractions™ division's unique skill set in turning ride systems into attractions and applying this to some of our proprietary ride systems. We expect to bring some of these exciting prospects to fruition starting in 2017."
Summary of 2016 consolidated annual results
Conference Call Information
Empire's management team will be holding an investor/analyst conference call to discuss the 2016 results and the outlook for the company. The call-in details are as follows:
Callers should dial in 5 - 10 minutes prior to the scheduled start time and ask to join the Empire Industries 2016 Results Conference Call.
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company has developed, designed and engineered products for the rapidly growing, global, Media-based Attractions market and works with specific clients in this market to execute highly specialized ride systems. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit .
Reader Advisory
This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Guy Nelson
Chief Executive Officer
(416) 366-7977
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 538393
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contact information:
Town:
WINNIPEG, MANITOBA
Kategorie:
Mining & Metals
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