|By Marketwired .||
|May 8, 2014 02:29 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/08/14 -- PFB Corporation (TSX:PFB) ("PFB" or the "Corporation") reports its financial results for the first quarter ended March 31, 2014.
PFB Corporation reports a consolidated loss of $1,843,000, $(0.27) per share, for the three month period ended March 31, 2014. Adjusted results for the comparable period that exclude the effects of an after tax gain on a real estate transaction that was recorded in the comparable period of 2013, was a loss of $860, $(0.12 per share). The Corporation reported consolidated net income of $5,128,000, $0.77 per share, for the comparable three month period ended March 31, 2013 that included an after-tax gain in the amount of $5,988,000 realized on the sale of four properties.
Consolidated sales were $14,410,000 in the first quarter of 2014 compared to sales of $15,207,000 in the first quarter of 2013.
The Board of Directors has approved the payment of a regular quarterly dividend of $0.06 per common share. The dividend will be paid on May 30, 2014 to shareholders of record on May 19, 2014.
PFB Corporation is a vertically integrated manufacturer of insulating building products that are marketed across North America under five brands. Plasti-Fab® EPS Product Solutions® are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems® are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan® Structural Insulating Panels Systems (SIPS) are used to create structural walls and to replace trusses on roof systems to form an energy-efficient structural envelope. PFB Custom Homes Group includes Riverbend® Timber Framing, PrecisionCraft® Log &Timber Homes, Point Zero Homes(TM) and M.T.N. Design(SM). Each brand provides clients with our exclusive Total Home Solution® for building custom homes in the US, Canada and internationally that can include Insulspan SIPS for the walls and roof, and Advantage ICFS for the building's foundations.
PFB Corporation is listed for trading on the Toronto Stock Exchange, symbol PFB.
PFB's condensed consolidated financial statements and interim MD&A for the three month periods ended March 31, 2014 and 2013 will be posted on SEDAR (www.sedar.com) on or before May 15, 2014.
Stephen P. Hardy
Vice President & CFO
(403) 569 4303
(403) 569 4303 (FAX)
100, 2886 Sunridge Way NE
Calgary, Alberta T1Y 7H9