Cinergy Q2 earnings at $0.47 per share, up 80% YoY.

• Cinergy reports Q2 2003 earnings of $0.47 per share, up from $0.26 in 2002. • Charges of $0.04 for retirement programs and a technology write-off were included in 2003 earnings. • Discontinued operations contributed $0.05 per share in Q2 2003. • Reported earnings exclude a $0.25 per share charge in Q2 2002.

Title: IBC Advanced Alloys Reports Financial Results for Q1 2025

IBC Advanced Alloys Corp. (TSX-V: IB) has released its financial results for the quarter and nine months ended March 31, 2025. The company reported a significant decline in sales and profitability compared to the same period in 2024, driven primarily by non-recurring orders and market uncertainty.

Key Financial Highlights:

- Quarterly Sales: Sales in the Copper Alloys division, the company's continuing operations, declined by 43.4% year-over-year (YoY) to $4.516 million, primarily due to two large, non-recurring orders in the comparative period of 2024.
- Operating Loss: The company reported a quarterly operating loss of $81,000, compared to operating income of $764 in the same period in 2024.
- Adjusted EBITDA: The company booked positive adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) of $255,000 in the quarter, but reported a YTD loss of $126,000.
- Consolidated Net Loss: IBC reported a consolidated YTD net loss of $2.3 million, or $0.029 per share, for continuing operations, and a loss of $3.2 million including discontinued operations.

Discontinued Operations Impact:

The company's Engineered Materials (EM) division, which ceased operations in June 2024, contributed significantly to the overall loss. The EM division incurred ongoing closing costs and higher-than-historical selling, general, and administrative (SG&A) expenses, which were not previously split with the EM division.

Market and Economic Factors:

Executive Chairman and CEO Mark A. Smith attributed the softer product demand to increased market uncertainty driven by various U.S. and other government policies. He also noted that the company expects global demand for copper and copper alloy products to continue rising due to increasing use in transportation, electronics, energy, and other sectors.

Looking Ahead:

IBC expects SG&A expenses to remain at current levels until the plant lease expires in January 2026. The company is focused on increasing production capacity, reducing unit costs, expanding its product portfolio, and entering new markets.

References:
[1] https://www.morningstar.com/news/accesswire/1033394msn/ibc-advanced-alloys-reports-financial-results-for-quarter-ended-march-2025