Increase of 98% in net earnings from continuing operations during the first
quarter of 2008 to reach 10.5 million US dollars
All amounts in US dollars
QUEBEC CITY, May 6 /PRNewswire-FirstCall/ - Atrium Innovations Inc. (TSX: ATB), a recognized leading developer, manufacturer and marketer of added value products for health and nutrition industries, announced today his financial results for the first quarter of 2008.
During the quarter ended March 31, 2008, Atrium recorded revenues from continuing operations of $65.8 million, which represents an increase of 83.2% compared to revenues of $35.9 million for the corresponding quarter in 2007. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations for the first quarter of 2008 increased by 90.8% to $18.4 million when compared to US$9.6 million for the same period in 2007. For the quarter ended March 31, 2008, net earnings from continuing operations rose by 97.8% to US$10.5 million when compared to $5.3 million for the same period in 2007. The Company's total net earnings were US$14.7 million, an increase of 70.8% when compared to net earnings of $8.6 million for the corresponding period in 2007. Net earnings per share on a diluted basis for the first quarter of 2008 rose by 69.2% to $0.44 per share, compared to $0.26 per share for the same period in 2007.
"We are very satisfied with the strong financial results for the first
quarter as the Mucos integration is going according to plan and as we
experienced solid organic growth in the quarter. We have begun the
integration of Multicare B.V., which was acquired on February 15. This
acquisition respects perfectly our strategic acquisition program.
Furthermore we remain confident that we will finalize the sale of the
Active Ingredients and Specialty Chemicals Division ("AI&SC") in the
upcoming weeks as announced on April 4, allowing us to focus on our Health
|SOURCE Atrium Innovations Inc.|
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