Canam Group Publishes Its First-Quarter Financial Report
May 16, 2017
Canam Group has just published the electronic version of its financial report for the first quarter of 2017. The printed version will be available as of May 26, 2017.
Highlights for the three-month periods ended April 1, 2017 and April 2, 2016
Consolidated revenues for the first quarter of 2017 totaled $463.5M compared to $450.7M for the same quarter in 2016.
Adjusted gross margin
The adjusted gross margin percentage was 9.2% of revenues in the first quarter of 2017, compared to 12.1% for the same quarter in 2016.
Net loss attributable to shareholders
The net loss attributable to shareholders totalled $1.6M, or $0.04 per basic share in the first quarter of 2017, compared to a net income of $8.3M, or $0.18 per basic share, for the same period in 2016.
The order backlog stood at $1,041M as at April 1, 2017, compared to $1,139M as at December 31, 2016 and $1,159M as at April 2, 2016.
Due to the transaction announced as part of the Corporation’s going-private project, Canam Group’s Board of Directors decided to suspend the payment of dividends.