Key figures (thousands of $) for the second quarter ended 30 June
|Total net income
For the second quarter of 2012 (ended 30 June 2012) ZCL Composites, headquartered in Edmonton, Canada, reports revenue of $42.9 million, up 44% from the second quarter of 2011.
Total net income for the second quarter 2012 $4.2 million.
For the first half of 2012 ZCL Composites reports revenue of $75.4 million, up 42% on the first half of 2011, and net income of $5.8 million, up from a net loss of $0.4 million for the first half of 2011.
ZCL reports that the second quarter 2012 is the its fifth consecutive profitable quarter and notes that historically the first half of the year is slower due to the seasonal nature of its products.
"Our strong performance in the first six months of 2012 demonstrates the execution of management's key objectives to continue to improve the 12 month efficiency of our North American plant infrastructure," says Rod Graham, President and CEO, ZCL Composites.
"Our sales team across all three product groups, Petroleum Products, Water Products and Corrosion Products, has done an effective job of both generating record quarterly revenues while building a $62 million backlog. We are optimistic that the results for the remainder of 2012 will continue to exceed those achieved in 2011.
On 8 August, Ron Bachmeier, previously ZCL's Chief Operating Officer, became President and CEO, replacing Rod Graham.
View our company profile of ZCL Composites here.