Saint-Georges, Quebec-based steel fabricator Canam Group Inc. announced Friday a year-on-year increase in both consolidated revenues and net income for the fourth quarter of 2014.
Consolidated revenues for the fourth quarter of 2014 totaled $383.6 million, representing a $102 million or 36.2 percent increase, as compared with revenues of $281.6 million for the same quarter in 2013. The increase is mainly attributable to joist and steel deck, heavy structural steel and light structural steel activities.
In the fourth quarter of 2014, net income attributable to shareholders totaled $13.8 million, or $0.33 per share, as compared with $10.8 million, or $0.26 per share, for the same period in 2013.
For the full-year 2014, revenues reached $1.23 billion compared to $1.028 billion in 2013, representing a $204.6 million or 19.9 percent increase. The upsurge in revenues is attributable to all of the corporation’s activities.
Net income in 2014 attributable to shareholders amounted to $29.3 million, or $0.70 per share, compared to $31.2 million, or $0.74 per share, for the previous fiscal year. The decrease is attributable to difficult weather conditions during the first four months of the year in northeastern North America, the compression of the adjusted gross margins of joist and steel deck activities in Canada and of bridge activities, and a change in the relative weight of the various activities in the global results of 2014 compared to 2013.