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Almonty Industries (TSXV:AII) reported its audited consolidated financial statements and management discussion & analysis for the year ended September 30, 2012. The company earned a total revenue of $21,645; gross profit was $10,539 representing a gross profit margin of 49.2%, EBITDA of $7,203 and net income of $2,415. Unless otherwise indicated, all currency amounts contained in this news release are in thousands of Canadian dollars.
As quoted in the press release:
Almonty reported revenue of $5,394, gross profit of $2,878 representing a gross profit margin of 53.9%, EBITDA1 of$1,848 and net income of $1,025 for the three month period ended September 30, 2012. For the Year ended September 30, 2012 revenue totalled $21,645, gross profit was $10,539 representing a gross profit margin of 49.2%, EBITDA1 of $7,203 and net income of $2,415.
Almonty Industries CEO Lewis Black said:
Our rigorous optimization efforts have yielded the results we expected and we are on track to achieve our minimum targeted tungsten recovery rate of 65%. Our cash operating cost are continuing to trend down towards our targeted level of $125-130 per MTU, positioning the Company to continue generating positive cash flow in the context of the current APT commodity pricing environment. The Company is ready to capitalize on the anticipated increase in demand for Tungsten concentrate in 2013.
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