IBC Advanced Alloys has reported its financial results for the quarter ended March 31, 2022. IBC booked another profitable quarter with comprehensive income of US$287,000 in the quarter, a 107% increase over comprehensive income of US$139,000 in the prior-year period. This quarter’s success marks IBC’s second consecutive quarter of profitable operations.
Consolidated sales of US$6.3 million in the quarter increased by 16.0% over the prior-year period and were higher by 38.8% in the nine months ended March 31, 2022, over the comparable prior-year period.
Consolidated adjusted earnings before interest, taxes, depreciation, and amortisation (Adjusted EBITDA) for the quarter ended March 31, 2022, was US$854,000, a 24.5% increase from US$686,000 in the comparable prior-year period. In the nine months ended March 31, 2022, adjusted EBITDA of US$2.2 million jumped 157.4% from US$838,000 in the prior-year period. (£1.00 = US$1.26 at time of publication).
