SYS-CON MEDIA Authors: Srinivasan Sundara Rajan, Pat Romanski, Elizabeth White, Yeshim Deniz, Andreas Grabner

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Brampton Brick Reports Results for the Fourth Quarter and Year Ended December 31, 2013

BRAMPTON, ONTARIO -- (Marketwired) -- 03/18/14 --

(All amounts are stated in thousands of Canadian dollars, except per share amounts.)

Brampton Brick Limited (TSX:BBL.A) today reported net income of $2,629, or $0.23 per Class A Subordinate Voting share and Class B Multiple Voting Share, for the year ended December 31, 2013 compared to net income of $1,485, or $0.14 per share, in 2012. The aggregate weighted average number of Class A Subordinate Voting shares and Class B Multiple Voting shares outstanding was 10,940,354 in 2013 and 10,937,717 in 2012.

DISCUSSION OF OPERATIONS

YEAR ENDED DECEMBER 31, 2013

Revenues were $95,286 compared to $97,061 in 2012, representing a slight decline of $1,775, or 2%. Revenues in the Masonry Products business segment declined by $1,830. In the Landscape Products business segment, revenues increased marginally.

Cost of sales for the 2013 year amounted to $73,051, compared to $75,160 for 2012. The decrease in cost of sales was due to lower sales volumes of masonry products and lower yard and delivery expenses as a result of the decreased shipments.

Selling expenses for the year ended December 31, 2013 increased by $1,003. This increase is primarily due to an increase in personnel costs and the Company's ongoing investment in upgrading its information systems and enhancing its customer support capabilities.

General and administrative expenses increased by $63, to $6,742 for the year ended December 31, 2013 from $6,679 for the same period in 2012.

Loss on disposal of property, plant and equipment amounted to $334. The loss largely relates to certain equipment which was replaced at the Brampton clay brick plant in order to increase long-term operational efficiencies and to reduce production costs.

Other income of $140 for 2013 and $93 for 2012 includes the net of gains and losses on the translation of foreign currency transactions translated into the functional currency using exchange rates prevailing at the dates of the transactions.

As at December 31, 2013, the Company evaluated the recoverability of its secured, non-interest bearing, non-current loan receivable from Universal Resource Recovery Inc. ("Universal"), in the amount of $7,343. The recoverability of the loan was evaluated based on the fair value of the underlying Universal assets. The value of the assets was assessed by independent professional real estate and equipment appraisers. Accordingly, as at December 31, 2013, the Company determined that the loan receivable was impaired and reduced the carrying value of the loan receivable to $5,200, the fair value representing the Company's share of Universal's underlying assets. Accordingly the Company has recognized an accumulated impairment charge of $2,143, of which $707 was recorded in the fourth quarter and $865 was recorded for the full year.

Operating income decreased to $6,215 compared to $6,725 in 2012, largely due to the decrease in revenues, partially offset by improved operating margins.

Finance costs of $2,736 for the year ended December 31, 2013 decreased by $938 from 2012. The decrease was due to lower interest expense attributable to lower debt balances outstanding on the Company's term loans due to principal payments made during the year, and the redemption of all the subordinated secured debentures in the principal amount of $9,000 in the latter half of 2012.

Provision for income taxes totaling $850 for the 2013 year related solely to the pre-tax income of the Company's Canadian operations compared to $1,566 for the same period in 2012. The effective income tax rate was 24.4% in 2013 compared to 51.3% in 2012. Losses incurred in the U.S. subsidiaries were lower in 2013 compared to 2012. The Company has not recorded a deferred tax asset with respect to the potential deferred tax benefit pertaining to non-capital losses carried forward by its U.S. operations.

FOURTH QUARTER ENDED DECEMBER 31, 2013

For the fourth quarter ended December 31, 2013, the Company recorded a loss of $1,108, or $0.10 per Class A Subordinate Voting share and Class B Multiple Voting share, compared to a loss of $1,708, or $0.16 per Class A Subordinate Voting share and Class B Multiple Voting share, for the fourth quarter of 2012. The aggregate weighted average number of Class A Subordinate Voting shares and Class B Multiple Voting shares outstanding for the fourth quarter of each of 2013 and 2012 was 10,940,354.

For the fourth quarter of 2013, revenues decreased by $1,253 to $21,489 from $22,742 for the same period in 2012. The decrease in revenues was a result of lower masonry product shipments in the Canadian market.

An impairment loss of $707 on the Universal loan receivable was recognized in December 2013 compared to $656 in the fourth quarter of 2012 as discussed above.

Finance costs decreased for the fourth quarter of 2013 compared to the same period in 2012 for the same reasons discussed above for the year ended December 31, 2013.

A more detailed discussion with respect to each operating business segment follows:

MASONRY PRODUCTS

For the year ended December 31, 2013, revenues decreased by $1,830, or 3%, to $70,276 from $72,106 in 2012. A decrease in masonry product shipments in the Canadian market was offset, partially by increases in masonry product shipments in the U.S. market.

For the year ended December 31, 2013, this business segment reported operating earnings of $5,779, compared to $7,246 in 2012. Cost of sales decreased by $1,492 to $54,026 compared to $55,518 in 2012. The decrease in cost of sales due to lower shipments was offset by an increase in the per unit cost of production. Lower production volumes compared to 2012 negatively affected the operating margins and consequently operating income.

For the fourth quarter of 2013, revenues decreased by 14% to $15,579, from $18,097, in 2012 due to the same reasons as discussed above for fiscal 2013.

Fourth quarter operations in 2013 were negatively impacted by lower shipments and lower operating margins resulting in an operating loss of $96 compared to an operating income of $146 for the same period in 2012.

LANDSCAPE PRODUCTS

Revenues of the Landscape Products business segment increased slightly to $25,010, for the year ended December 31, 2013, from $24,955 in 2012.

The increase in revenues in this business segment occurred in the second half of the year and was due to new product introductions and a catch up in sales impacted by poor weather through the first two quarters in 2013.

For the year ended December 31, 2013, the Landscape Products business segment recorded operating income of $1,303 compared to $757 in 2012.

The Landscape Products business segment reported an operating loss of $151 on revenues of $5,910 for the fourth quarter ended December 31, 2013 compared to an operating loss of $568 on revenues of $4,645 in 2012. The improvement in operating results was due to the same reasons discussed above for the year ended December 31, 2013.

CASH FLOWS

For the year ended December 31, 2013, cash flow provided by operating activities totaled $9,695 compared to $16,153 in 2012. Higher payables disbursements and higher amounts in other assets related to a deposit paid in December 2013 in the amount of $1,890 pertaining to the Atlas Block asset acquisition contributed to the decrease in cash flows from operations.

The income tax payable on 2013 taxable income was offset by the utilization of a deferred tax asset in the amount of $2,031, thus reducing the net income tax payments to $1,653 for 2013. This deferred tax asset relates to the cumulative advances to Universal totaling $16,251 which were determined under taxation rules to be an allowable business investment loss and accordingly this deferred tax asset was recognized in 2011.

Cash utilized for purchases of property, plant and equipment totaled $3,422 in 2013, compared to $3,101 in 2012. In 2013, capital expenditures included approximately $490 relating to new quarry development costs, $646 relating to new products and equipment upgrades and $409 for upgrading the Company's management information systems.

Advances to Universal relating to the loan receivable for the year ended December 31, 2013 amounted to $4,673 compared to $2,670 in 2012.

Cash received from sale of property, plant and equipment in 2013, amounted to $62. In 2012, proceeds totaled $520 of which $461 pertained to the sale of certain obsolete production equipment no longer supported by the Company's operational processes.

Proceeds from issuance of a demand non-revolving loan amounted to $2,598 in December 2013. These funds were advanced to Universal and used, in part, to fully repay the outstanding balance of Universal's term bank loan and to facilitate the completion of the lease arrangement with Universal's new tenant at its Welland, Ontario facility.

Payments of term loans during 2013 and 2012 totaled $2,571 and $2,730, respectively.

In August and October 2012, the Company redeemed all of the subordinated secured debentures in the amount of $9,000. In addition, a 2% early redemption fee on the principal amount was paid to all debenture holders, as the debentures were to have matured in February 2013.

FINANCIAL CONDITION

The Company's Masonry Products and Landscape Products business segments are seasonal in nature. The Landscape Products business is affected to a greater degree than the Masonry Products business. As a result of this seasonality, operating results are impacted accordingly and cash requirements are generally expected to increase through the first half of the year and decline through the second half of the year.

As at December 31, 2013, bank operating advances were $11,641 compared to $10,435 as at December 31, 2012.

Trade payables totaled $11,514 at December 31, 2013 compared to $11,675 at December 31, 2012.

The ratio of total liabilities to shareholders' equity was 0.49:1 at December 31, 2013 compared to 0.50:1 at December 31, 2012. The decrease in this ratio from December 2012 to December 2013 was primarily due to higher retained earnings resulting from the improvement in operating results in 2013 and the increase in the foreign currency translation gain in 'Accumulated other comprehensive income' due to the weakening of the Canadian dollar against the U.S. dollar in 2013.

As at December 31, 2013, working capital was $7,766, representing a working capital ratio of 1.25:1 compared to working capital and a working capital ratio at December 31, 2012 of $7,325 and 1.25:1, respectively. The increase in working capital was primarily due to an increase in inventories offset, in part, by higher current debt. Cash and cash equivalents totaled $1,200 at December 31, 2013 compared to $1,412 at December 31, 2012.

The Company's bank credit agreement provides for borrowings up to $22,000 based on margin formulae for trade receivables and inventories, less priority claims and the mark-to-market exposure on swap contracts, if applicable. It is a demand facility secured by a general security agreement over all assets. The agreement also contains certain financial covenants.

As at December 31, 2013, the borrowing limit was $18,951. The utilization was $11,905 and was comprised of a $8,900 banker's acceptance 90 day note, a current account balance of $2,741, and outstanding letters of credit for $264.

The Company was in compliance with all financial covenants under its term financing agreement and operating credit facility as at December 31, 2013 and anticipates that it will maintain compliance throughout 2014.

The Company expects that future cash flows from operations, cash and cash equivalents on hand and the unutilized balance of its operating credit facility will be sufficient to satisfy its obligations as they become due.

On January 3, 2014, the Company completed its new $40,000 demand revolving reducing loan (the "Loan"). The proceeds were utilized to finance the purchase of the Atlas Block assets and to repay the outstanding balance of the term loan and an associated prepayment penalty.

The term of the new loan is nine years with interest payments only for the first year. Principal repayments commence in July 2015 at $500 per month in the months of July to November inclusive ($2,500 per year) to 2022, and a balloon payment in November 2022. The rate of interest is floating at the bank's prime rate plus a credit spread of 0.70% or at Banker's Acceptance rates plus a credit spread of 2.25%. The Company's credit spread is variable and determined by its interest coverage ratio. This loan is secured primarily by real estate and production equipment of the Company's Masonry Products and Landscape Products business segments in both Canada and the U.S. This liability will be classified as current on the consolidated balance sheets in 2014. Notwithstanding the classification of the loan as a current liability, the Company's new debt affords it many benefits including a lower interest rate, flexibility to have interest rates at either floating or fixed and flexibility to accelerate principal payments without any penalty. The Company is also permitted to redraw under the loan for the purchase of capital assets.

On January 7, 2014, the Company acquired substantially all of the assets of a concrete masonry and landscape products company located in the province of Ontario. The assets acquired included two concrete products manufacturing plants located in Hillsdale and Brockville, Ontario, plus inventory for a purchase price of $13,288.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein constitute "forward-looking statements". All statements that are not historical facts are forward-looking statements, including, among others, statements regarding the expected repayment of the loan receivable from Universal, forecasts of sufficient cash flows from operations and other sources of financing, anticipated compliance with financial covenants under debt agreements, anticipated sales of masonry and landscape products, and other statements regarding future plans, objectives, results, business outlook and financial performance. There can be no assurance that such forward-looking statements will prove to be accurate.

Such forward-looking statements are based on information currently available to management, and are based on assumptions and analyses made by management in light of its experience and its perception of historical trends, current conditions and expected future developments, including, among others, assumptions regarding pricing, weather and seasonal expectations, production efficiency, and there being no significant disruptions affecting operations or other material adverse changes.

Such forward-looking statements also involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward- looking statements. Such risks and uncertainties include, among others: changes in economic conditions, including the demand for the Company's primary products and the level of new home, commercial and other construction; large fluctuations in production levels; fluctuations in energy prices and other production costs; changes in transportation costs; foreign currency exchange and interest rate fluctuations; legislative and regulatory developments; as well as those assumptions, risks, uncertainties and other factors identified and discussed above under "Risks and Uncertainties" and those identified and reported in the Company's other public filings (including the Annual Information Form for the year ended December 31, 2013), which may be accessed at www.sedar.com.

The forward-looking information contained herein is made as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on forward-looking statements.

Brampton Brick is Canada's second largest manufacturer of clay brick, serving markets in Ontario, Quebec and the Northeast and Midwestern United States from its brick manufacturing plants located in Brampton, Ontario and near Terre Haute, Indiana. To complement the clay brick product line, the Company also manufactures a range of concrete masonry products, including concrete brick and block as well as stone veneer products. Concrete interlocking paving stones, retaining walls, garden walls and enviro products are manufactured in Markham, Milton and Brampton, Ontario and Wixom, Michigan. These products are sold to markets in Ontario, Quebec, Michigan, New York, Pennsylvania, Ohio, Kentucky, Illinois and Indiana under the Oaks(TM) trade name. Products are used for residential construction and for industrial, commercial, and institutional building projects.


                       Selected Financial Information                       
                                                                            
(in thousands of Canadian dollars)                                          
----------------------------------------------------------------------------
                                                                            
                                                 December 31,   December 31,
CONSOLIDATED BALANCE SHEETS                              2013           2012
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
ASSETS                                                                      
Current assets                                                              
  Cash and cash equivalents                    $        1,200 $        1,412
  Trade and other receivables                           9,891         10,832
  Inventories                                          25,032         22,287
  Taxes recoverable                                       282              -
  Loan receivable                                           -          1,392
  Other assets                                          2,565            575
                                              ------------------------------
                                                       38,970         36,498
Non-current assets                                                          
  Loan receivable                                       5,200              -
  Property, plant and equipment                       168,095        168,848
                                              ------------------------------
                                                                            
Total assets                                   $      212,265 $      205,346
                                              ------------------------------
LIABILITIES                                                                 
Current liabilities                                                         
  Bank operating advances                      $       11,641 $       10,435
  Trade payables                                       11,514         11,675
  Income taxes payable                                      1          2,110
  Current portion of debt                               5,704          2,928
  Decommissioning provisions                               50             50
  Other liabilities                                     2,294          1,975
                                              ------------------------------
                                                       31,204         29,173
                                              ------------------------------
Non-current liabilities                                                     
  Non-current portion of debt                          20,980         23,554
  Decommissioning provisions                            2,315          2,219
  Deferred tax liabilities                             15,016         13,427
                                              ------------------------------
Total liabilities                              $       69,515 $       68,373
                                              ------------------------------
EQUITY                                                                      
Equity attributable to shareholders of                                      
 Brampton Brick Limited                                                     
  Share capital                                $       33,711 $       33,711
  Contributed surplus                                   2,078          1,895
  Accumulated other comprehensive income                                    
   (loss)                                                 373        (2,655)
  Retained earnings                                   106,559        104,010
                                              ------------------------------
                                               $      142,721 $      136,961
                                              ------------------------------
Non-controlling interests                                  29             12
                                              ------------------------------
Total equity                                   $      142,750 $      136,973
                                              ------------------------------
                                                                            
Total liabilities and equity                   $      212,265 $      205,346
                                              ------------------------------
                                                                            
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                       Selected Financial Information                      
                                                                           
(in thousands of Canadian                                                  
 dollars, except per share                                                 
 amounts)                                                                  
---------------------------------------------------------------------------
                                                                           
                                                                           
CONSOLIDATED STATEMENTS OF                                                 
 COMPREHENSIVE INCOME          Three months ended          Year ended      
 (LOSS)                           December 31              December 31     
                                                                           
                                   2013        2012        2013        2012
---------------------------------------------------------------------------
                                                                           
Revenues                   $     21,489 $    22,742 $    95,286 $    97,061
                                                                           
Cost of sales                    17,732      19,217      73,051      75,160
Selling expenses                  2,246       2,028       8,219       7,216
General and administrative                                                 
 expenses                         2,085       1,929       6,742       6,679
(Gain) loss on disposal of                                                 
 property, plant and                                                       
 equipment                         (13)          40         334          96
Other income                       (86)        (50)       (140)        (93)
Impairment loss on loan                                                    
 receivable                         707         656         865       1,278
                           ------------------------------------------------
                                 22,671      23,820      89,071      90,336
                                                                           
Operating income (loss)         (1,182)     (1,078)       6,215       6,725
                                                                           
Finance expense                   (632)       (900)     (2,736)     (3,674)
                                                                           
Income (loss) before income                                                
 taxes                          (1,814)     (1,978)       3,479       3,051
                                                                           
Recovery of (provision for)                                                
 income taxes                                                              
  Current                           510         274         739     (1,301)
  Deferred                          196         (4)     (1,589)       (265)
                           ------------------------------------------------
                                    706         270       (850)     (1,566)
                           ------------------------------------------------
                                                                           
Net income (loss) for the                                                  
 period                    $    (1,108) $   (1,708) $     2,629 $     1,485
                           ------------------------------------------------
                                                                           
Net income (loss)                                                          
 attributable to:                                                          
  Shareholders of Brampton                                                 
   Brick Limited           $    (1,129) $   (1,709) $     2,549 $     1,483
  Non-controlling interests          21           1          80           2
                           ------------------------------------------------
Net income (loss) for the                                                  
 period                    $    (1,108) $   (1,708) $     2,629 $     1,485
                           ------------------------------------------------
                                                                           
Other comprehensive income                                                 
 (loss)                                                                    
  Items that may be                                                        
   reclassified                                                            
   subsequently to profit                                                  
   or loss:                                                                
  Foreign currency                                                         
   translation income                                                      
   (loss)                  $      1,453 $       520 $     3,028 $   (1,115)
                           ------------------------------------------------
                                                                           
Total comprehensive income                                                 
 (loss) for the period     $        345 $   (1,188) $     5,657 $       370
                           ------------------------------------------------
                                                                           
Total comprehensive income                                                 
 (loss) attributable to:                                                   
  Shareholders of Brampton                                                 
   Brick Limited           $        324 $   (1,189) $     5,577 $       368
  Non-controlling interests          21           1          80           2
                           ------------------------------------------------
Total comprehensive income                                                 
 (loss) for the period     $        345 $   (1,188) $     5,657 $       370
                           ------------------------------------------------
Net income (loss) per Class                                                
 A Subordinate Voting share                                                
 and Class B Multiple                                                      
 Voting share attributable                                                 
 to shareholders of                                                        
 Brampton Brick Limited          (0.10) $    (0.16) $      0.23 $      0.14
                                                                           
                           $                                               
                                                                           
Weighted average Class A                                                   
 Subordinate Voting shares                                                 
 and Class B Multiple                                                      
 Voting shares outstanding                                                 
 (000's)                         10,940      10,940      10,940      10,938
                                                                           
---------------------------------------------------------------------------
                       Selected Financial Information                       
                                                                            
(in thousands of Canadian dollars)                                          
----------------------------------------------------------------------------
                                                   Year ended December 31   
CONSOLIDATED STATEMENTS OF CASH FLOWS                    2013           2012
----------------------------------------------------------------------------
                                                                            
Cash provided by (used for)                                                 
Operating activities                                                        
  Net income for the year                      $        2,629 $        1,485
  Items not affecting cash and cash                                         
   equivalents                                                              
    Depreciation                                        7,300          7,070
    Current taxes                                       (739)          1,301
    Deferred taxes                                      1,589            265
    Loss on disposal of property, plant and                                 
     equipment                                            334             96
    Unrealized foreign currency exchange gain           (272)           (36)
    Impairment loss on loan receivable                    865          1,278
    Net interest expense                                2,737          3,674
    Other                                                 183             97
                                              ---------------  -------------
                                                       14,626         15,230
  Changes in non-cash items                                                 
    Trade and other receivables                         1,020          (884)
    Inventories                                       (2,336)        (1,614)
    Other assets                                      (1,976)             18
    Trade payables                                      (204)          2,582
    Income tax credits applied                              -            731
    Other liabilities                                     218            141
                                              ---------------  -------------
                                                      (3,278)            974
                                                                            
  Income tax payments                                 (1,653)            (7)
  Payments for decommissioning of assets                    -           (44)
                                              ---------------  -------------
Cash provided by operating activities                   9,695         16,153
                                              ---------------  -------------
                                                                            
Investing activities                                                        
  Purchase of property, plant and equipment           (3,422)        (3,101)
  Loan advances paid to Universal Resource                                  
   Recovery Inc.                                      (4,673)        (2,670)
  Proceeds from disposal of property, plant                                 
   and equipment                                           62            520
                                              ---------------  -------------
Cash used for investment activities                   (8,033)        (5,251)
                                              ---------------  -------------
                                                                            
Financing activities                                                        
  Increase in bank operating advances                   1,206          5,288
  Proceeds from issuance of demand non-                                     
   revolving loan                                       2,598              -
  Payment of term loans                               (2,571)        (2,730)
  Payment of subordinated secured debentures                -        (9,000)
  Interest paid                                       (2,557)        (3,534)
  Payments on obligations under finance leases          (540)          (638)
  Payment of dividends by subsidiary to non-                                
   controlling interests                                 (63)           (75)
  Proceeds from exercise of stock options                   -             19
                                              ---------------  -------------
Cash used for financing activities                    (1,927)       (10,670)
                                              ---------------  -------------
Foreign exchange on cash held in foreign                                    
 currency                                                  53              -
(Decrease) increase in cash and cash                                        
 equivalents                                            (212)            232
Cash and cash equivalents at the beginning of                               
 the year                                               1,412          1,180
                                              ---------------  -------------
Cash and cash equivalents at the end of the                                 
 year                                          $        1,200 $        1,412
                                              ---------------  -------------
                                                                            
----------------------------------------------------------------------------
                                                                            
                       Selected Financial Information                       
                                                                            
(in thousands of Canadian dollars)                                          
----------------------------------------------------------------------------
                                                                            
                                                                            
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY                                
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
                                                                            
                      Attributable to shareholders of Brampton Brick Limited
                      ------------------------------------------------------
                                                                 Accumulated
                                                                       Other
                                               Contributed     Comprehensive
                           Share Capital           Surplus     Income (Loss)
----------------------------------------------------------------------------
Balance - January 1,                                                        
 2012                  $          33,689 $           1,801 $         (1,540)
 Net income for the                                                         
  year                                 -                 -                 -
 Other comprehensive                                                        
  loss (net of taxes,                                                       
  $nil)                                -                 -           (1,115)
                      ------------------------------------------------------
Comprehensive (loss)                                                        
 income for the year                   -                 -           (1,115)
                      ------------------------------------------------------
 Stock options                                                              
  exercised                           22               (3)                 -
 Share-based                                                                
  compensation                         -                97                 -
----------------------------------------------------------------------------
Balance - December 31,                                                      
 2012                  $          33,711 $           1,895 $         (2,655)
----------------------------------------------------------------------------
                                                                            
                                                                            
----------------------------------------------------------------------------
Balance - January 1,                                                        
 2013                  $          33,711 $           1,895 $         (2,655)
----------------------------------------------------------------------------
 Net income for the                                                         
  year                                 -                 -                 -
 Other comprehensive                                                        
  income (net of                                                            
  taxes, $nil)                         -                 -             3,028
                      ------------------------------------------------------
Comprehensive income                                                        
 for the year                          -                 -             3,028
                      ------------------------------------------------------
 Dividends paid to                                                          
  non-controlling                      -                 -                 -
  interest                                                                  
 Share-based                                                                
  compensation                         -               183                 -
----------------------------------------------------------------------------
Balance - December 31,                                                      
 2013                  $          33,711 $           2,078 $             373
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------

                                                                            
                 Selected Financial Information                             
                                                                            
(in thousands of Canadian dollars)                                          
----------------------------------------------------------------------------
                                                                            
                                                                            
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY                                
----------------------------------------------------------------------------
                                                                            
                                                                            
                            Attributable to                                 
                        shareholders of Brampton                            
                             Brick Limited                                  
                      ------------------------------------------------------
                                                                            
                                                           Non-             
                            Retained                controlling        Total
                            Earnings        Total     interests       Equity
----------------------------------------------------------------------------
Balance - January 1,                                                        
 2012                      $ 102,527    $ 136,477  $         10    $ 136,487
 Net income for the                                                         
  year                         1,483        1,483             2        1,485
 Other comprehensive                                                        
  loss (net of taxes,                                                       
  $nil)                            -      (1,115)             -      (1,115)
                      ------------------------------------------------------
Comprehensive (loss)                                                        
 income for the year           1,483          368             2          370
                      ------------------------------------------------------
 Stock options                                                              
  exercised                        -           19             -           19
 Share-based                                                                
  compensation                     -           97             -           97
----------------------------------------------------------------------------
Balance - December 31,                                                      
 2012                      $ 104,010    $ 136,961  $         12    $ 136,973
----------------------------------------------------------------------------
                                                                            
                                                                            
----------------------------------------------------------------------------
Balance - January 1,                                                        
 2013                      $ 104,010    $ 136,961  $         12    $ 136,973
----------------------------------------------------------------------------
 Net income for the                                                         
  year                         2,549        2,549            80        2,629
 Other comprehensive                                                        
  income (net of                                                            
  taxes, $nil)                     -        3,028             -        3,028
                      ------------------------------------------------------
Comprehensive income                                                        
 for the year                  2,549        5,577            80        5,657
                      ------------------------------------------------------
 Dividends paid to                                                          
  non-controlling                  -            -          (63)         (63)
  interest                                                                  
 Share-based                                                                
  compensation                     -          183             -          183
----------------------------------------------------------------------------
Balance - December 31,                                                      
 2013                      $ 106,559    $ 142,721  $         29    $ 142,750
----------------------------------------------------------------------------
                                                                            
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The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
Software AG and Wipro Ltd. have announced a joint solution platform for streaming analytics that provides real-time actionable intelligence for the Internet of Things (IoT) market. “The key to successfully addressing the IoT market is the ability to rapidly build and evolve apps that tap into, analyze and make smart decisions on fast, big data”, said John Bates, Global Head of Industry Solutions and CMO, Software AG. To address the huge market potential created by streaming analytics in conj...
OneCloud Software has launched the OneCloud Partner Program. Responding to demand from prospective partners, the Program offers managed service providers (MSPs) and resellers the resources they need to grow their business with the OneCloud Recovery solution. OneCloud Recovery is an automated solution for disaster recovery/business continuity (DR/BC), which leverages Amazon Web Services as the disaster recovery site. “This is a tremendous opportunity with an innovative hybrid cloud-based DR pro...
Cloud Technology Partners on Wednesday announced it has been recognized by the Modern Infrastructure Impact Awards as one of the Best Amazon Web Services (AWS) Consulting Partners. Selected by the editors of TechTarget's SearchDataCenter.com, and by votes from customers and strategic channel partners, the companies acknowledged by the Modern Infrastructure Impact Awards represent the top providers of cloud consulting services for AWS including application migration, application development, inf...
MapR Technologies on Tuesday announced the availability of free Hadoop On-Demand Training for developers, analysts and administrators which represents a $50M in-kind contribution* to the broad Hadoop community. The Hadoop training program is a multi-course curriculum designed to expand worldwide adoption of Hadoop technology. The curriculum provides engaging and interactive video lessons, hands-on exercises, labs and quizzes, enabling professionals to acquire valuable Hadoop skills and knowledge...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Axios Systems on Tuesday announced it has selected CenturyLink Cloud as the hosting platform for Axios Systems’ IT Service Management (ITSM) solutions in Canada. CenturyLink, a global provider of communications and IT services, joins other leading technology providers across North America, Europe and APAC to help Axios’ international customers drive efficiencies and innovation across their service management provision. The arrangement with CenturyLink enables Axios to further strengthen its pres...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.