Inventronics Reveals First Quarter 2024 Financial Results

Inventronics Limited, a leading designer and manufacturer of enclosures for various industries in North America, has reported its unaudited financial results for the first quarter of 2024. The Corporation announced net earnings of $8,000, or 0.2 cents per share, on revenue of $1,432,000 for the three months ended March 31, 2024. This is a significant decrease from the same period in 2023, where net earnings were $325,000, or 6.7 cents per share, on revenue of $3,335,000.

The decrease in earnings is attributed to the low demand for enclosures in the fourth quarter of 2023, which led to customers working through their excess inventories. However, the Corporation has seen a strengthening in demand for enclosures in the first quarter of 2024.

In terms of financial position, Inventronics reported working capital of $2,206, property, plant, and equipment valued at $3,246, long-term debt of $2,391, and shareholders’ equity of $2,824 as of March 31, 2024.

Inventronics Limited designs and manufactures enclosures for customers in the telecommunications, cable, electric distribution, energy, and other industries in North America. The Corporation operates an ISO 9001-registered production facility in Brandon, Manitoba.

For more information about Inventronics and its financial results, interested parties can refer to the Corporation’s unaudited interim financial statements for the first quarter of 2024 and accompanying management’s discussion and analysis filed on SEDAR at www.sedarplus.ca. Shares of Inventronics trade on the TSX Venture Exchange under the symbol “IVX.”