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Last $0.75 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 04/23/15 All times are local (Market data is delayed by at least 15 minutes).

napec inc (CVTPF) Key Developments

NAPEC Inc. Announces Earnings Results for Fourth Quarter and Full Year Ended December 31, 2014

NAPEC Inc. announced earnings results for fourth quarter and full year ended December 31, 2014. For the quarter, the company’s revenues reached CAD 73.6 million, up 3.9% from the fourth quarter of 2013. The increase was mainly attributable to higher revenues derived from contracts related to the construction, maintenance and repair of electricity transmission lines and of underground lines. Net loss was CAD 88,000, or CAD 0.00 per basic and diluted share, compared to net earnings of CAD 528,000, or CAD 0.01 per basic and diluted share, in the fourth quarter of 2013. EBITDA was CAD 3,562,000 compared to CAD 3,364,000 a year ago. Basic and diluted earnings per share were CAD 0.00 compared to CAD 0.01 a year ago. For the year, the company’s revenues were CAD 292.7 million, up 22.0% from CAD 239.8 million for fiscal 2013. EBITDA amounted to CAD 11.1 million, or 3.8% of revenues, up from CAD 7.1 million, or 3.0% of revenues, a year earlier. Net loss was CAD 2.3 million, or CAD 0.03 per basic and diluted share, compared to a net loss of CAD 1.8 million, or CAD 0.02 per basic and diluted share, a year earlier. Basic and diluted loss per share was CAD 0.03 compared to CAD 0.02 a year ago.

NAPEC Inc. - Special Call

To discuss the company's strategic plan for the 2015-2017 period

NAPEC Mulls Acquisitions

NAPEC Inc. (TSX:NPC) is looking for acquisitions. The company stated that the revenue growth will be mainly achieved by further expanding NAPEC's presence in the northeastern United States and by increasing its market share in Ontario. The company also intends to proceed with selective acquisitions that will provide additional expertise or equipment to support its expansion.

NAPEC Inc. Appoints Luc Reny as Chairman of the Board of Directors of the Corporation

NAPEC Inc. announced the appointment of Luc Reny as Chairman of the Board of Directors of the Corporation. This appointment takes effect immediately. A director of NAPEC since June 2010, Mr. Reny was chairman of the Human Resources and Compensation Committee at the time of his appointment. He is also a member of the Audit Committee. Luc Reny has been with Power Corporation of Canada for more than 25 years and has been Vice-President of that company since May 2005.

NAPEC Inc. Announces Resignation of Mr. Jacques Joly as Director and as Chairman of the Board of Directors

NAPEC Inc. announced the resignation of Mr. Jacques Joly as Director and as Chairman of the Board of Directors of the corporation for personal reasons. His resignation takes effect immediately. Mr. Joly had been a Director and the Chairman of the Board of the Corporation since April 2005. Previously, he had been a director of Investissements CVTech inc. from February 1996 to April 2005.


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