Balchem Corporation Announces Quarterly Conference Call for Fourth Quarter Financial Results on February 27, 2018

NEW HAMPTON, N.Y., Feb. 20, 2018 (GLOBE NEWSWIRE) — Balchem Corporation (NASDAQ:BCPC) today announced that a conference call will be held on Tuesday, February 27, 2018 at 11:00 AM Eastern Time (ET) to review fourth quarter and full year  2017 results.  Ted Harris, Chairman of the Board, CEO and President, Terry Coelho, CFO and Bill Backus, CAO, will host the call.

Fourth quarter results will be published prior to the market opening on Tuesday, February 27, 2018. The press release, and its accompanying financial exhibits, will also be available on the Company website, www.balchem.com, prior to the conference call.

We invite you to listen to the conference by calling toll-free 1-877-407-8289 (local dial-in 1-201-689-8341), five minutes prior to the scheduled start time of the conference call. The conference call will be available for replay two hours after the conclusion of the call through end of day Tuesday, February 27, 2018. To access the replay of the conference call, dial 1-877-660-6853 (local dial-in 1-201-612-7415), and use conference ID #13676648.

About Balchem Corporation

Balchem Corporation develops, manufactures and markets specialty ingredients that improve and enhance the health and well-being of life on the planet, providing state-of-the-art solutions and the finest quality products for a range of industries worldwide. The company reports four business segments: Human Nutrition & Health; Animal Nutrition & Health; Specialty Products; and Industrial Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market. The Industrial Products segment manufactures and supplies certain derivative products into industrial applications.

Contact:   Mary Ann Brush, Executive Assistant to CEO
                  Telephone:  845-326-5600
                  E-mail:  mabrush@balchem.com

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Nutrien Declares Quarterly Dividend of US$0.40 per Share and Announces Intention to Commence Normal Course Issuer Bid

Nutrien Declares Quarterly Dividend of US$0.40 per Share and Announces Intention to Commence Normal Course Issuer Bid

Canada NewsWire

NYSE, TSX: NTR

SASKATOON, Feb. 20, 2018 /CNW/ - Nutrien Ltd. (Nutrien) announced today that its Board of Directors has declared a quarterly dividend of US$0.40 per common share payable on April 20, 2018 to shareholders of record on March 29, 2018. The dividend represents a 27 percent increase from its legacy companies combined payout level. Nutrien will target a stable and growing dividend that represents 40 to 60 percent of free cash flow after sustaining capital through the cycle. 


Nutrien’s Board of Directors also approved the purchase of up to five percent of Nutrien’s outstanding
common shares over a one-year period through a normal course issuer bid (NCIB).

“Today’s announcement reflects the confidence in our business to generate strong and growing free cash flow,” said Nutrien President and Chief Executive Officer Chuck Magro. “Nutrien is the leading global crop input company, with significant leverage to a recovery in agricultural markets and earnings stability from our integrated platform.  We are committed to returning cash to shareholders, while maintaining the financial strength to deliver on growth opportunities that provide superior long-term returns.”

Nutrien intends to file a business acquisition report on EDGAR and SEDAR on February 26, 2018 in connection with the arrangement involving Agrium Inc. and Potash Corporation of Saskatchewan Inc. Pro-forma unaudited consolidated statement of earnings and balance sheet information will be disclosed in this report.


Quarterly Dividend


Registered shareholders who are residents of Canada as reflected in Nutrien’s shareholders register, as well as beneficial holders (i.e. shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depositary Services Inc. or its nominee, CDS & Co., will receive their dividend in Canadian dollars, calculated based on the Bank of Canada daily exchange rate on March 29, 2018. Registered shareholders resident outside of Canada as reflected in Nutrien’s shareholders register, including the United States, as well as beneficial holders whose intermediary is a participant in The Depository Trust Company or its nominee, Cede & Co., will receive their dividend in U.S. dollars. However, registered shareholders of Nutrien may elect to change the currency of their dividend payments to U.S. dollars or Canadian dollars, as applicable. In addition, Nutrien offers registered shareholders direct deposit by electronic funds transfer for dividend payments.

Registered shareholders may elect to change the currency of their dividend and enroll for direct deposit by contacting, Nutrien’s registrar and transfer agent, AST Trust Company (Canada), directly (1-800-387-0825 or inquiries@astfinancial.com). Beneficial shareholders, who hold their shares through a broker, should contact their broker to determine the ability and necessary steps involved in an election to change the currency of their dividend payment. For further details, please visit www.nutrien.com/investors/shareholder-information/dividends.

All dividends paid by Nutrien are, pursuant to subsection 89(14) of the Income Tax Act (Canada), designated as eligible dividends.


Normal Course Issuer Bid


Under the NCIB, purchases may be made through the facilities of the Toronto Stock Exchange (TSX), the New York Stock Exchange or alternative Canadian trading systems or as otherwise permitted by the Canadian Securities Administrators.  Nutrien has received approval of the TSX for the NCIB.  The actual number of common shares that may be purchased under the NCIB and the timing of any such purchases will be determined by Nutrien.  Nutrien believes that, purchasing its own common shares represents an attractive investment opportunity, is in the best interests of the company and is consistent with Nutrien’s objective of delivering a strong return of capital to its shareholders over time.  As of February 12, 2018, Nutrien had 644,198,473 common shares outstanding and therefore under the NCIB Nutrien would be permitted to repurchase up to 32,209,923 of its outstanding common shares.  Common shares purchased under the NCIB will be cancelled.     

The NCIB will be effected in accordance with the TSX’s normal course issuer bid rules and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, which contain restrictions on the number of common shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of Nutrien’s common shares on the applicable exchange. Subject to exceptions for block purchases, Nutrien will limit daily purchases of common shares on the TSX in connection with the NCIB to no more than 25 percent (244,293) of the average daily trading volume of the common shares on the TSX (977,173) during any trading day. Purchases under the NCIB will be made through open market purchases at market price, as well as by other means as may be permitted by applicable securities regulatory authorities, including private agreements. Any purchases made by private agreement under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in any exemption order.  Purchases of common shares may commence on or about February 23, 2018 and will expire on the earlier of February 22, 2019, the date on which the company has acquired the maximum number of common shares allowable or otherwise decides not to make any further repurchases. Nutrien intends to enter into an automatic purchase plan with a broker which will enable Nutrien to provide standard instructions and purchase common shares on the open market during self-imposed blackout periods. Outside of these black-out periods, common shares may be purchased in accordance with management’s discretion.


About Nutrien


Nutrien is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute over 26 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders. For further information visit us at www.nutrien.com.



Forward-Looking Statements







Certain statements and other information included in this press release constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). All statements in this press release, other than those relating to historical information or current conditions, are forward-looking statements, including, but not limited to Nutrien’s intention to commence an NCIB and, if accepted by the TSX, the timing, methods and quantity of any purchases of common shares under the NCIB, and the date of the filing of Nutrien’s business acquisition report.


Forward‐looking statements in this press release are based on certain key expectations and assumptions made by Nutrien, including expectations and assumptions concerning: Nutrien’s views with respect to its financial condition and prospects, the stability of general economic and market conditions, currency exchange rates and interest rates, the availability of cash for repurchases of common shares under the NCIB, the existence of alternative uses for Nutrien’s cash resources and compliance with applicable laws and regulations pertaining to an NCIB. Although Nutrien believes that the expectations and assumptions on which such forward‐looking statements are based are reasonable, undue reliance should not be placed on the forward‐looking statements because Nutrien can give no assurance that they will prove to be correct.


Forward-looking statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this press release. The key risks and uncertainties include, but are not limited to: Nutrien’s future capital requirements, market and general economic conditions, demand for Nutrien’s products, and unforeseen legal or regulatory developments and other risk factors detailed from time to time in Nutrien reports filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission.


Nutrien disclaims any intention or obligation to update or revise any forward-looking statements in this press release as a result of new information or future events, except as may be required under applicable U.S. federal securities laws or applicable Canadian securities legislation or applicable U.S. federal securities laws.


FOR FURTHER INFORMATION:

Investor and Media Relations:
Richard Downey
Vice President, Investor & Corporate Relations
(403) 225-7357
Investors@nutrien.com

Investor Relations:
Jeff Holzman
Senior Director, Investor Relations
(306) 933-8545

Todd Coakwell
Director, Investor Relations
(403) 225-7437

Contact us at: www.nutrien.com

SOURCE Nutrien Ltd.

View original content: http://www.newswire.ca/en/releases/archive/February2018/20/c2718.html

5N Plus Reports Financial Results for Quarter and Fiscal Year Ended December 31, 2017

5N Plus Reports Financial Results for Quarter and Fiscal Year Ended December 31, 2017

Canada NewsWire

MONTREAL, Feb. 20, 2018 /CNW Telbec/ – 5N Plus Inc. (TSX: VNP) (“5N Plus”, the “Company” or the “Group”), a leading producer of specialty chemicals and engineered materials, today reported financial results for the quarter and fiscal year ended December 31, 2017. All amounts are expressed in U.S. dollars.

5N Plus completed a second financial year under the guidance of its strategic plan 5N21 (“5N21”), delivering significant improvement reflected by the various financial metrics, lending credence to the efficacy of the plan. By the end of 2017, nearly all initiatives linked to the first pillar of 5N21, namely extraction of more value from core businesses and existing assets, were successfully completed. At the same time, new initiatives related to the second and third pillars of 5N21, namely increasing contribution from upstream activities and delivering quality growth from new initiatives gained momentum. Consequently, at the end of the year, significant enhancement in margins and profitability were achieved, while, earnings volatility reduced as the Company continued to shift focus from lower margin products with high content of pass-through commodities to products and services requiring higher contribution from value-added activities and technological solutions. Furthermore, the Company continued to deliver recurrent cashflows and further solidified its balance sheet which has enhanced its options going forward.

  • During the year, Adjusted EBITDA1 and EBITDA1 reached $25.1 million and $26.9 million, compared to $20.1 million and $15.1 million in 2016. The Adjusted EBITDA demonstrates improved profitability, with gross margin1 reaching 26.1% compared to 22.4% in 2016 largely supported by growth in value-added activities and services within an environment of stable commodity prices and sustainable demand.
  • A number of factors culminated in a net positive impact on EBITDA for 2017 such as optimizing commercial agreements yielding a $3.0 million gain and a realized gain of $1.9 million on real estate disposal, all of which were envisioned to support the first pillar of 5N21, namely extracting more value from core businesses and existing assets. However, the EBITDA was negatively impacted by the repositioning of activities linked to production of powder alloys triggering an impairment charge of $3.1 million.
  • The Adjusted EBITDA and EBITDA for the fourth quarter reached $6.1 million and $4.4 million in 2017 compared to $4.3 million and $4.8 million in 2016.
  • Net earnings for the year 2017 reached $12.0 million or $0.14 per share compared to a net loss of $5.9 million or ($0.07) per share for the year 2016.
  • Growth in sales from products and services with higher value-added component resulted in significant improvement in gross margin percentage and absolute dollars reaching $57.3 million in 2017 compared to $51.8 million in 2016. Revenue in 2017 reached $219.9 million compared to $231.5 million in 2016, mainly due to lower sales of pass-through metal component, consistent with the Company’s plan to reduce its earnings volatility.  Return on Capital Employed (ROCE)1 reached 12.3% in 2017 as compared to 6.7% in 2016 reflecting the overall margin expansion associated with the Company’s products and services.
  • Net debt1 was further reduced during the year and stood at $11.4 million as at December 31, 2017 down from $19.0 million for the same period last year, positively impacted by working capital management and overall better performance.
  • Backlog1 reached as at December 31, 2017 a level of 187 days of sales outstanding, higher than the previous quarter following the renewal pattern of most contracts which generally occurs in the fourth quarter or the first quarter of the year. Bookings1 in Q4 2017 reached 108 days compared to 118 days in Q3 2017 and 78 days in Q4 2016.
  • On February 20, 2017, 5N Plus announced changes to its executive management structure. Responsibilities assumed by the former functions of Chief Commercial Officer and Chief Operating Officer were reallocated across the existing business segments Eco‐Friendly and Electronic Materials.
  • On March 2, 2017, la Caisse de dépôt et placement du Québec announced the acquisition of 8,700,000 additional shares of 5N Plus on the secondary market, reinvesting $14.8 million, bringing la Caisse’s ownership to 18.93%.
  • On October 11, 2017, 5N Plus announced that its Electronic Materials segment had been awarded a multi‐year program by the U.S. Government to supply engineered semiconductor materials essential for space and aeronautical missions. The award was granted following a comprehensive multi‐party competitive process with emphasis on total value creation based on products and services rendered. The program is expected to commence in the second half of 2018.
  • On November 6, 2017, 5N Plus announced that the footprint optimization initiatives announced a year earlier, when unveiling its 5N21, had been completed. As a part of this initiative, all key product lines formerly produced at its Wellingborough, U.K, plant have been successfully relocated to other plants within the Group, namely plants in Canada, Germany and China.
  • On December 7, 2017, 5N Plus announced its entry into the animal feed minerals market, focusing initially on the production and development of animal feed containing trace elements essential for good health and nutrition. This sector of the feed minerals market is assessed to be worth in excess of $100 million annually. The Company’s investments will be in multiple phases with the initial tranche aimed at establishing capacity and capability in Europe and is slated for completion within 12 months, with qualification samples available in Q4 2018 and volume production shortly thereafter.

Arjang Roshan, President and Chief Executive Officer, said “The end of 2017 marks the second, and a full year, under 5N21. Thus far, our performance is driven by the execution of the plan’s short‐term objectives, mainly related to optimizing core businesses and global assets. The outcome can be summarized by significant growth in profitability, enhancement in quality of earnings and reduction of earnings volatility. Consequently, return on capital employed has improved markedly and we have continued to strengthen our balance sheet aided by recurrent cashflows.”

Mr. Roshan concluded, “With the short-term objectives of the plan successfully fulfilled, we have intensified our focus on mid to long-term objectives under 5N21 with the aim of transforming ourselves from a specialty chemicals and metals company to a leading materials technology company across the globe. Further expansion into future markets with value-added activities, increased contribution from growth initiatives and exerting more control over pass-through component of sales will be the topics of focus and relevance.”

Webcast Information
5N Plus will host a conference call on Wednesday, February 21, 2018 at 8:00 am Eastern Time with financial analysts and institutional investors to discuss results of the quarter and fiscal year ended December 31, 2017. All interested parties are invited to participate in the live broadcast on the Company’s Web site at www.5nplus.com. A replay of the webcast and a recording of the Q&A will be available until February 28, 2018.

To participate in the conference call:

  • Montreal area: 514-807-9895
  • Toronto area: 647-427-7450
  • Toll-Free: 1-888-231-8191  

Enter access code 6698626.

Non-IFRS Measures
EBITDA means net earnings (loss) before interest expenses (revenues), income taxes, depreciation and amortization. We use EBITDA because we believe it is a meaningful measure of the operating performance of our ongoing business without the effects of certain expenses. The definition of this non-IFRS measure used by the Company may differ from that used by other companies. EBITDA margin is defined as EBITDA divided by revenues.

Adjusted EBITDA means EBITDA as defined above before impairment of inventories, impairment of non-current assets, litigation and restructuring costs (income), gain on disposal of property, plant and equipment, change in fair value of debenture conversion option, foreign exchange and derivatives loss (gain). We use adjusted EBITDA because we believe it is a meaningful measure of the operating performance of our ongoing business without the effects of inventory write-downs. The definition of this non-IFRS measure used by the Company may differ from that used by other companies. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenues.

Gross margin is a measure we use to monitor the sales contribution after paying cost of sales excluding depreciation of property, plant and equipment. We also expressed this measure in percentage of revenues by dividing the gross margin value by the total revenue.

Net debt or net cash is a measure we use to monitor how much debt we have after taking into account cash and cash equivalents. We use it as an indicator of our overall financial position, and calculate it by taking our total debt, including the current portion and the cross-currency swap related to the convertible debenture, and subtracting cash and cash equivalents.

Backlog represents the expected orders we have received but have not yet executed and that are expected to translate into sales within the next twelve months expressed in number of days.

Bookings represent orders received during the period considered, expressed in days, and is calculated by adding revenues to the increase or decrease in backlog for the period considered divided by annualized year revenues. We use backlog to provide an indication of expected future revenues in days, and bookings to determine our ability to sustain and increase our revenues.

Return on Capital Employed (ROCE) is a non-IFRS financial measure, calculated by dividing the annualized Adjusted EBIT by capital employed at the end of the period. Adjusted EBIT is calculated as the Adjusted EBITDA less depreciation and amortization (adjusted for accelerated depreciation charge, if any). Capital employed is the sum of the accounts receivable, the inventory, the PPE, the goodwill and intangibles less trade and accrued liabilities (adjusted for exceptional items). We use ROCE to measure the return on capital employed, whether the financing is through equity or debt. In our view, this measure provides useful information to determine if capital invested in the Company yields competitive returns. The usefulness of ROCE is limited by the fact that it is a ratio and not providing information as to the absolute amount of our net income, debt or equity. It also excludes certain items from the calculation and other companies may use a similar measure but calculate it differently.

About 5N Plus Inc.
5N Plus is a leading producer of specialty chemicals and engineered materials. Fully integrated with closed-loop recycling facilities, the Company is headquartered in Montreal, Québec, Canada and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia.  5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications. Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconductor wafers. Many of these are critical precursors and key enablers in markets such as pharmaceutical, healthcare, renewable energy, aerospace, security and sensing, imaging, technical and industrial materials, extractive and catalytic materials, and animal feed additive.

Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information.  Such statements and information may be identified by words such as “about”, “approximately”, “may”, “believes”, “expects”, “will”, “intends”, “should”, “plans”, “predicts”, “potential”, “projects”, “anticipates”, “estimates”, “continues” or similar words or the negative thereof or other comparable terminology.  Forward-looking statements are based on the best estimates available to 5N Plus at this time and involve known and unknown risks, uncertainties and other factors that may cause 5N Plus’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  A description of the risks affecting 5N Plus’ business and activities appears under the heading “Risk and Uncertainties” of 5N Plus’ 2017 MD&A dated February 20, 2018 available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that 5N Plus will derive therefrom.  In particular, no assurance can be given as to the future financial performance of 5N Plus. The forward-looking information contained in this press release is made as of the date hereof and 5N Plus undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.

 

5N PLUS INC.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in thousands of United States dollars)


December 31



2017

December 31

2016


$

$


Assets


Current

Cash and cash equivalents


34,024

24,301

Accounts receivable


25,639

29,799

Inventories


90,647

80,309

Income tax receivable


6,145

6,819

Other current assets


8,773

2,831


Total current assets


165,228

144,059

Property, plant and equipment


56,607

59,945

Intangible assets


10,856

11,109

Deferred tax assets


6,891

1,883

Investment accounted for using the equity method


718

779

Derivative financial assets


3,602

189

Other assets


1,030

1,093


Total non-current assets


79,704

74,998


Total assets


244,932

219,057


Liabilities


Current

Trade and accrued liabilities


57,043

57,381

Income tax payable


11,339

8,422

Current portion of long-term debt


271

325


Total current liabilities


68,653

66,128

Convertible debentures


48,768

43,157

Deferred tax liabilities


251

715

Employee benefit plan obligation


15,396

14,813

Derivative financial liabilities



68

Other liabilities


6,436

5,662


Total non-current liabilities


70,851

64,415


Total liabilities


139,504

130,543


Equity

Equity holders of 5N Plus Inc.


105,446

88,522

Non-controlling interest


(18)

(8)


Total equity


105,428

88,514


Total liabilities and equity


244,932

219,057

 

5N PLUS INC.
CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
Years ended December 31
(in thousands of United States dollars, except per share information)


2017

2016


$

$


Revenue


219,916

231,498

Cost of sales


170,514

190,036

Selling, general and administrative expenses


26,220

25,986

Other expenses, net


4,441

12,072

Share of loss (gain) from joint ventures


110

(23)


201,285

228,071


Operating earnings


18,631

3,427


Financial expenses

Interest on long-term debt


3,261

3,429

Imputed interest and other interest expense


2,836

4,812

Changes in fair value of debenture conversion option


(85)

(20)

Foreign exchange and derivative loss (gain)


79

(925)


6,091

7,296


Earnings (loss) before income taxes


12,540

(3,869)

Income tax expense (recovery)

Current


3,595

440

Deferred


(3,068)

1,587


527

2,027


Net earnings (loss)


12,013

(5,896)


Attributable to:

Equity holders of 5N Plus Inc.


12,023

(5,895)

Non-controlling interest


(10)

(1)


12,013

(5,896)


Earnings (loss) per share attributable to equity holders of 5N Plus Inc.


0.14

(0.07)


Basic earnings (loss) per share


0.14

(0.07)


Diluted earnings (loss) per share


0.14

(0.07)

 

5N PLUS INC.
(Figures in thousands of United States dollars)

Revenue by Segment and Gross Margin 


Q4 2017

Q4 2016


FY 2017

FY 2016


$

$


$

$

Electronic Materials


17,917

19,333


73,448

79,038

Eco-Friendly Materials


34,575

35,371


146,468

152,460


Total revenue


52,492

54,704


219,916

231,498

Cost of sales


(41,035)

(44,802)


(170,514)

(190,037)

Depreciation on property, plant and equipment


2,363

2,046


7,908

10,353


Gross margin1


13,820

11,948


57,310

51,814


Gross margin percentage1


26.3%

21.8%


26.1%

22.4%


Adjusted EBITDA and EBITDA


Q4 2017

Q4 2016


FY 2017

FY 2016


$

$


$

$

Revenue


52,492

54,704


219,916

231,498

Adjusted operating expenses[1] *


(46,441)

(50,373)


(194,799)

(211,387)

Adjusted EBITDA1


6,051

4,331


25,117

20,111

Impairment of inventory





Gain on disposal of property, plant and equipment


1,497


1,887

Impairment of non-current assets


(3,100)


(3,100)

Litigation and restructuring (costs) income


(415)


2,953

(5,945)

Change in fair value of debenture conversion option


67

14


85

20

Foreign exchange and derivative gain (loss)


320

458


(79)

925

EBITDA1


4,420

4,803


26,863

15,111

Interest on long-term debt, imputed interest and other interest expense


1,372

1,851


6,097

8,241

Depreciation and amortization


2,434

2,120


8,226

10,739

Earnings (loss) before income taxes


614

832


12,540

(3,869)

Income tax expense (recovery) 

Current


243

(1,145)


3,595

440

Deferred


(1,851)

1,819


(3,068)

1,587


(1,608)

674


527

2,027

Net earnings (loss)


2,222

158


12,013

(5,896)

Basic earnings (loss) per share


$0.03

$0.00


$0.14

($0.07)

Diluted earnings (loss) per share


$0.03

$0.00


$0.14

($0.07)


*Excluding litigation and restructuring (income) costs, impairment of non-current assets, gain on disposal of property, plant and equipment and depreciation and amortization.

 


Net Debt


As at December 31, 2017

As at December 31, 2016


$

$

Bank indebtedness



Long-term debt including current portion


271

325

Convertible debentures


48,768

43,157

Cross-currency swap


(3,602)

(189)


Total Debt


45,437

43,293

Cash and cash equivalents


(34,024)

(24,301)


Net Debt1


11,413

18,992

 

______________________
1 See Non-IFRS Measures

 

SOURCE 5N Plus Inc.

View original content: http://www.newswire.ca/en/releases/archive/February2018/20/c3421.html