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BRIEF-Zcl Composites Reports Q4 And Fiscal 2018 Financial Results

Published 2019-03-07, 05:34 p/m
© Reuters.  BRIEF-Zcl Composites Reports Q4 And Fiscal 2018 Financial Results

March 7 (Reuters) - ZCL Composites Inc ZCL.TO :

* ZCL COMPOSITES REPORTS Q4 AND FISCAL 2018 FINANCIAL RESULTS

* Q4 EARNINGS PER SHARE C$0.11

* Q4 REVENUE FELL 6 PERCENT TO C$47.5 MILLION

* BACKLOG WAS $41.4 MILLION AS AT DECEMBER 31, 2018

* EXPECT ZCL'S REVENUE IN 2019 TO IMPROVE OVER 2018 BUT MIGHT NOT REACH 2017 LEVELS

* MARGINS ARE EXPECTED TO IMPROVE IN 2019 OVER 2018 LEVELS AS PROFIT IMPROVEMENT PLAN CONTINUES TO GAIN TRACTION

* TARGETING TO GET ADJUSTED EBITDA AS A PERCENTAGE OF REVENUE HALFWAY BACK TO 2017 RESULTS

* 2019 RESULTS FROM U.S. OPERATIONS MAY BE NEGATIVELY AFFECTED BY SIGNIFICANT ADDITIONAL TARIFF ON FIBREGLASS IMPORTED FROM CHINA

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