iFabric Corp. Announces Fifth Consecutive Year of Revenue Growth
iFabric Corp (TSX:IFA, OTCQX:IFABF) has reported its fifth consecutive year of revenue growth, with the last two years showing strong double-digit increases. The company achieved record revenues exceeding $27 million in full-year 2024, representing a 20% increase from the previous year.
Despite the strong performance, revenues fell slightly under $1 million below management's target range due to the Vancouver Port strike affecting Q4 deliveries. Nevertheless, Q4 2024 marked the largest single-quarter performance in the company's history. The delayed shipments are scheduled for delivery in Q1 2025.
iFabric Corp (TSX:IFA, OTCQX:IFABF) ha riportato il suo quinto anno consecutivo di crescita dei ricavi, con gli ultimi due anni che hanno mostrato forti aumenti a doppia cifra. L'azienda ha raggiunto ricavi record che superano i 27 milioni di dollari nell'intero anno 2024, rappresentando un aumento del 20% rispetto all'anno precedente.
Nonostante le buone performance, i ricavi sono scesi leggermente al di sotto del target fissato dalla direzione, con un disavanzo di meno di 1 milione di dollari a causa dello sciopero nel porto di Vancouver che ha influenzato le consegne del quarto trimestre. Tuttavia, il quarto trimestre del 2024 ha segnato la migliore performance trimestrale nella storia dell'azienda. Le spedizioni ritardate sono programmate per la consegna nel primo trimestre del 2025.
iFabric Corp (TSX:IFA, OTCQX:IFABF) ha informado su quinto año consecutivo de crecimiento de ingresos, con los últimos dos años mostrando fuertes aumentos de dos dígitos. La empresa alcanzó ingresos récord que superan los 27 millones de dólares en el año completo 2024, representando un aumento del 20% con respecto al año anterior.
A pesar del sólido rendimiento, los ingresos cayeron ligeramente por debajo de 1 millón de dólares de la meta establecida por la dirección debido a la huelga en el puerto de Vancouver que afectó las entregas del cuarto trimestre. No obstante, el cuarto trimestre de 2024 marcó el mejor rendimiento trimestral en la historia de la empresa. Los envíos retrasados están programados para ser entregados en el primer trimestre de 2025.
iFabric Corp (TSX:IFA, OTCQX:IFABF)는 연속 다섯 번째 해에 수익이 증가했다고 보고했습니다. 지난 두 해 동안 두 자릿수의 강력한 증가세를 보였습니다. 이 회사는 2024년 전체 연도에 2,700만 달러를 초과하는 기록적인 수익을 달성했으며, 이는 전년도에 비해 20% 증가한 수치입니다.
강력한 성과에도 불구하고, 수익은 경영진의 목표 범위에서 약 100만 달러가 부족했습니다. 이는 벤쿠버 항구의 파업으로 인한 4분기 배달에 영향을 미쳤습니다. 그럼에도 불구하고, 2024년 4분기는 회사 역사상 가장 큰 단일 분기 실적을 기록했습니다. 지연된 선적은 2025년 1분기에 배송될 예정입니다.
iFabric Corp (TSX:IFA, OTCQX:IFABF) a annoncé son cinquième année consécutive de croissance des revenus, avec les deux dernières années montrant de fortes augmentations à deux chiffres. L'entreprise a réalisé des revenus records dépassant 27 millions de dollars pour l'année 2024, représentant une augmentation de 20% par rapport à l'année précédente.
Malgré cette performance solide, les revenus ont légèrement chuté en dessous de 1 million de dollars sous la plage cible de la direction en raison de la grève du port de Vancouver qui a affecté les livraisons du quatrième trimestre. Néanmoins, le quatrième trimestre 2024 a marqué la meilleure performance trimestrielle de l'histoire de l'entreprise. Les expéditions retardées sont programmées pour être livrées au premier trimestre 2025.
iFabric Corp (TSX:IFA, OTCQX:IFABF) hat das fünfte aufeinanderfolgende Jahr mit Umsatzwachstum bekanntgegeben, wobei die letzten zwei Jahre starke zweistellige Zuwächse verzeichneten. Das Unternehmen erzielte Rekordumsätze von über 27 Millionen Dollar im Gesamtjahr 2024, was einem 20%igen Anstieg im Vergleich zum Vorjahr entspricht.
Trotz der starken Leistung sanken die Umsätze leicht um weniger als 1 Million Dollar unter die Zielspanne der Geschäftsführung, was auf den Streik im Hafen von Vancouver zurückzuführen ist, der die Lieferungen im vierten Quartal beeinträchtigte. Dennoch verzeichnete das vierte Quartal 2024 die größte Einzelquartalsleistung in der Unternehmensgeschichte. Die verspäteten Lieferungen sind für das erste Quartal 2025 geplant.
- Fifth consecutive year of revenue growth
- 20% year-over-year revenue increase to over $27M in 2024
- Record-breaking Q4 2024 performance
- Company maintains profitability
- Missed management's revenue target by nearly $1M due to Port of Vancouver strike
- Q4 2024 shipment delays pushed to Q1 2025
MARKHAM, ON / ACCESS Newswire / February 3, 2025 / iFabric Corp. (TSX:IFA)(OTCQX:IFABF), a leading provider of innovative functional-fabrics, value-added specialty apparel, and surface-treatment technologies, is pleased to announce its fifth consecutive year of revenue growth, with the last two years each reflecting strong, double-digit increases.
Full-year 2024 was another record-setting year, with revenues of greater than
As a profitable and growing firm, iFabric continues to broaden its market footprint, and its forward-looking strategy remains focused on developing cutting-edge apparel solutions and enhancing its product lines. The upcoming year of 2025 is expected to be another period of robust growth, as iFabric's new product initiatives, combined with its solid core programs, position the company to achieve continued revenue and profit gains in 2025.
"We are extremely proud of our consistent track record of growth, and our results underscore the strength of our team and the trust our customers place in us," said Hylton Karon, CEO of iFabric Corp. "As we head into 2025, we are confident that our ever-increasing momentum will carry us forward, particularly as we expand our product portfolio and reach new markets. With strong operational execution we're positioned for another record year," concluded Mr. Karon.
About iFabric Corp:
Headquartered in Markham, Ontario, iFabric, www.ifabriccorp.com, is listed on the TSX and, currently has 30.3 million shares issued and outstanding. Its two strategic divisions offer a variety of innovative products and services through wholly-owned subsidiaries, namely, Intelligent Fabric Technologies (North America) Inc. ("IFTNA") and Coconut Grove Pads Inc. ("Coconut Grove").
IFTNA is focused on development and sale of high-performance sports apparel, medical protective apparel, consumer protective apparel, and proprietary treatments that provide "intelligent" properties to fabrics, foams, plastics, and numerous other surfaces, thereby improving the safety and well-being of the user. Such intelligent properties include antiviral and antibacterial characteristics, water-repellence and UV protection, among others.
Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies' intimate apparel products and accessories.
FORWARD LOOKING STATEMENTS
Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward looking statements. The use of any words such as "anticipate", "continue", "plans", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the extent and impact of health pandemic outbreaks on our business; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company's future operations; competition; changes in legislation affecting the Company; the ability to obtain and maintain required permits and approvals, the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals.
A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's annual information form dated April 1, 2024 and other filings with the Canadian securities regulators available under the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Any financial outlook or future oriented financial information in this news release, as defined by applicable securities legislation, has been approved by management of iFabric. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.
FOR FURTHER INFORMATION please contact:
Hylton Karon, President and CEO
Tel: 905.752.0566 ext 201
Email: hyltonk@ifabriccorp.com
Hilton Price, CFO
Tel: 647.465.6161
Email: hilton.price@rogers.com
Website: www.ifabriccorp.com
Neither the TSX Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: iFabric Corp
View the original press release on ACCESS Newswire
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