March 1 (Reuters) - Wajax Corp WJX.TO :
* Announces 2015 fourth quarter results, including a goodwill impairment and
plans for strategic reorganization
* Q4 revenue C$324.4 million versus I/B/E/S view C$309.5 million
* Q4 adjusted earnings per share C$0.20 excluding items
* Q4 loss per share C$1.66
* Q4 earnings per share view C$0.35 -- Thomson Reuters I/B/E/S
* During 2016, it will be transitioning from its current three independent
product divisions to a leaner and more integrated organization
* Says expect lower year-over-year earnings in the first half of 2016
* Anticipates annual cost savings of approximately $15 million flowing into
2017 earnings
* Excluding estimated $12 million restructuring provision in Q1 2016, an
estimated net benefit of about $4 million is expected to occur in 2016
* Says during the second half of 2016, earnings are expected to improve
slightly
* Upon completion of restructuring, will have reduced headcount across its
Canada-wide organization by approximately 10% since beginning of 2015
* Says "our outlook for 2016 is that market conditions will remain very
challenging"
* On an adjusted net earnings basis, Q4 results were significantly negatively
impacted by energy sector related slowdown in western Canada"
* Excluding impact of the $12 million restructuring provision, expect lower
year-over-year earnings in the first half of 2016
* Source text for Eikon Further company coverage WJX.TO