Boucherville, Quebec-based structural steel fabricator Canam Group announced Wednesday its Q4 and fiscal 2011 results. Total consolidated sales for the full-year were C$881 million--a 20.2 percent increase over C$732.7 million for the full-year in 2010. However, Canam experienced a net loss of C$32.5 million compared to a net income of C$1.1 million in 2010. For Q4, net income totaled C$3.3 million-compared to a net income of C$1 million during Q4 of fiscal 2010. Consolidated sales surged 17.4 percent in Q4 of fiscal 2011 to C$286.3 million from C$243.8 million during Q4 of fiscal 2010.
The increase in sales during 2011 can be attributed to Canam's activities in Canada and the integration of the activities of United Steel Deck, according to Canam Group's President and CEO, Marc Dutil. Mr. Dutil also remarked that weak non-residential construction in the United States exerted downward pressure on profit margins on both sides of the border.