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August 02, 2015 1:32 AM ET

Machinery

Company Overview of Ovivo Inc.

Company Overview

Ovivo Inc. provides water, wastewater, and ultra-pure water treatment equipment and solutions for energy, municipal, and electronics markets. The company offers boiler feed water treatment, cooling water treatment, filtration, condenser/cooling water circuit optimization, condensate polishing, flue gas desulfurization wastewater treatment, and transformer oil treatment products, as well as chemical solutions for power market; and boiler feed water treatment, raw water intake, heat exchanger/condenser optimization, process/wastewater treatment products, and chemical solutions for the petrochemical market. It also provides seawater injection, potable water distribution, process water treatment...

2001 McGill College Avenue

Suite 2100

Montréal, QC H3A 1G1

Canada

Founded in 1975

800 Employees

Phone:

514-284-2224

Fax:

514-284-2225

Key Executives for Ovivo Inc.

Chief Executive Officer, President and Director
Age: 47
Total Annual Compensation: $400.0K
Founder and Executive Chairman
Age: 74
Total Annual Compensation: $306.3K
Chief Financial Officer and Vice President of Finance
Total Annual Compensation: $236.2K
President of GL&V Pulp and Paper Group
Total Annual Compensation: $321.3K
Compensation as of Fiscal Year 2014.

Ovivo Inc. Key Developments

Ovivo Inc. Announces Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2016

Ovivo Inc. announced audited consolidated earnings results for the fourth quarter and full year ended March 31, 2015. Total revenues for the fourth quarter of fiscal 2015 are down 4% year over year. Adjusted EBITDA amounted to CAD 4.2 million an increase of CAD 5.6 million compared with the same period of the previous fiscal year. During the fourth quarter, Ovivo recorded a net loss from continuing operations of CAD 700,000 or CAD 0.02 per share compared to last year's net loss of CAD 6.3 million or CAD 0.14 per share. The 4% decline in revenues from the same period of the previous fiscal year was largely due to lower new equipment sales in the Electronics market, as revenues in that market were particularly high in the fourth-quarter of the previous fiscal year following major contract wins early in fiscal 2014. The revenue decrease is also due to the Energy market, which was impacted by low order taking in the first 3 quarters of the year. At March 31, 2015, net debt stood at CAD 24.1 million, a slight increase of CAD 1.9 million compared to its level 3 months before. The company generated revenues and adjusted EBITDA for the year ended March 31, 2015 of CAD 318.7 million and CAD 12.1 million, respectively. While revenues were relatively unchanged from the previous fiscal year, adjusted EBITDA for the year was up CAD 7.3 million, over double the figure from fiscal 2014. The company recorded a net loss from continuing operations attributable to shareholders of Ovivo Inc. of CAD 33.5 million or CAD 0.76 per share, basic and diluted, compared with a net loss of CAD 26.8 million or CAD 0.61 per share, basic and diluted, for the previous fiscal year. This net loss resulted primarily from the CAD 16.9 million impairment charge recorded during the third quarter of fiscal 2015 as well as a foreign exchange loss and realized and unrealized losses related to derivative financial instruments mainly attributable to the re-measurement of the total return swap. Based on current outlook and backlog, assuming exchange rates remain stable at current levels, revenues from continuing operations should range from CAD 300 million to CAD 325 million for the fiscal year ending March 31, 2016.

Ovivo Inc. Wins Energy Contract Worth over $4 Million in Southeast Asia

Ovivo Inc. has been awarded a contract to supply a polishing demineralization water system for a power plant in Southeast Asia. Through its heritage brand Christ Water Technology, the company will supply equipment meeting the requirements for ultraclean demineralized water and complying with the feed water guidelines for high pressure boilers. The contract is worth over $4 million Canadian and the delivery is scheduled for 2016. The company's system is part of a cogeneration plant that will not only supply steam and power to the petrochemical plants and the other facilities in the complex, but it will also supply power to the national grid for public consumption. The scope of supply includes the engineering, manufacturing and commissioning of four lines of carbon activated filters and mixed bed filters to further demineralize the water coming from the centralized demineralized water supply.

Ovivo Inc. to Report Q4, 2015 Results on Jun 04, 2015

Ovivo Inc. announced that they will report Q4, 2015 results at 4:01 PM, US Eastern Standard Time on Jun 04, 2015

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