EIL.v +.015 to C$.11
By Bobwins
Posted: Thursday Jul 2 8:39:11AM 2015
EIL.v +.015 to C$.13 formal announcement of contract to build Thirty Meter Telescope enclosure in Hawaii. Up to $70 million dollars! This is in addition to large amusement park contracts that EIL has been signing in 2014-5. Not sure why market doesn't like EIL better. Earned .02eps the last two years but still no respect.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 2, 2015) - The Honourable James Moore, Minister of Industry for Canada, announced on June 30 that Dynamic Structures, a division of Empire Industries Ltd. (TSX VENTURE:EIL), will receive up to $70 million to build the precision-steel enclosure of the Thirty Meter Telescope (TMT), the world's largest earth-based telescope.
The TMT enclosure is one of several key deliverables that Canada will be contributing to the TMT partnership as outlined in the April 6, 2015 press release when Prime Minister Stephen Harper announced Canada will provide $243.5 million over 10 years to support Canada's participation in TMT.
The enclosure design and manufacturing phase is expected to be executed between 2015 and 2018. Subsequent phases of the Canadian enclosure project, including shipping the enclosure to the project site, supervision of the enclosure's installation, and commissioning of the structure, may be added later as the as the overall project develops.
Dynamic Structures, based in Port Coquitlam, BC, designs, builds and installs complex mechanical systems and specialty structures for world-class telescopes, theme park rides and bridges. Dynamic Structures has designed an innovative calotte shape for the TMT enclosure. The design significantly reduces the size and improves the speed of the enclosure, to effectively shield the telescope and instruments from temperature variations, unbalanced wind forces, snow and ice. The enclosure will rotate and open directly over the telescope. When completed, the enclosure will be over 18 stories high and be assembled from over hundreds of thousands of parts.
"This is a tremendously exciting time for our Dynamic Structures business unit," said Guy Nelson, Chief Executive Officer of Empire Industries Ltd. "It is an honour to be selected to design and manufacture one of the most sophisticated moving structures on the planet. Dynamic Structures has been actively working on TMT since it was first conceived over ten years ago. We are proud to be selected to see it through to completion."
About Dynamic Structures
Dynamic Structures has been in operation since 1926 and was acquired by Empire Industries in 2007 and is a wholly owned division. It is one of the world's premier providers of movable (dynamic) structures. Dynamic Structures develops effective integration strategies to cover all aspects of complex structural, mechanical and electrical system projects right through design, manufacturing and on-site construction. They have an enviable reputation of providing these services to the global amusement ride industry and the global telescope observatory market. Dynamic Structures has designed and manufactured approximately half the world's large telescope enclosures. Dynamic Structures is located in Port Coquitlam, British Columbia. More can be learned about the company by visiting www.empireds.com.
About Empire Industries Ltd.
Empire Industries manufactures specialized engineered products and sells these products domestically and internationally. The company has designed and engineered precision equipment for two highly specialized international markets; media based attractions and very large astronomical telescopes and enclosures. In addition, the company manufactures and sells hydrovac trucks and also provides steel fabrication & installation services to the industrial, commercial and infrastructure market in Western Canada through wholly owned, Empire Iron Works and two joint ventures in Alberta's oil sands and China. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.
More information about Empire Industries can be found by visiting www.empind.com.
Read more at http://www.stockhouse.com/news/press-releases/2015/07/02/federal-government-announces-70-million-award-to-dynamic-structures-for-supply#yf3gtwApxYBY2opD.99
Posted: Monday May 25 1:35:22PM 2015
EIL.v -.025 to C$.125 Empire lost C$.9million in Q1, most due to a paper loss on FX contracts totaling 1.9million. C$ is up vs US$ in Q2 so there should be a positive addition to earnings in Q2. Steel fabrication business is apparently tied to oil and gas drilling because sales and margins are down. Hydrovac truck sales were also down. But Backlog is up so hopefully amusement division will return company to profits this qtr.
WINNIPEG, MANITOBA--(Marketwired - May 25, 2015) - Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited consolidated financial results for the first quarter ended March 31, 2015. The unaudited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at www.sedar.com or at www.empind.com.
Summary of the First Quarter 2015 results
Revenues decreased by $0.5 million, or 1.5% (to $33.2 million from $33.7 million in first quarter 2014)
Adjusted EBITDA decreased by $0.9 million, or 36% (to $1.5 million from $2.4 million in first quarter 2014)
Net Loss, after taking into consideration an unrealized loss on forward foreign exchange contracts of $1.9 million, was $0.9 million, versus net income of $1.2 million in first quarter 2014
The non-cash unrealized foreign exchange loss of $1.9 million in the quarter compares to a loss of $0.6 million in the comparative period relating to outstanding forward foreign currency instruments. This loss resulted from the significant decline of the Canadian dollar incurred during the period as compared to the rates negotiated in the underlying contracts.
Net Loss was $0.003 per share, versus net income per share of $0.005 in first quarter 2014
Backlog of $195 million at March 31, 2015, up from $155 million at December 31, 2014
For the quarter and year ended March 31
Q1 Q1
($millions except share price and per share amounts) 2015 2014
Revenue 33.2 33.7
Adjusted EBITDA ($)1 1.5 2.4
Net income (loss) from all operations, after unrealized foreign exchange loss of ($1.9 million; $0.6 in 1st quarter 2014) (0.9 ) 1.2
Financial Position (at March 31)
Total assets 74.5 49.3
Long-term debt (including current portion) 2.9 3.5
Shareholders' equity 21.1 16.6
Per Share Information
Income per share (Basic) $ (0.003 ) $ 0.005
Income per share (Diluted) $ (0.003 ) $ 0.005
1 Adjusted earnings (loss) before interest, tax, depreciation and amortization (Adjusted EBITDA) is not defined by IFRS. The definition of Adjusted EBITDA does not take into account the Group's share of profit of an associate investment, gains and losses on the disposal of assets, fair value changes in foreign currency forward contracts and non-cash components of stock based compensation. While not IFRS measures, Adjusted EBITDA is used by management, creditors, analysts, investors and other financial stakeholders to assess the Group's performance and management from a financial and operational perspective.
"The first quarter was negatively influenced by tighter margins on steel fabrication work and lower sales of hydrovac trucks both of which are reflective of a challenging economic environment in Alberta. The Media Based Attractions had a good quarter, and was similar to the first quarter of 2014," said Guy Nelson, CEO. " I expect our Media Based Attractions to continue to strengthen as we work through our record backlog and to offset the headwinds we expect to continue to feel in our domestic businesses operating in Alberta."
Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company has developed, designed and engineered products for the rapidly growing, global, media based attractions market. The company also manufactures and sells hydrovac trucks and provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company also has two key strategic equity partnerships; a 49% ownership of ACE Industrial Services that operates in the oil sands industrial maintenance services market, and a 45% ownership of a Chinese joint venture company in the steel fabrication market in Asia. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Posted: Wednesday May 20 7:17:57AM 2015
EIL.v C$.14
WINNIPEG, MANITOBA--(Marketwired - May 20, 2015) - Empire Industries Ltd. (TSX VENTURE:EIL) today reported that its Dynamic Attractions business unit has been awarded a contract valued in excess of US$24 million to supply one of its proprietary attractions to a major theme park in south Asia. This contract award comes from the same client that purchased two other attractions which were announced by Empire on March 4, 2015. These contracts will largely be executed over the next 36 months.
"It is gratifying to see our clients placing such confidence in us. Together with the two previously announced contracts, our south Asian client has awarded us over $US 66 million in contracts," said Guy Nelson, Empire's Executive Chairman and Chief Executive Officer.
Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company has developed, designed and engineered products for the rapidly growing, global, media based attractions market. The company also provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company also has two key strategic equity partnerships; a 49% ownership of ACE Industrial Services that operates in the oil sands industrial maintenance services market, and a 45% ownership of a Chinese joint venture company in the steel fabrication market in Asia. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.
About Dynamic Attractions
Many of the most popular rides at the world's largest amusement parks have been engineered, fabricated and/or built by Dynamic Attractions and its sister company, Dynamic Structures. The media-based attractions company has a proven record of delivering rides with unmatched records of guest satisfaction, safety, quality and reliability. Dynamic Attractions is a subsidiary of Empire Industries Ltd. (TSX VENTURE:EIL).
Posted: Tuesday Apr 28 7:27:19AM 2015
EIL.v +.02 to C$.145
Empire earned .022 eps FD for 2014 and backlog is up to $155million. Great Q4.
http://www.stockhouse.com/news/press-releases/2015/04/28/empire-industries-reports-2014-profit-of-6-1-million
Posted: Tuesday Apr 7 6:33:57AM 2015
2015-04-07 07:24 ET - News Release
Mr. Guy Nelson reports
EMPIRE INDUSTRIES WELCOMES CANADA'S COMMITMENT TO CONSTRUCTION FUNDING FOR THE THIRTY METER TELESCOPE
Empire Industries Ltd. welcomes Canada's commitment to construction financing of $243.5-million for the 30-metre-telescope international partnership, announced yesterday evening by Prime Minister Stephen Harper at the H.R. MacMillan Space Centre in Vancouver.
The TMT will be the world's most powerful ground-based telescope, with 81 times more power than the current best telescope. The telescope was conceived and designed by Canadian astronomers and industry in a partnership between Canada, the University of California, the California Institute of Technology, Japan, China and India. TMT will examine the first stars to form in the universe, the black hole at the centre of the Milky Way, and the atmospheres and other properties of planets within the habitable zones of other stars.
"Our participation in the 30-metre-telescope project will generate new capabilities and technologies in Canada, which will help create and maintain high-quality jobs in communities across the country. It is also a real tribute to Canadian know-how that a British Columbia firm was selected to build the telescope's enclosure," stated the Prime Minister.
Today's announcement ensures that two critical telescope elements, the enclosure and the adaptive optics instrument, will be built in Canada. The Coalition for Canadian Astronomy has projected 1,050 person years plus an equal number of indirect jobs from Canada's in-kind contribution of the telescope enclosure and adaptive optics instrument. All work slated for Canada is in highly skilled sectors, and previous investments in astronomy projects have a proven track record of delivering long-term economic spinoffs. The majority of the Canadian government's financial support will be spent in Canada, including a precision steel enclosure by Dynamic Structures, based in Port Coquitlam, B.C.
"All Canadians should be immensely proud of the fact that two critical elements of the TMT have been entrusted to Canadian industry for construction. Canadian industry can compete against anyone in the world when given the opportunity, and we are extremely grateful for the financial commitment from Prime Minister Stephen Harper and Industry Minister James Moore that allows us to build what Canadian industry designed," stated Guy Nelson, president and chief executive officer of Empire Industries and co-chair (industry) of the Coalition for Canadian Astronomy.
Empire Industries, through its wholly owned division, Dynamic Structures, has parlayed its unique expertise gained from building approximately half of the world's largest optical and radio-astronomical enclosures into being a world-leading designer and builder of media-based attractions for the entertainment industry. Dynamic Structures has been actively working on TMT since its inception over 10 years ago. Dynamic Structures, working with Canadian astronomers, designed TMT's calotte enclosure. The TMT enclosure will be built in Canada, exported and installed in Hawaii. Dynamic Structures will be heavily involved in the TMT enclosure supply. The actual details of the enclosure contract have not yet been finalized. Empire Industries will be working with the government of Canada and the TMT International Observatory to finalize the contractual details of the in-kind supply of the enclosure from Canada to the TMT partnership.
About the Coalition for Canadian Astronomy
The Coalition for Canadian Astronomy was formed in 2000 and brings together all Canada's astronomy stakeholders to focus on a plan for international excellence in the field. The coalition is composed of Canadian universities, represented by the Association of Canadian Universities for Research in Astronomy, which has 20 member universities; professional astronomers, as represented by the Canadian Astronomical Society; and Canadian industry, which brings together Canadian companies involved in major astronomy projects.
Read more at http://www.stockhouse.com/companies/bullboard/v.eil/empire-industries-ltd#1QvovgD7uxEHkGqP.99
Posted: Wednesday Mar 18 11:14:22PM 2015
report on Empire Industries with C$.27 price target
Posted: Wednesday Mar 4 10:43:10AM 2015
woohoo! two more contracts totaling $42 million!
http://finance.yahoo.com/news/empire-industries-reports-two-contract-120000217.html
all three of these contracts are over the next one to three years so not a quick hit but certainly substantial contracts.
Posted: Monday Mar 2 7:31:50AM 2015
EIL earned .02eps last year so very cheap. Significant contract win but market must be skeptical that they can continue to grow profitably.
WINNIPEG, MANITOBA--(Marketwired - Mar 2, 2015) - Empire Industries Ltd. (TSX VENTURE:EIL) today reported that its Dynamic Attractions business unit has been awarded a contract valued in excess of $USD 24 million to supply one of its proprietary robotic track rides to a major theme park in the United Arab Emirates. The contract will largely be executed over the next 24 months.
"The global market for our proprietary media-based attractions remains vibrant," said Guy Nelson, Empire's Executive Chairman and Chief Executive Officer. "This is our third major project in the U.A.E., where the diversification into tourism continues to be an important part of the region's economic plans."