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Velan Inc. reports its first quarter 2019/20 financial results

2019/07/11
Montreal, Quebec

Velan Inc. (TSX: VLN) (the “Company”), a world-leading manufacturer of industrial valves, announced today its financial results for its first quarter ended May 31, 2019.

Highlights
  • Sales of US$83.8 million for the quarter
  • Net loss1 of US$5.8 million for the quarter
  • Net new orders (“Bookings”) of US$64.2 million for the quarter
  • Order backlog of US$423.3 million at the end of the quarter, of which US$140.9 million is scheduled for delivery beyond the next 12 months
  • Net cash of US$39.4 million at the end of the quarter

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