Thursday, March 5th4.1°C
25405
25263

Canam Group's Q2 profit falls amid lower margins in most of its markets

BOUCHERVILLE, Que. - Canam Group Inc. (TSX:CAM) reports it had $4.5 million of net income in its second quarter, down from $7.4 million a year earlier, due to lower margins on the Quebec-based company's specialized structural steel products.

"However, our results at the end of the quarter allowed us to build positive momentum that appears to be confirmed by the increase in the backlog of orders," Canam president and CEO Marc Dutil said in a statement.

Canam Group's backlog of orders was a record $857 million as of June 28, up from $793 million at the end of the first quarter of 2014 and $619 million at the end of the second quarter of 2013.

Revenue was up 11.4 per cent from a year earlier, rising to $281 million from $252 million in the second quarter of 2013.

Canam's net income amounted to 11 cents per share, down from 18 cents per share.

Headquartered in Boucherville, Que., northeast of Montreal, Canam operates 21 plants across North America and employs 3,600 people in Canada, the United States, Romania, India and Hong Kong.

The Canadian Press


Read more Business News

24696


Recent Trending




Today's Market
S&P TSX15103.11+20.271
S&P CDNX696.92-1.17
DJIA18135.72+38.82
Nasdaq4982.81+15.668
S&P 5002101.04+2.51
CDN Dollar0.8015+0.0004
Gold1196.30-4.2999
Oil52.90+0.35
Lumber287.00-3.70
Natural Gas2.826-0.015

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.65+0.10
Cantex0.035-0.005
Anavex Life Sciences0.184+0.004
Metalex Ventures0.045+0.005
Russel Metals24.27-0.68
Copper Mountain Mining1.240.00
Colorado Resources0.130.00
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.22-0.005

 





FEATURED Property
220475412563 Driftwood Crt.
5 bedrooms 5 baths
$929,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


25107