Saint-Georges, Quebec-based structural steel fabricator of construction products Canam Group Inc. reported net income of $3 million for Q1 2013, a significant improvement from the net loss of $1.3 million for the same period last year. Consolidated sales totaled $209.8 million compared with $208.3 million in 2012.
Canam Group President and Chief Executive Officer Marc Dutil stated the increased profit margins and the level of sales during Q1 2013 were encouraging signs given that the winter months are historically the least profitable period of the year in the construction industry. He added that the improved results are largely attributable to joist and steel deck sales, but also to bridge and light structural steel activities.
As at March 30, 2013, Canam Group's backlog of orders stood at $575 million, compared with $493 million as at December 31, 2012, representing an increase of 17 percent.