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[January 2007]
Interceramic Hits More Historic Highs
Interceramic (Internacional de Cerámica SAB de CV) reported that while the third quarter of 2006 brought uncertainty to Mexico as the country waited to sort out the results of the closest presidential election in Mexican history, the company posted historic highs in a number of categories, including sales (US$123.9 million), gross income (US$44.8 million), operating income (US$10.7 million) and EBITDA (US$17.2 million.
Plans have been finalised for yet another ceramic tile production facility to be constructed in Mexico which, when it comes on line in the fourth quarter of 2007, will increase consolidated production capacity by over 24%. All of Interceramic's existing facilities are operating at full capacity and the company regards a new plant as imperative to meet the sustained demand for its products both in Mexico and the USA.
Consolidated sales of US$123.9 million for the third quarter of 2006 beat the US$105.3 million in sales posted in the same quarter of 2005 by 17.66%. They were also more than US$10 million higher than the previous quarterly record attained in the fourth quarter last year. Gross income of US$44.8 million in the third quarter of 2006 grew by 18.94% over gross income of US$37.7 million for the third quarter of 2005.
Operating income rose by 30.18% between the two quarters, hitting US$10.7 million for the third quarter of 2006 compared to US$8.3 million last year. Year-to-date, operating income is up 32.85% for the year over the same three quarters of 2005. The healthy gain in operating income for the quarter resulted in the company's EBITDA for the quarter topping US$17.2 million, fully US$1 million higher than the previous record and 23.34% greater than EBITDA of US$13.9 million recorded in the third quarter of 2005.
Members of the Board said: "After an exciting 2005, we at Interceramic were very hopeful for an even better year in 2006 - and so it has turned out to be. At our current pace, consolidated sales for the year should end up at close to half a billion dollars. Although we continue to seek efficiencies and improvements in all aspects of our business, changes accomplished and investments made over the past few years have really fallen in to place for Interceramic. As always, we thank our investors, customers and employees for their continued and valuable support".
www.interceramicusa.com
ENDS