IBC Advanced Alloys Announces C$1.0 Million Non-Brokered Private Placement

IBC Advanced Alloys Announces Amendment of Existing Credit Facilities

1 month ago

IBC Advanced Alloys Reports Financial Results For Quarter Ended March 2025

2 months ago

Highlights of the Quarter and Nine Months Ended March 31, 2025
(Unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars)

IBC is reporting the performance of "continuing operations" at its Copper Alloy division, "discontinued operations" at its Massachusetts facility, and a combination of continuing and discontinued operations.¹

• Copper Alloys division (continuing operations) sales of $13 million in the nine-month period ended March 31, 2025, compared to sales of $18.6 million in the comparable prior-year period. However, 89% of the relative decline, or approximately $5.01 million, was driven by two large, non-recurring orders in the comparative period of fiscal year 2024. The Company's Engineered Materials ("EM") division, where operations ceased and all contracts were completed before June 30, 2024, recorded no sales.

• Continuing operations reported a fiscal year to date ("YTD") operating loss¹ of $735,000 compared to operating income of $1.2 million in the comparative period.

• In the quarter, continuing operations booked positive adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") of $255,000. YTD, Adjusted EBITDA was a loss of $126,000.

• IBC reported a consolidated YTD net loss of $2.3 million ($0.029 per share) for continuing operations, or a loss of $3.2 million including discontinued operations.

IBC Advanced Alloys Reports Financial Results For Quarter Ended December 2024

4 months ago

Highlights of the Six Months Ended December 31, 2024
(Unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars)

IBC is reporting the performance of "continuing operations" at its Copper Alloy division, "discontinued operations" at its Massachusetts facility, and a combination of continued and discontinued operations.¹

• Copper Alloys division (continuing operations) sales of $7.1 million in the six-month period ended December 31, 2024, compared to sales of $12 million in the comparable prior-year period. $3.2 million of the relative decline was primarily driven by two large, non-recurring orders in the comparable period of fiscal year 2024, with the balance due to softer market demand. The Company's Engineered Materials ("EM") division, where operations ceased and all contracts were completed before June 30, 2024, recorded no sales.

• Copper Alloys division's fiscal year to date ("YTD") operating loss¹ of $654,000 compared to operating income of $438,000 in the comparable prior-year period.

• The Copper Alloys division's YTD gross profit declined by 44.4% year-over-year ("Y/Y") while gross margin softened by 4%.

• IBC reported a consolidated YTD net loss of $2.6 million ($0.02 per share).

• The Company will host a live investor webcast to discuss these results on Monday, March 3 at 10 a.m. Eastern.