MIN-AD Granular Product Well-Received

Inter-Rock Minerals Inc of Toronto, ON has announced a 2013 net loss of US$309,000 on revenue of US$10.7 million compared with a net loss of US$964,000 on revenue of US$11.1 million in 2012. The company reports that wholly-owned Mill Creek Dolomite LLC of Mill Creek, OK increased its net income slightly, to US$170,000, on net product revenue 6% lower at US$4.1 million. Total sales volume for the full year was 3% lower than in 2012. The decline in sales reflects the loss of a roofing customer that accounted for about 5% of sales, partially offset by strong sales to the oil and gas drilling sector. Inter-Rock’s other operating arm, MIN-AD Inc, reported a net income of US$50,000 versus a loss of US$240,000 in 2012. Gross product revenue was steady at US$6.6 million. The highlight of the year was the continued good reception of its granular product and exceptionally strong sales growth in the Midwest and Northeast. Granular product sales increased 18% from 2012, Midwest sales volume increased 19%, and Northeast sales increased 35%. Feed sales volume for 2013 was 6% lower than in 2012. All of the feed decrease was in the Southern Plains; sales volumes increased in every other region. Total sales volume, including filler and construction sales, increased by 17%.

Volume 28 issue 11

Leave a Reply