IBC expects that it will begin production and sales of several new products in 2018/2019, including one that is expected to launch in commercial sales in the next quarter.
Sales increased 36% in the quarter as compared to the quarter ended September 30, 2016, with Engineering Materials division sales expanding by 142%. Both operating divisions swung to positive gross margins from negative gross margins in the year-ago period.
IBC Advanced Alloys Corp. announces its fiscal third quarter 2017 results. Company reported higher sales as compared to the quarter ended December 31, 2016, and booked the highest revenue in the past four quarters. It completed the installation of new production furnaces in both operating divisions, a key component of its year-long capital improvements program, and is now ramping up production to clear existing order backlogs and produce for new orders it is receiving. The Company also narrowed its per-share losses in the quarter on both a sequential and year-on-year basis.