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

2019/10/10
Montreal, Quebec

Velan Inc. (TSX: VLN) (the “Company”), a world-leading manufacturer of industrial valves, announced today its financial results for its second quarter ended August 31, 2019.
 
Highlights
  • Sales of US$85.5 million for the quarter
  • Net earnings1 of US$1.4 million for the quarter
  • EBITDA2 of US$5.2 million for the quarter
  • Net new orders (“Bookings”) of US$90.7 million for the quarter
  • Order backlog of US$425.6 million at the end of the quarter, of which US$141.4 million is scheduled for delivery beyond the next 12 months
  • Net cash of US$34.9 million at the end of the quarter
 
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