Last C$0.47 CAD
Change Today +0.02 / 4.44%
Volume 10.0K
IFX On Other Exchanges
Symbol
Exchange
Venture
As of 9:41 AM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

imaflex inc (IFX) Snapshot

Open
C$0.45
Previous Close
C$0.45
Day High
C$0.47
Day Low
C$0.45
52 Week High
12/3/14 - C$0.55
52 Week Low
05/26/14 - C$0.24
Market Cap
22.7M
Average Volume 10 Days
19.1K
EPS TTM
C$-0.0090
Shares Outstanding
48.3M
EX-Date
05/18/05
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for IMAFLEX INC (IFX)

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imaflex inc (IFX) Details

Imaflex Inc. develops, manufactures, and sells flexible packaging materials in Canada, the United States, and internationally. It offers agricultural films for fruit and vegetable growers; converter films, including bread, heavy duty, laminating grade, coex, master produce, compostable, medium density, and shrink films; and industrial film products comprising garbage, compostable, and Gaylord bags. It also provides metalized plastic films for use in the packaging of food products, such as ground coffee, potato chip bags, and chocolate bar wrappers, as well as for use in agriculture, insulation, and various other industries. The company is headquartered in Montreal, Canada.

imaflex inc (IFX) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: C$158.3K
Corporate Controller
Total Annual Compensation: C$130.0K
Vice-President of Operations and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

imaflex inc (IFX) Key Developments

Imaflex Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Imaflex Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, sales were CAD 15,314,000 against CAD 15,203,000 a year ago. Profit before income taxes was CAD 321,000 against loss before income taxes of CAD 96,000 a year ago. Profit was CAD 174,000 against loss of CAD 235,000 a year ago. Basic and diluted earnings per share were CAD 0.004 against loss per share of CAD 0.005 a year ago. The increase is mainly attributable to the important foreign exchange gain realized during the third quarter of 2014 compared to the foreign exchange loss in the third quarter of 2013, which more than offset the other items which negatively impacted profitability. EBITDA was CAD 790,000 against CAD 326,000 a year ago. For the nine months, sales were CAD 45,004,000 against CAD 42,186,000 a year ago. This increase is mainly explained by the higher average selling price of film and the appreciation of the USD against the CAD over the nine-month period as well as increased volumes of packaging film sales in the first quarter of 2014. Profit before income taxes was CAD 64,000 against CAD 725,000 a year ago. Loss was CAD 238,000 against profit of CAD 391,000 a year ago. Basic and diluted loss per share were CAD 0.005 against earnings per share of CAD 0.009 a year ago. This is mainly due to the lower gross profit, the increase in selling and administrative expenses and finance costs, which was only partially offset by the larger foreign exchange gain and the lower income tax expense. EBITDA was CAD 1,450,000 against CAD 1,935,000 a year ago.

Imaflex Inc. Announces Successful Market Launch of Its Shine N' Ripe Xl; Receives Bulk Order from a Large Brazilian Citrus Producer

Imaflex Inc. announced the successful market launch of its Shine N' Ripe XL, a long lasting metalized agricultural mulch film, specifically designed for the citrus industry to repel citrus greening transmitting insects. Common insecticides have proven ineffective in managing ACP, so Imaflex, along with its academic and industry partners, has been at the forefront of developing alternative approaches to control citrus greening. Shine N' Ripe XL is long lasting metalized mulch film that can maintain high ultraviolet (UV) reflectivity for three to five years. Metalized film with UV reflectivity of 80% or more has been proven to be a highly effective insect deterrent, including for ACP, while also providing weed control and water preservation benefits. Current metalized films lose their reflectivity after ten months, requiring citrus growers to replace them at least once annually. Imaflex's Shine N' Ripe XL has proven in field tests, run by the University of Flordia -- IFAS, it can maintain its performance for three or more years. This makes Shine N' Ripe XL the only economically viable agricultural film for the management of citrus greening. The company also announced that it has received first bulk order from a large Brazilian citrus producer serving international orange juice producers headquartered in North America.

Imaflex Files Patent Application for Recycling Paint Waste into Plastic

Imaflex Inc. announced that it has filed a patent application with the United States Patent and Trademark Office for a production process converting waste latex paint into plastic film. The patent application titled 'Methods of Recycling Waste Latex Paint' outlines Imaflex's proprietary approach to reconditioning latex paint waste for the use in blown film extrusion. Imaflex foresees that in the future, recycled latex paint could provide the company with a very low cost feedstock for many of its industrial bag products and further reduce the carbon footprint of its products. Of all household hazardous wastes, leftover paint is considered the single most voluminous and expensive material that local governments have to manage. It is estimated, by U.S. Environmental Protection Agency, that annually between 35 to 103 million gallons post-consumer latex paint waste is generated in the U.S., and approximately 30% of recollected waste latex paint is non-reusable scrap, posing a major environmental threat.

 

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