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Automodular Corporation: First Quarter 2014 Results

AJAX, ONTARIO -- (Marketwired) -- 05/08/14 -- Automodular Corporation ("Automodular" or "the Company") (TSX: AM) reports net earnings of $3.2 million or $0.16 per share for the quarter ended March 31, 2014 compared to $3.6 million or $0.18 per share in the same period in 2013.

The results for the first quarter of the year are summarized below (all figures in '000s except per share amounts):


                                                 Three months ended March 31
                                                    2014                2013
                                                       $                   $
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Sales                                             19,549              21,808
Net earnings                                       3,160               3,637
Per share (basic)                                   0.16                0.18
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The Board of Directors has declared a regular quarterly dividend of $0.06 payable June 5, 2014 to shareholders of record as at May 22, 2014.

Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford Motor Company's Oakville Assembly Plant. The Company has two operating facilities and employs approximately 525 people.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. Readers are cautioned not to rely on forward-looking statements. Except as required under continuous disclosure obligations, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular does not provide financial outlooks.

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