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IBC Advanced Alloys [
June 2, 2015
IBC Advanced Alloys
Reports Third Fiscal Quarter 2015 Results and Provides Update
VANCOUVER, BC - June 2, 2015 - IBC Advanced Alloys Corp. [
(TSX-V: IB; OTCQX: IAALF) has released its financial results for the period ended
March 31, 2015. For detailed information about IBCs third fiscal quarter, please
read the Companys financial statements and managements discussion and analysis
which are available on SEDAR at [
Third Quarter Highlights
* Revenue of $4.48 million representing 16% increase over the same period in the
previous fiscal year.
* Copper Alloys revenue of $3.68 million, up 5.1% over the comparative period.
* Engineered Materials revenue of $796,000, an increase of 119% over the comparative
* Loss for the quarter was $582,000, substantially unchanged from the comparative
Year to Date Highlights
* Revenue of $14.21 million representing a 13% increase over the same period in
the previous fiscal year.
* Copper Alloys revenue of $12.08 million, up 5.7% over the comparative period.
* Engineered Materials revenue of $2.13 million, an increase of 82% over the comparative
* Loss for the period was $1.81 million, representing a 7.2% improvement compared
to the same period in the previous fiscal year.
Commentary and Corporate Update
IBC enjoyed continued growth in Q3 with sales up over the comparative quarter and
year to date periods. Engineered Materials sales continued to grow while Copper
Alloys sales returned to a more normal level after a very strong second quarter.
Anthony Dutton, IBCs chief executive officer commented "We continued to advance
the business in the third fiscal quarter, most notably with ongoing production
of F-35 components which are currently in the last stages of being machined. Our
Engineered Materials facility was designed and built with significant excess capacity
in order to accommodate anticipated increases in demand for our high performance
beryllium aluminum aerospace castings," continued Dutton, "and we are looking forward
to robust growth in this segment of our business."
In the third quarter, our Engineered Materials division continued to ship F-35 components
for machining and was able to recognize related contract milestone payments as revenue.
Most of the contract revenue and margin from the F-35 components will be recognized
in succeeding quarters when final components are to be delivered.
While Engineered Materials continues to incur a loss from operations because of
current low plant utilization as the company develops an order pipeline, the division
is actively engaged with several aerospace and defense contractors regarding additional
defence and military programs which, if the Company is successful, will not require
any immediate capacity expansion. In March and April 2015, the division reported
new contracts with Kaman Corporation and UTC Aerospace Systems which demonstrate
progress in developing its business.
The Copper Alloys division enjoyed increased sales compared to the same period in
2014 in spite of weak copper prices. Margins improved due to a product mix changes
but some of this benefit was lost to increased healthcare costs.
Corporate operations have been constrained by insufficient capital, however IBC
recently announced a C$1.75 million financing which, if it completes, will address
the Companys near-term capital requirements.
A conference call to discuss the third fiscal quarter results will be held today
at 1:00 pm ET (10:00 am PT):
* Date: Tuesday, June 2, 2015
* Time: 1:00 pm Eastern Time - 10:00 am Pacific Time
* Conference Call Dial-In Numbers:
Canada & USA Toll Free 1- 800-319-4610
Outside Canada & USA (direct) 1- 604-638-5340
Callers should dial in 5 - 10 min prior to the scheduled start time and simply ask
to join the call.
* Conference Call Replay Numbers:
Canada & USA Toll Free 1- 855-669-9658
Outside Canada & USA (direct) 1- 604-674-8052
* Code: (followed by the # sign): 1537
Duration: Available for two weeks until end of day Tuesday, June 16, 2015
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About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) [
based alloys and related products [
serving a variety of industries including nuclear energy [
automotive, telecommunications and a range of industrial applications. IBC has 80
employees and is headquartered in Vancouver, Canada with production facilities in
Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global
beryllium and advanced alloys company. IBCs common shares are traded on the TSX
Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF."
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext. 110
Vorticom Public Relations
This news release was prepared by management of IBC, which takes full responsibility
for its contents. The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this news release. Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
This disclosure contains certain forward-looking statements that involve substantial
known and unknown risks and uncertainties, certain of which are beyond the Companys
control including: the impact of general economic conditions in the areas in which
the Company operates, industry conditions, changes in laws and regulations including
the adoption of new environmental laws and regulations and changes in how they are
interpreted and enforced, increased competition, the lack of availability of qualified
personnel or management, limited availability of raw materials, fluctuations in
commodity prices, foreign exchange or interest rates, stock market volatility and
obtaining required approvals of regulatory authorities. In addition there are risks
and uncertainties associated with manufacturing activities therefore the Companys
future results, performance or achievements could differ materially from those expressed
in these forward-looking statements. All statements included in this press release
that address activities, events or developments that the Company expects, believes
or anticipates will or may occur in the future are forward-looking statements. These
statements are based on assumptions made by the Company based on its experience,
perception of historical trends, current conditions, expected future developments
and other factors it believes are appropriate in the circumstances.
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IBC Advanced Alloys Corp. | 1200-570 Granville St. | Vancouver | BC | V6C 3P1 | Canada