News
Velan Inc. reports its third quarter 2019/20 financial results
2020/01/09
Montreal, Quebec
Velan Inc. (TSX: VLN) (the “Company”), a world-leading manufacturer of industrial valves, announced today its financial results for its third quarter ended November 30, 2019.
Highlights
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Velan Inc. (TSX: VLN) (the “Company”), a world-leading manufacturer of industrial valves, announced today its financial results for its third quarter ended November 30, 2019.
Highlights
- Sales of US$88.7 million for the quarter
- Gross profit percentage of 25.0% for the quarter
- Net loss of US$0.8 million for the quarter
- Operating profit before restructuring and transformation costs of US$1.0 million for the quarter
- Adjusted EBITDA of US$4.3 million for the quarter
- Net new orders (“Bookings”) of US$97.2 million for the quarter
- Order backlog of US$432.1 million at the end of the quarter, of which US$145.1 million is scheduled for delivery beyond the next 12 months
- Net cash of US$39.0 million at the end of the quarter
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