Vector Aerospace announces strong third quarter 2009 results
------------------------------------------------------------------------- Operations (in millions of Canadian Third Quarter Nine Months dollars): 2009 2008 2009 2008 ------------------------------------------------------------------------- Revenue $ 141.0 $ 135.1 $ 428.6 $ 357.8 ------------------------------------------------------------------------- Net earnings before interest, foreign exchange gains/(losses), income taxes and unusual items $ 14.2 $ 7.9 $ 42.3 $ 26.5 ------------------------------------------------------------------------- Net earnings $ 7.8 $ 6.5 $ 24.8 $ 18.8 ------------------------------------------------------------------------- Per Share: ------------------------------------------------------------------------- Net earnings before interest, foreign exchange gains/(losses), income taxes and unusual items Basic $ 0.38 $ 0.21 $ 1.12 $ 0.71 Diluted $ 0.37 $ 0.21 $ 1.11 $ 0.70 ------------------------------------------------------------------------- Net earnings Basic $ 0.21 $ 0.17 $ 0.66 $ 0.50 Diluted $ 0.20 $ 0.17 $ 0.65 $ 0.49 ------------------------------------------------------------------------- -------------------------------------------------------------------------
The interim consolidated financial statements and MD&A for the three months and nine months ended
The Company generated consolidated revenue from operations of
In commenting on the quarter's results, President and CEO Declan O'Shea stated: "In the third quarter, Vector again produced strong results. Given the state of the economy and of the industry in general, we are proud of our people who were able to generate these results. Each of our business segments performed well and delivered against financial and customer expectations despite the negative impact of changes in foreign exchange rates in the quarter. On
Analyst Conference Call
Vector Aerospace Corporation will hold a third quarter 2009 conference call at
Interested parties can access the conference call in
A replay service will be available two hours following the conference call until midnight on
About Vector Aerospace Corporation ("Vector")
Vector is a global independent provider of aviation maintenance, repair and overhaul services. Through facilities in
Specific Note Regarding Forward Looking Statements
This news release may contain certain information that constitutes forward looking information within the meaning of applicable securities laws. These statements are based on Vector's current expectations, estimates, forecasts and projections related to the operating environment, economies and markets in which Vector operates, its financial condition and its general business. By their very nature, forward-looking statements are based on certain factors and assumptions and are subject to important risks and uncertainties. The forward-looking statements herein may differ materially from actual results or events. While Vector considers the assumptions on which these statements are made to be reasonable, based on information currently available to it, they may prove to be incorrect and readers are cautioned, therefore, not to place undue reliance on these statements as a number of important factors could cause actual results to differ materially from those expressed in such forward-looking statements.
These factors include, without limitation, global and local political factors, general economic, market and business conditions, fluctuations in the cost of borrowing, Vector's ability to receive timely regulatory approvals, competitive actions of other companies, including increased competition from original equipment manufacturers with their own in-house service providers, the occurrence of unexpected events such as fires, equipment failures and other similar events affecting Vector or other parties whose operations or assets directly or indirectly affect Vector and future demand for Vector's services. Readers should also refer to Vector's continuous disclosure materials filed with Canadian Securities Regulatory Authorities for additional information with respect to certain of these risk factors. A discussion of risk factors is contained in Vector's 2008 Annual Report and in all management's discussion and analysis of financial condition and results of operations filed since the 2008 Annual Report which are available on Vector's website and on SEDAR. Any forward looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Unless otherwise required under applicable laws, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Annual 2008 Consolidated Financial Statements and MD&A
The Company's complete annual consolidated financial statements for the year ended
For further information: Declan O'Shea, President & CEO, (416) 640-2121; Randal L. Levine, Senior Vice-President and Chief Financial Officer, (416) 640-2120; www.vectoraerospace.com
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