Canam Manac Reports A Net Income Of $27,603,000 In 2001.Business Editors BOUCHERVILLE, Quebec--(BUSINESS WIRE)--Feb. 20, 2002 The Canam Manac Group Inc. of Ville de Saint-Georges Saint-Georges is the name or part of the name of several places and people People
In France Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) was $93,148,000 compared with $135,062,000 in 2000. In the fourth quarter of 2001 sales totaled $274,417,000 while net income reached $4,977,000, or $0.14 per share, compared with sales of $305,880,000 and a net income of $17,272,000, or $0.51 per share, in 2000. The Chairman of the Board and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Marcel Dutil Marcel Dutil (born 1942 in St-Georges-de-Beauce, Canada) is a Canadian businessman. In 1963, he began working at Canam Steel Works, a company founded by his father Roger Dutil in 1960. In 1973, he became CEO of his father company know known as the Canam Manac Group. , attributed the decline in the performance of the Group to a slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. economy. Mr. Dutil added that The Canam Manac Group is very prepared to meet this challenge. Investments totaling $303,739,000, or $8.44 per share, have been made to modernize mod·ern·ize v. mo·dern·ized, mo·dern·iz·ing, mo·dern·iz·es v.tr. To make modern in appearance, style, or character; update. v.intr. To accept or adopt modern ways, ideas, or style. the Company's plants over the last six years allowing The Canam Manac Group to remain an industry leader. The 14,005 projects completed in 2001, including major projects such as the Boston Convention Centre, the New England Patriots  Editing of this page by unregistered or newly registered users is currently disabled until (UTC) due to vandalism. Stadium, the Philadelphia Eagles Niagara Falls, in the Niagara River, W N.Y. and S Ont., Canada; one of the most famous spectacles in North America. The falls are on the international line between the cities of Niagara Falls, N.Y. Casino casino or cassino (both: kəsē`nō). 1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. , illustrate the level of confidence clients have in The Canam Manac Group. The 18 plants in the Canam steel joist and steel construction components sector produced 497,814 tons of steel products compared with 531,060 tons in 2000, a decrease of 6%. Sales in this sector reached $827,748,000 compared with $829,686,000 in 2000. The steel components sector posted a net income of $39,365,000 compared with $57,883,000 in 2000. This is one of the best performances in the North American steel construction industry. As of December 31, 2001, the structural steel components sector had a backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of orders of 138,040 tons compared with 151,245 tons in 2000. In the semitrailer sem·i·trail·er n. A trailer having a set or several sets of wheels at the rear only, with the forward portion being supported by the truck tractor or towing vehicle. division, Manac's sales were $192,026,000 in 2001 compared with $252,647,000 in 2000. Segmented net loss was $5,703,000 compared with a net income of $7,639,000 in 2000. Manac manufactured 5,689 semitrailers in 2001 compared with 7,852 in 2000, a decrease of 27%. The backlog of orders is 1,874 semitrailers compared with 1,674 as of December 31, 2000, an increase of 12%. The recent increase in the backlog of orders demonstrates that the semitrailer industry has leveled off and that Manac has the tools, product quality, and range of products to take advantage of the economic recovery expected for the end of 2002. The competitive advantages developed by Manac over the last several years have allowed the Company to increase its market share and to become the 6th largest manufacturer in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Steel Plus Network continues to expand through 2001 and ended the year with 111 fabricator fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: members, compared with 95 in 2000. The Board of directors declared a quarterly dividend of $0.04 per Class "A" subordinate voting share, payable on March 29, 2002, to shareholders on record on March 15, 2002. The Canam Manac Group Inc. is an industrial company specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in the fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. of steel joists and steel construction components, semitrailers, and forestry equipment. It operates 22 plants in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Mexico, and France. The Company employs more than 5,255 people.
Consolidated Statement of Income
(in thousands except per share amounts)
three months twelve months
===============================================================
2001 2000 2001 2000
===============================================================
Sales $ 274,417 $ 305,880 $1,036,382 $1,110,597
---------------------------------------------------------------
Gross profit 46,529 65,512 189,139 232,485
---------------------------------------------------------------
Sales and
administration charges 24,722 22,752 92,413 85,239
---------------------------------------------------------------
Profit-sharing 272 3,873 3,578 12,184
---------------------------------------------------------------
Depreciation and
amortization 8,518 7,454 30,936 28,620
---------------------------------------------------------------
Financial charges 4,341 6,021 20,131 23,810
---------------------------------------------------------------
Other (income) expenses 63 (1,135) (1,056) (1,134)
---------------------------------------------------------------
Gain on disposal
of investment - - (7,159) (1,331) (7,159)
---------------------------------------------------------------
Income taxes 3,829 13,428 16,402 32,241
---------------------------------------------------------------
Share of income (loss)
of related partnerships 193 (3,006) (463) (3,122)
---------------------------------------------------------------
Net income 4,977 17,272 27,603 55,562
---------------------------------------------------------------
Net income per share,
basic $ 0.14 $ 0.51 $ 0.82 $ 1.61
---------------------------------------------------------------
Weighted average number
of shares, basic 33,486 34,514
---------------------------------------------------------------
Outstanding class "A" subordinate
shares as of December 31 34,008 33,695
===============================================================
Consolidated Balance Sheet
(in thousands)
As of December 31
===============================================================
Assets 2001 2000
===============================================================
Total current assets $ 312,058 $ 384,474
---------------------------------------------------------------
Fixed assets 316,743 275,173
---------------------------------------------------------------
Investments 98,125 100,676
---------------------------------------------------------------
Future income tax assets 3,499 1,334
---------------------------------------------------------------
Other assets 17,620 17,697
===============================================================
$ 748,045 $ 779,354
===============================================================
Liabilities
===============================================================
Total current liabilities $ 250,718 $ 238,671
---------------------------------------------------------------
Long-term debt 196,188 219,651
---------------------------------------------------------------
Deferred credits 8,457 31,057
---------------------------------------------------------------
Future income tax liabilities 9,816 8,250
---------------------------------------------------------------
Class "C" shares 2,105 2,105
---------------------------------------------------------------
Shareholders' Equity 280,761 279,620
===============================================================
$ 748,045 $ 779,354
===============================================================
Consolidated Statement of Cash Flow
(in thousands)
===============================================================
2001 2000
===============================================================
Cash flow related to operating activities $ 87,868 $ 85,816
---------------------------------------------------------------
Cash flow related to financing activities (37,105) (951)
---------------------------------------------------------------
Cash flow related to investing activities (56,582) (80,494)
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