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  • Savaria - Savaria revenue up by 9% compared to Second Quarter 2011
    of 2011 In the second quarter of 2012 the Corporation reported revenue of 17 5 M compared to 16 M in 2011 an increase of 1 5 M or 9 1 For the first semester of 2012 revenue is up 1 2 M or 3 7 from 31 5 M to 32 7 M Gross margin for the second quarter of 2012 is up by 719 000 and represents 27 of revenue compared to 25 in 2011 For the first semester of 2012 gross margin is up by 440 000 and accounts for 27 4 of revenue versus 27 in 2011 Operating income for the second quarter of 2012 is up by 774 000 or 245 from 316 000 in 2011 to 1 1 M in 2012 For the first semester of 2012 the increase amounts to 745 000 or 71 from 1 1 M to 1 8 M Net income for the second quarter is up by 394 from 140 000 in 2011 to 691 000 in 2012 an increase of 551 000 For the first semester net income is up 232 from 317 000 to 1 1 M an increase of 734 000 EBITDA for the second quarter is up 813 000 from 788 000 in 2011 to 1 6 M in 2012 an increase of 103 For the first semester EBITDA is up 1 M from 1 6 M in 2011 to 2 6 M in 2012 an increase of 64 1 Savaria Corporation savaria com is North America s leader in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for home and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and offers scooters and motorized wheelchairs The diversity of its product line one of the world s most comprehensive enables the Corporation to stand out by proposing an integrated and customized solution for its customers mobility needs Its operations in China have substantially grown since 2006 and the collaboration with Savaria s other Canadian facilities increases its competitive edge in the market place The Corporation records slightly over 50 of its sales outside Canada primarily in the United States It has a sales network of some 600 retailers in North America and employs close to 400 people at its head office in Laval and at its plants in Montreal Quebec Brampton and London Ontario Calgary Alberta and Huizhou China Compliance with International Financial Reporting Standards IFRS The information appearing in this press release has been prepared in accordance with IFRS However the Corporation uses EBITDA for analysis purposes to measure its financial performance This measure has no standardized definition in accordance with IFRS and is therefore regarded as a non IFRS measure This measure may therefore not be comparable to similar measures reported by other companies Reconciliation between net income for the period and EBITDA is provided in the Financial

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=Q2results2012 (2016-02-16)
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  • Savaria - Savaria Announces Results for the First Quarter of 2012
    in Brampton Ontario This transaction will allow substantial annual savings We are confident that our presence in North America and China will benefit our shareholders given the nature of our industry which is to bring solutions to people with mobility challenges concluded Mr Bourassa Operating Results Comparative Analysis with First Quarter 2011 For first quarter 2012 the corporation achieved revenue of 15 2 M compared with 15 5 M in 2011 down by 1 8 or 282 000 Gross margin is down by 279 000 for the first quarter and represents 27 8 of revenue compared with 29 1 in 2011 Operating income is slightly down by 3 9 or 29 000 from 735 000 in 2011 to 706 000 in 2012 Net income for first quarter is up by 103 from 177 000 in 2011 to 360 000 in 2012 an increase of 183 000 Savaria Corporation savaria com is Canada s leader and the second largest North American company in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for residential and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and also offers scooters and motorized wheelchairs The diversity of its product line one of the world s most comprehensive enables the Corporation to stand out by proposing an integrated and customized solution for its customers mobility needs Its operations in China have substantially grown since 2006 and the collaboration with Savaria s other Canadian facilities increases its competitive edge on the market The Corporation records slightly over 50 of its sales outside Canada primarily in the United States It has a sales network of some 600 retailers in North America and employs 400 people at its head office in Laval and at its plants in Montreal Quebec Brampton and London Ontario Calgary Alberta and Huizhou China Compliance with IFRS The information appearing in this press release has been prepared in accordance with IFRS However the Corporation uses EBITDA for analysis purposes to measure its financial performance This measure has no standardized definition in accordance with IFRS and is therefore regarded as a non IFRS measure This measure may therefore not be comparable to similar measures reported by other companies A reconciliation between net income for the period and EBITDA is provided in the Financial Highlights section below Cautionary Notice Regarding Forward Looking Statements Certain information in this press release may constitute forward looking statement regarding Savaria including without being limited thereto understanding of the elements that might affect the Corporation s future relating to its financial or operating performance the costs and schedule of future acquisitions supplementary capital expenditure requirements and legislative matters Most frequently but not invariably forward looking statements are identified by the use of such terms as plan expect should could budget expected estimated forecast intend anticipate believe variants thereof including negative variants or statements that certain events results

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=Q1results2012 (2016-02-16)
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  • Savaria - Savaria continues to progress and declares a dividend of 9.4 cents per share
    2011 a decrease of 5 8 or 1 M from 17 4 M for 2010 Revenue for fiscal 2011 was stable at 65 3 M The unfavourable change in the U S dollar in relation to the Canadian dollar represented 1 2 M The contribution of the subsidiaries acquired in 2010 totalled 3 8 M amounting to 884 000 for the Accessibility segment and 2 9 M for the Adapted Vehicles segment The gross margin for the fourth quarter of 2011 decreased by 192 000 and represented 28 of revenue compared with 27 5 in 2010 For fiscal 2011 the gross margin was stable at 18 2 M or 27 9 as a percentage of revenue Operating income for the fourth quarter of 2011 posted a slight decline of 4 5 or 49 000 slipping from 1 1 M in 2010 to 1 M in 2011 Changes in presentation subsequent to the implementation of International Financial Reporting Standards IFRS had a negative impact of 111 000 on 2010 operating income Operating income for fiscal 2011 was down by 999 000 or 22 7 The increase in operating costs stood at 586 000 whereas the impact of the subsidiaries acquired in 2010 on such costs came to 655 000 Net income for the fourth quarter was down 18 4 from 488 000 in 2010 to 398 000 in 2011 a decrease of 90 000 For fiscal 2011 net income was down by 567 000 from 2 6 M in 2010 to 2 M in 2011 Dividend The Corporation s Board of Directors has declared a dividend of 9 4 cents 0 094 per common share payable on April 24 2012 to shareholders of record of the Corporation at the close of business on April 10 2012 This is an eligible dividend within the meaning of the Income Tax Act Transition to IFRS Due to their coming into effect on January 1 2011 the Corporation has started to present its financial results for fiscal 2011 as well as corresponding figures for 2010 in accordance with IFRS For further information in this regard the reader is referred to Note 31 Explanation of Transition to IFRS of the consolidated financial statements as at December 31 2011 Savaria Corporation savaria com is Canada s leader and the second largest North American company in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for home and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and also offers scooters and motorized wheelchairs The diversity of its product line one of the world s most comprehensive enables the Corporation to stand out by proposing an integrated and customized solution for its customers mobility needs Its operations in China have substantially grown since 2006 and the collaboration with Savaria s other Canadian facilities increases its competitive edge in the market place The Corporation records

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=dividendshare (2016-02-16)
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  • Savaria - Savaria Corporation launches a normal course issuer bid
    least 5 000 shares having a purchase price of at least 50 000 or iii of at least 20 board lots of shares which total 150 or more of the ADTV The normal course issuer bid will begin on December 12 2011 and will run until the earlier of the date on which purchases under the bid have been completed and December 11 2012 These purchases are to be made through the facilities of the TSX in accordance with its requirements on normal course issuer bids The price which Savaria will pay for any common shares will be the market price at the time of acquisition plus brokerage fees Savaria has purchased 265 200 of its common shares at a weighted average price of 1 53 within the last twelve months pursuant to a normal course issuer bid which began on December 3 2010 and terminated on December 2 2011 Savaria believes that the purchase of its shares may makes appropriate use of its available cash and therefore that the issuer bid is in the best interests of Savaria and its shareholders Savaria Corporation savaria com is Canada s leader and the second largest North American company in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for home and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and also offers scooters and motorized wheelchairs The diversity of its product line one of the world s most comprehensive enables the Corporation to stand out by proposing an integrated and customized solution for its customers mobility needs Its operations in China have substantially grown since 2006 and the collaboration with Savaria s other Canadian facilities increases

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=issuerbid (2016-02-16)
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  • Savaria - Dalton McGuinty visits Savaria
    our manufacturing plant the Premier talked about the new healthy home renovation tax credit program We were also pleased to welcome Linda Jeffrey MPP Brampton Springdale who accompanied the Premier on the tour Offering up to 1500 on the first 10 000 of home renovations for seniors living in Ontario the new program promises to help seniors stay in their homes longer avoiding the move to healthcare facilities sooner than needed Since many aging adults suffer from mobility issues such as knee and hip problems adding a stairlift or a platform lift can be the best way to remain at home the place most people would prefer Mr McGuinty toured the Savaria showroom and manufacturing plant and shook hands with many of our employees as he went It was a great opportunity for Savaria staff to feel proud about the kind of products we make More details on the following media coverage CTV News Video minute 18 42 The Toronto Star Brampton Guardian related information News Archives recent news Savaria Declares its Quarterly Dividend 2016 02 05 Savaria discloses its preliminary Q4 2015 results 2016 01 19 Savaria Forecast 2016 Results To Be A Record Year 2015 12 01 Savaria

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=mcguinty (2016-02-16)
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  • Savaria - Savaria Announces Results for the Third Quarter of 2011
    M for the Adapted Vehicles segment The gross margin for the third quarter of 2011 increased by 162 000 and represented 29 5 of revenue compared with 28 1 in 2010 For the first nine months of 2011 the gross margin increased by 213 000 but decreased slightly as a percentage of revenue from 28 1 to 27 9 Operating income for the third quarter of 2011 posted a slight decline of 6 or 82 000 slipping from 1 4 M in 2010 to 1 3 M in 2011 Changes in presentation subsequent to the implementation of International Financial Reporting Standards IFRS had a positive impact of 240 000 on 2010 operating income For the first nine months operating income was down by 950 000 or 28 7 Changes in presentation subsequent to the implementation of IFRS accounted for 121 000 of this unfavourable variance Operating costs increased by 735 000 whereas the expenses of the subsidiaries acquired in 2010 amounted to 1 2 M Third quarter net income rose 68 from 767 000 in 2010 to 1 3 M in 2011 This 519 000 increase includes a favourable change in the gain on foreign exchange of 620 000 and the fair value of restructured notes and the put option of 173 000 For the first nine months net income for the period decreased by 477 000 slipping from 2 1 M in 2010 to 1 6 M in 2011 Transition to IFRS Due to their coming into effect on January 1 2011 the Corporation has started to present its financial results for fiscal 2011 as well as corresponding figures for 2010 in accordance with IFRS For further information in this regard the reader is referred to Section 12 Significant Accounting Policies and Estimates of the management s report for the first quarter of 2011 Savaria Corporation savaria com is Canada s leader and the second largest North American company in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for home and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and also offers scooters and motorized wheelchairs The diversity of its product line one of the world s most comprehensive enables the Corporation to stand out by proposing an integrated and customized solution for its customers mobility needs Its operations in China have substantially grown since 2006 and the collaboration with Savaria s other Canadian facilities increases its competitive edge in the market place The Corporation records slightly over 50 of its sales outside Canada primarily in the United States It has a sales network of some 600 retailers in North America and employs 400 people at its head office in Laval and at its plants in Ville Saint Laurent Quebec Brampton and London Ontario Calgary Alberta and Huizhou China Compliance with IFRS The information appearing in this press release has been prepared in

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=Q3results2011 (2016-02-16)
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  • Savaria - Savaria Announces Results for the Second Quarter of 2011
    000 and represented 25 of revenue compared with 28 8 in 2010 The unfavourable effect of the change in exchange rates combined with an unfavourable fixed cost absorption level as a result of an unusually low volume of revenue had a negative impact on the gross margin For the first half of 2011 the gross margin increased by 51 000 but decreased as a percentage of sales from 28 to 27 of revenue Operating income for the second quarter of 2011 decreased by 78 or 1 1 million from 1 4 million in 2010 to 316 000 in 2011 The 247 000 increase in operating expenses is due primarily to the addition of the expenses of the subsidiaries acquired in 2010 which expenses amounted to 506 000 For the first half operating income declined by 868 000 or 45 The increase in operating expenses came to 893 000 whereas the expenses of the subsidiaries acquired in 2010 represented 1 1 million Second quarter net income for the period decreased from 1 3 million in 2010 to 140 000 in 2011 This 1 1 million decline includes a 288 000 unfavourable change in gain on foreign exchange and a 110 000 increase in finance costs resulting from the contracting of new long term debt For the first half net income for the period was reduced by 1 million from 1 3 million in 2010 to 317 000 in 2011 Transition to International Financial Reporting Standards IFRS Due to their coming into effect on January 1 2011 the Corporation has started to present its financial results for fiscal 2011 as well as corresponding figures for 2010 in accordance with IFRS For further information in this regard the reader is referred to Section 12 Significant Accounting Policies and Estimates of the management s report for the first quarter of 2011 Savaria Corporation savaria com is Canada s leader and the second largest North American company in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for home and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and also offers scooters and motorized wheelchairs The diversity of its product line one of the world s most comprehensive enables the Corporation to stand out by proposing an integrated and customized solution for its customers mobility needs Its operations in China have substantially grown since 2006 and the collaboration with Savaria s other Canadian facilities increases its competitive edge in the market place The Corporation records slightly over 50 of its sales outside Canada primarily in the United States It has a sales network of some 600 retailers in North America and employs 400 people at its head office in Laval and at its plants in Ville Saint Laurent Quebec Brampton and London Ontario Calgary Alberta and Huizhou China Compliance with IFRS The information appearing in this press release has been

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=Q2results2011 (2016-02-16)
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  • Savaria - Savaria Announces Results for the First Quarter of 2011
    in Brampton combined with the integration of their operations with those of our subsidiary Van Action will enable us to take advantage of new synergies and to lower operating costs indicated Marcel Bourassa President and Chief Executive Officer of Savaria Our solid balance sheet represents a strong fundamental that allows us to execute our growth projects and increase our profitability Furthermore it enabled us to remunerate our shareholders by paying a dividend of 10 2 cents last April 26th concluded Mr Bourassa Operating Results Comparative Analysis for the First Quarter of 2010 The Corporation achieved revenue of 15 5 million in the first quarter of 2011 compared with 13 2 million in 2010 an increase of 17 1 or 2 3 million The contribution of the subsidiaries acquired in 2010 totalled 1 8 million of which 0 6 million for the Accessibility segment and 1 2 million for the Adapted Vehicles segment Gross margin increased by 921 000 and represented 29 1 of revenue compared with 27 1 in 2010 Tight control of expenses and personnel as well as the sustained increase in purchases from China led to a reduction in costs and an improvement in productivity Operating income grew by 51 2 or 249 000 from 486 000 in 2010 to 735 000 in 2011 The 646 000 increase in operating expenses is due mainly to the addition of the expenses of the subsidiaries acquired in 2010 Net income for the period rose from 59 000 in 2010 to 177 000 in 2011 an increase of 118 000 It includes a 63 000 increase in the exchange loss and a 53 000 increase in interest expense as a result of the acquisition of a new long term debt Share Capital During the first quarter of 2011 Savaria issued 1 000 000 shares in connection with the acquisition of its subsidiary Concord London in January 2010 and 132 500 shares subsequent to the exercise of share purchase options It also repurchased 138 100 shares for cancellation as part of its normal course issuer bid in progress The number of common shares outstanding therefore totalled 23 011 964 as at March 31 2011 compared with 22 017 564 as at December 31 2010 Transition to International Financial Reporting Standards IFRS Effective January 1 2011 the Corporation started to present its financial results for fiscal 2011 and the corresponding figures for 2010 in accordance with IFRS For further information in this regard the reader is referred to Section 12 Significant Accounting Policies and Estimates of the management s report for the first quarter of 2011 Savaria Corporation savaria com is Canada s leader and the second largest North American company in the accessibility industry focused on meeting the needs of people with mobility challenges Savaria designs manufactures and distributes primarily elevators for residential and commercial use as well as stairlifts and vertical and inclined platform lifts In addition it converts and adapts wheelchair accessible automotive vehicles and also offers scooters and motorized

    Original URL path: https://www.savaria.com/Investors/news?path=/Investors/news&node=Q1results2011 (2016-02-16)
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