WATERDOWN, ONTARIO — (Marketwire) — 03/07/12 — Opta Minerals Inc. (TSX: OPM) today announced results for the three and twelve months ended December 31, 2011. All figures are reported in U.S. dollars and in accordance with International Financial Reporting Standards (IFRS), except where otherwise noted.
Financial Highlights (presented in $000s USD except per share amounts):
David Kruse, President and CEO of Opta Minerals, noted, „During the fourth quarter, Opta Minerals experienced positive revenue growth over the comparable period in 2010. Strong earnings in the steel sector were offset by weaker earnings in the industrial minerals sector. We have continued to manage production to demand and, our cost structure. We remain cautiously optimistic with the direction of the economic environment on our business.“
Operational Highlights:
Opta Minerals President and CEO, David Kruse, plans to host a conference call at 10:00AM Eastern Standard Time on Thursday, March 8th, 2012 to discuss fourth quarter 2011 results and recent corporate developments. After opening remarks, there will be a question and answer period. This conference call can be accessed with the toll free dial-in number 1-(866) 321-6651 or 1-(416) 642-5212; quote confirmation code 4026047. If you are unable to listen live, the conference call will be archived and can be accessed between March 8th, 2012 and March 15th, 2012, with the toll free dial-in number 1-(888) 203-1112 or 1-(647) 436-0148 followed by pass code 4026047.
Opta Minerals is a vertically integrated provider of custom process solutions and industrial mineral products used primarily in the steel, foundry, loose abrasive cleaning, water-jet cutting and municipal water filtration industries. The Company has production and distribution facilities in Ontario, Quebec, Saskatchewan, Louisiana, South Carolina, Virginia, Maryland, Indiana, Michigan, New York, Texas, Florida, Ohio, France and Slovakia. Opta has one of the broadest product lines in the industry.
FOOTNOTES:
Earnings before income taxes and interest („EBIT“); and earnings before interest, income taxes, depreciation and amortization („EBITDA“) as defined below, are both non-IFRS earnings measures that do not have standardized measures prescribed by IFRS, and therefore may not be comparable to similar measures presented by other publicly traded companies.
Notes
This press release may contain „forward-looking statements“ which reflect the current expectations of management of the Company regarding the Company-s future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as „may“, -would“, „could“, „should“, „will“, „anticipate“, „believe“, „plan“, „expect“, „intend“, „estimate“, „aim“, „endeavour“, „seek“, „predict“, „potential“ and similar expressions have been used to identify these forward-looking statements. These statements reflect management-s current beliefs with respect to future events and are based on information currently available to management of the Company. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company-s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; compliance with environmental regulations; exchange rate fluctuations as well as the other risks identified in the „Risk Factors“ section of the Company-s Annual Information Form and other public filings (copies of which may be obtained at ). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management-s assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release and, other than as required by law, the Company does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Intersegment revenues are recorded at transaction prices, which approximate cost. The Company-s assets, operations and employees are located in Canada, the United States and Europe.
External revenue by market is attributed to countries based on location of the customer.
Included in the mill and foundry products and services segment is revenue from one customer that individually exceeds 10% of the Company-s revenue.
Contacts: Opta Minerals Inc. David Kruse President and Chief Executive Officer 905-689-7361, ext 405
Opta Minerals Inc. Peter Fryters Chief Financial Officer and Secretary 905-689-7361, ext 405
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