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Montreal, June 14, 2007 - Dectron
Internationale (TSX: DTL):
Dectron Announces First Quarter 2007 Results
Montreal, June 13, 2007 – Dectron Internationale, Inc., a
leader in the heating, ventilation and air conditioning, indoor air security
and water generation markets, announced today its financial results for the
first quarter ended April 30, 2007. Revenues for the three months ended April
30, 2007 were $17.4 million, a $1.6 million (9.8%) increase over the prior
year’s first quarter revenues of $15.9 million. The growth is seen across all
divisions but is mainly attributed to sales of Dectron pool dehumidification
unit.
Gross profit increased by $328,000 to $4.7 million from $4.4 million in the same
period last year. As a percentage of revenues, gross profit margin was at 27.0%
a decrease from the prior year’s gross profit margin of 27.5%. The gross profit
margin was adversely affected by aggressive pricing strategies in the Ecosaire/
Circul-aire markets as well as the mix due to higher sales volume of sourced
products at lower margins.
Selling expenses decreased by $71,000 to $1.9 million in the three months ended
April 30, 2007 compared to $2.0 million for the period ended April 30, 2005. As
a percentage of revenues, selling expenses decreased to 11.2% from 12.7%.
General and administrative expenses increased by $77,000 (6.5%) to $1.3 million
from $1.2 million for the period ended April 30, 2006. As a percentage of
revenues, general and administrative expenses actually decreased to 7.3% from
7.7%.
Depreciation and amortization expenses decreased to $322,000 in the three months
ending April 30, 2007 compared to $414,000 in 2006 due to lower amortization of
deferred charges. Financial expenses increased slightly ($17,000) to $349,000
from $332,000.
Net earnings in the three months period ending April 30, 2007 almost doubled to
$555,000 (or $0.18 per share) compared to net earnings of $289,000 (or $0.09
per share) in the corresponding period in 2006. EBITDA (Earnings Before
Interest, Taxes, Depreciation and Amortization) is a non-GAAP measure used by
many in the industry as a measurement of operational performance. For the three
month period ended April 30, 2007
EBITDA increased 32.0% over the previous year to $1.5 million from $1.1 million
last year.
Dectron Internationale, Inc. is a global provider of custom and
semi-custom IAQ (indoor air quality) and HVAC-R (heating, ventilation and air
conditioning and refrigeration) products and services to the building systems,
food processing, medical, petrochemical, and various industrial and commercial
markets. Established in Montreal, the Company has 460 employees in its
manufacturing facilities. Its shares are listed on the TSX (DTL).
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