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Last C$0.03 CAD
Change Today +0.005 / 25.00%
Volume 149.9K
ARF On Other Exchanges
As of 3:55 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

armtec infrastructure inc (ARF) Snapshot

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52 Week High
05/1/14 - C$1.43
52 Week Low
03/20/15 - C$0.02
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Average Volume 10 Days
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armtec infrastructure inc (ARF) Details

Armtec Infrastructure Inc. manufactures and markets infrastructure products and engineered construction solutions in Canada and internationally. The company operates in Drainage Solutions and Precast Concrete Solutions segments. Its drainage and water control products include agricultural drainage tubing products, bridge materials, corrugated steel pipes, culvert pipes, HDPE pipes and tubing products, pipes and culverts, platon membrane for foundation and flooring, soil retention and stabilization, storm water and wastewater management products, as well as underground utility vaults, precast concrete storage enclosures, and tunnel liners and liner plates in transit applications, underpass structures, and other applications. The company also provides precast concrete products comprising concrete curbs, Durisol precast noise barriers, precast bridge components, precast building systems, precast concrete stairs, precast concrete jersey barriers, parking structures, and underground and utilities. In addition, it designs and constructs absorptive noise barrier walls; railway noise and retaining solutions, such as rail silencers, tunnel liners, and acoustic shields, as well as precast noise and retaining walls; and provides engineering and design, project management, on-site construction supervision, and stamped engineered drawings services. It serves national and regional public infrastructure, and private sector markets in agricultural drainage, commercial building, residential construction, and natural resources industries. The company was founded in 1908 and is headquartered in Concord, Canada.

Founded in 1908

armtec infrastructure inc (ARF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$468.8K
Chief Financial Officer
Total Annual Compensation: C$286.3K
President of Precast Concrete Solutions
Total Annual Compensation: C$300.0K
Vice President, Corporate Secretary and Chair...
Total Annual Compensation: C$193.8K
Vice President of Information Technology & Bu...
Total Annual Compensation: C$201.8K
Compensation as of Fiscal Year 2013.

armtec infrastructure inc (ARF) Key Developments

Armtec Infrastructure Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014; Provides Consolidated Earnings Guidance for the Year Ending December 31, 2015

Armtec Infrastructure Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of CAD 129,641,000 against CAD 107,964,000 a year ago. Significant contributions were realized on the UP Express Soundwall project in the quarter as the project moved into full production. Loss from operations was CAD 43,558,000 against income from operations of CAD 2,852,000 a year ago. Net loss attributable to owners of the company was CAD 77,531,000 against CAD 4,495,000 a year ago. Basic and diluted loss per share was CAD 3.22 against CAD 0.19 a year ago. EBITDA was CAD 6,167,000 against CAD 5,926,000 a year ago. The improved results in the Precast BU were offset by lower margins in the Drainage BU and the fees incurred for the review of strategic alternatives. Adjusted EBITDA was CAD 8,175,000 against CAD 5,926,000 a year ago. The favorable comparative results were driven by strong revenue in the Precast business unit, where the UP Express Soundwall project contributed greatly. For the year, the company reported revenue of CAD 473,866,000 against CAD 455,522,000 a year ago. Loss from operations was CAD 31,834,000 against income from operations of CAD 28,022,000 a year ago. As a result of the decline in the company's market enterprise value during 2014, Armtec reviewed the carrying value of its assets as required under International Financial Reporting Standards and as a result recorded a non-cash impairment charge of approximately CAD 46.9 million during the fourth quarter. Net loss attributable to owners of the company was CAD 86,691,000 against CAD 2,907,000 a year ago. Basic and diluted loss per share was CAD 3.60 against CAD 0.12 a year ago. EBITDA was CAD 26,667,000 against CAD 40,073,000 a year ago. Adjusted EBITDA was CAD 28,675,000 against CAD 40,073,000 a year ago. The impact of the costs associated with the review of strategic alternatives and related adjustment was approximately CAD 2.0 million resulting in a 2014 EBITDA of CAD 26.7 million. Excluding the non-cash impairment charge, earnings from operations for 2014 would have been CAD 15.1 million. Cash used in operating activities for the year was CAD 13 million compared to cash used of CAD 4 million in the previous year. Cash used in 2014 increased mainly as a result of the lower gross margins achieved in the year. The stronger revenue was driven by activity in light-rail and highway infrastructure projects and was tempered by lower demand in building, municipal infrastructure and natural resource markets. The lower EBITDA in 2014 is a result of a number of factors. The first half-sorry, the first half of the year was heavily impacted by adverse weather conditions, causing significant project schedule delays and additional costs relating to precast facilities with outdoor manufacturing processes. The company announced impairment of assets of CAD 46,898,000 for the fourth quarter ended December 31, 2014. For the year ending December 31, 2015, the company expected consolidated revenue will be in the range of CAD 470 million to CAD 485 million, EBITDA will be in the range of CAD 28 million to CAD 33 million and consolidated capital expenditures will be in the range of CAD 8 million to CAD 10 million.

Armtec Infrastructure Inc Auditor Raises 'Going Concern' Doubt

Armtec Infrastructure Inc filed its Annual on Mar 24, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Armtec Infrastructure Considering Multiple Strategic

Armtec Infrastructure Inc (TSX:ARF) has provided an update on its review of its strategic alternatives and the execution of an extension, waiver and sales process agreement with Brookfield Capital Partners Fund III LP. Armtec Holdings Ltd., a direct, wholly owned subsidiary of Armtec Infrastructure Inc., will not make the $6,656,250 semi-annual interest payment due March 22, 2015, on AHL's 8.875%senior unsecured notes due Sept. 22, 2017. During such cure period, Armtec and its advisors will continue with the Sale and Investment Process and will continue to review the company's liquidity, financial covenants, leverage and capital structure. The Extension Agreement provides that a failure of Armtec to pay the March Interest Payment will not terminate the Extension Agreement. In the event no transaction emerges from the Sale and Investment Process or otherwise which would result in Brookfield's indebtedness being repaid in full, together with certain other liabilities of Armtec, Brookfield will indirectly acquire all of Armtec's assets in exchange for Brookfield's indebtedness. Brookfield has also agreed to provide a new short-term facility of $20 million to Armtec which is available during the Sale and Investment Process. Armtec's trade creditors, as well as its obligations to employees, would be unaffected by the Brookfield Transaction and will continue to be paid in the ordinary course of business during Armtec's ongoing review of its strategic alternatives.


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