Egide Group had consolidated revenue (unaudited) for the third quarter 2017 of €7.90 million, including €2.91 million from the new subsidiary Santier Inc.
James (Jim) F. Collins, Chair-CEO, commented: "Santier's integration has proceeded as planned after four months of operations within the Group and exceeded our expectations in terms of sales and earnings. The Bollène site has been equipped with a clean room in addition to a chemical gold-plating line for optoelectronic applications. The costs associated with these investments, additional personnel required and startup costs impacted Egide SA's results in the period, with an improvement in productivity expected in the months ahead. Revenue for Egide USA remained stable despite the impact of the decision of our customer Textron Defense Systems to discontinue its Sensor Fused Weapon program.
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EGIDE will be pleased to meet investors during the 2017 European Large and Midcap Event, held in Paris on October 4 &5, 2017.
Satisfactory integration of Santier, and H1 revenue in line with objectives
Consolidated revenue (unaudited) for the 2017 first quarter amounted to €6.45 million, up 12.1 % year-on-year and 19.9% from the 2016 last quarter.
In 2016, operating results increased by 60% and gross operating profit was positive.
Following its strategy to concentrate on high-potential markets, Egide announces that is has acquired, as planned, the assets of TMS LLC (or Thermal Management Solutions, dba Santier)
OVERSUBSCRIBED AT 117.3%, RAISED TO €8.2 MILLION. Egide Group today announced the success of its capital increase by the issuance of shares with preferential subscription rights, and completed on February 14.The purpose of this operation was to finance in full the acquisition of the operating assets and liabilities of the US company, Santier, in addition to the working capital requirements of the new operating entity. Santier, based in San Diego, is a specialized manufacturer of thermal management materials for eliminating heat produced by electronic components and addressing primarily the US defense market.
James F. Collins, Chairman & CEO of the group, comments: "We are pleased to see the continued growth of revenue of the group, especially the French facility. A positive "book to bill" ratio of 1.18 has increased our backlog of current orders by over 3 million euros, or + 25% as compared to year end 2015. These facts, along with the capital expenditures made in 2015 and 2016 to produce High Temperature Cofired Ceramic in our US facility and the worldwide sales force put in place in 2016, have positioned the group for a strong 2017. Our expectations are for continued revenue increases of around 10% in 2017 for the group, along with improved profitability."