Mattr Q3 Profit Rises

(RTTNews) - Mattr Corp. (MATR.TO), a global materials technology company serving critical infrastructure markets, reported sharply higher third-quarter earnings and record revenue, driven by strong demand across its Connection Technologies and Composite Technologies segments.

Net income from continuing operations rose to C$14.7 million, or C$0.24 per share, from C$3.2 million, or C$0.05 per share, a year earlier. Revenue from continuing operations increased 34.4% to C$423.4 million from C$314.9 million.

Operating income from continuing operations nearly doubled to C$34.5 million from C$17.3 million. Adjusted EBITDA from continuing operations, a non-GAAP measure, surged 101.7% to C$68.6 million from C$34.0 million.

Connection Technologies revenue grew 28.6% to C$236.9 million, while adjusted EBITDA climbed 86.9% to C$36.4 million. Composite Technologies revenue advanced 42.6% to C$186.5 million, with adjusted EBITDA jumping 110% to C$41.6 million.