May 3 (Reuters) - Wajax Corp WJX.TO
* Wajax announces 2016 first quarter results, including
$12.5 million of restructuring costs
* Q1 revenue c$285 million versus i/b/e/s view c$291.9
million
* Q1 adjusted loss per share c$0.03 excluding items
* Q1 loss per share c$0.49
* Q1 earnings per share view c$0.17 -- Thomson Reuters
I/B/E/S
* Wajax corp says reorganization announced last quarter is
proceeding on schedule
* Consistent with last quarter, our outlook for 2016 is that
market conditions will remain very challenging
* Says anticipated annual cost savings of approximately $15
million to be realized in 2017
* During h2 2016 earnings are expected to improve compared
to first half of 2016
* Consolidated backlog at march 31, 2016 of $205.8 million
increased 22% compared to december 31, 2015
* Says estimated net benefit of between $6 million and $7
million is expected to occur in 2016
* Expect lower year-over-year earnings in first half of 2016
* Wajax corp says expect to realize savings in 2016 of
between $6 million and $7 million from reorganization
* Upon successful completion of reorganization, corp will
have reduced its headcount across canada by approximately 10%
since beginning of 2015
* Continue to expect earnings will be under significant
pressure due to difficult market conditions in western canada
* Expect earnings will be under significant pressure also
due to reductions in resource customer capital and operating
expenditures
Source text for Eikon: ID:nCNW6f8gra
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