VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/09/13 -- Energold Drilling Corp. (TSX VENTURE: EGD) ("Energold" or "the Company") is pleased to announce record high annual revenue in 2012 of $141.5 million across three business divisions, representing a 6.0% increase over 2011 revenue of $133.5 million, despite a challenging year for commodities overall. Notwithstanding the downturn in mineral drilling activity in mid-2012, the Company achieved gross margins of 22.9% for the full year and has reduced revenue seasonality compared to previous years when it did not enjoy the benefits of the energy and manufacturing divisions. Adjusted net earnings(ii) for the year was $2.3 million or $0.05 per share. A conference call is planned for today, April 9, 2013 at 4:30pm Eastern time. Dial-in numbers are 647-426-1845 or 1-866-782-8903. Please call in 15 minutes before to ensure participation.
Fourth quarter 2012 revenue totalled $25.7 million compared to $35.3 million in the same period in 2011. Historically, this is the slowest quarter for the Company. Gross margin for the quarter was 8.1% on a Company-wide basis.
The Company enters 2013 in an excellent financial position with a strong balance sheet including cash and cash equivalents of $28.5 million.
2012 Annual Results Comparison ($CAD ,000s except per-share amounts andmetres drilled)---------------------------------------------------------------------------- Year over Year For Three Months Performance Ended December 31 Comparison---------------------------------------------------------------------------- 2012 2011 2012 2011----------------------------------------------------------------------------Revenue---------------------------------------------------------------------------- Mineral 14,971 27,099 80,439 105,783---------------------------------------------------------------------------- Energy 2,513 4,406 47,148 13,473---------------------------------------------------------------------------- Manufacturing 8,220 3,797 13,927 14,227----------------------------------------------------------------------------Total Revenue $25,704 $35,302 $141,514 $133,483----------------------------------------------------------------------------Earnings (Loss)---------------------------------------------------------------------------- Mineral (393) 1,112 3,709 15,310---------------------------------------------------------------------------- Energy (4,318) 11,312 (11,781) 11,021---------------------------------------------------------------------------- Manufacturing (284) 301 (578) 97----------------------------------------------------------------------------Total Earnings $(4,995) $12,725 $(8,650) $26,428----------------------------------------------------------------------------Earnings Per Share Basic $(0.11) $0.30 $(0.19) $0.65---------------------------------------------------------------------------- Diluted $(0.11) $0.30 $(0.19) $0.64--------------------------------------------------------------------------------------------------------------------------------------------------------EBITDA(i) $(2,442) $15,561 $6,548 $36,718----------------------------------------------------------------------------Adjusted Earnings(ii) $(4,392) $3,094 $2,339 $14,143----------------------------------------------------------------------------Adjusted Earnings Per Share Basic $(0.10) $0.07 $0.05 0.35---------------------------------------------------------------------------- Diluted $(0.10) $0.07 $0.05 0.34---------------------------------------------------------------------------- As of December As of December 31, 2012 31, 2011----------------------------------------------------------------------------Cash $28,493 $22,783----------------------------------------------------------------------------Working Capital $81,847 $69,341----------------------------------------------------------------------------(i) EBITDA - Earnings before interest, taxes, depreciation and amortization (see non-GAAP (generally accepted accounting principles) financial measures).(ii) Adjusted Earnings - Excludes earnout payment and non-cash items which include accretion expense on debenture, finance cost related to sales- leaseback finance lease, share-based payments, foreign exchange, dilution and equity gain/loss on IMPACT, impairment/write-down of assets, gain on acquisition.
