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New Video: IBC’s CEO Discusses the Company’s Recent Financial Turn-Around and Future Growth Strategies(June 12, 2018)
FRANKLIN, Ind., June 12, 2018 (GLOBE NEWSWIRE) -- In a new video, Major General Duncan Heinz (USMC, ret.), President and CEO of IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V:IB) (OTCQB:IAALF) discusses the Company’s strategies for future growth following IBC’s successful C$4.1 million capital raise and its achievement of operational profitability in the quarter ended on March 31, 2018 – the first time the Company had reached this financial milestone since mid-2008.
In a video interview, available for viewing here, General Heinz discusses how the Company intends to grow sales by acquiring new capital equipment and by maintaining a larger copper inventory, both of which will be enabled by the Company’s recent capital raise. He notes that there are several new product chemistries the Company intends to pursue in order to produce new and higher-margin products for niche markets. Finally, the General discusses how growth in the “Internet of Things” is already helping to boost sales for IBC.
Some highlights of the interview with the General include these excerpts:
On reaching operational profitability in fiscal Q3 of 2018:
- “In the quarter that ended March 31, we achieved a net operating profit of US$122,000, versus the prior quarter of a negative US$302,000. So, in a single quarter, we closed more than $400,000 in terms of net profit. If you look carefully at the numbers from previous quarters, we’ve been doing that kind of grunt force, hard work to get to these numbers. It has been all about the day-to-day operations in terms of how we do things more efficiently, how do we take costs out of our products, and make a better product. I’m very proud of the efforts of both of our operating divisions, and it has been truly both the Copper and EMC divisions in terms of achieving profitability.”
How IBC’s recent capital raise is expected to fuel further growth:
- “The immediate goal for growth is how do I increase my success rate in terms of order capture. In the Copper Division right now, a high percentage of our customers care more about my ability to deliver an item on a specific fulfillment date than they do about price. If I am able to produce that product for them, I’m more likely to get the sale. What is preventing me right now is the fact that … I don’t own the machine to be able to do the final machining on that work, and therefore I have to either find a subcontractor or I have to turn down the order. We have looked at orders across the last year and we have found a number of situations where, if we had owned a single machine, we could have captured US$1.7 million worth of more orders. And, those orders would have had a higher gross margin because we wouldn’t have had to send the part to a subcontractor to do a majority of that value-add. So, those are the kinds of targets that we are focusing on now.”
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