IBC Advanced Alloys Reports Financials for Third Quarter

IBC Advanced Alloys Corp. (TSXV:IB,OTCQX:IAALF) reported unaudited third quarter financial statements for the quarter ended March 31, 2012.

As quoted in the press release:

Financial:

• Third quarter sales were $5,565,000 up 5% compared to the previous quarter ended December 31, 2011;
• Three-month loss was $1,174,000, down 20% compared to the previous quarter ended December 31, 2011;
• Cash on hand was $2,927,000 and working capital was $3,744,000;
• By comparison in the third quarter of fiscal 2011, customers ramped up orders prior to the Engineered Materials plant relocation. As a result, third quarter sales in fiscal 2011 were unusually strong;
• IBC liquidity has improved since the last fiscal year end of June 30, 2011. Bank debt, loans and notes payable are down from $8,223,000 to $4,991,000 at March 31, 2012;
• The Company’s management’s discussion and analysis, filed on SEDAR (www.sedar.com) has a complete discussion of the results of operations, financial position and liquidity and capital resources.

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