Opta Minerals Inc of Waterdown, ON has reported fourth quarter net earnings of US$991,000 on revenue of US$34.1 million up from US$564,000 on revenue of US$22.6 million in the fourth quarter of 2011. For the full year, Opta had net earnings of US$14.7 million on revenue of US$126.7 million in 2012 compared with US$11.5 million on US$93.1 million in 2011. The company benefited from the acquisition of Babco Industrial Corp early last year and WGI Heavy Minerals Inc last summer. Opta increased fourth quarter revenue in its Mill and Foundry Products and Services segment by 28% thanks to increased demand for lime blends, metallic magnesium and the acquisition of Babco which added petroleum coke to its product line. Fourth quarter revenue in Optas Abrasive Products Manufacturing and Distribution segment increased 87.5% due to an increase in demand for metallurgical slags and the acquisition of WGI. For all of 2012, the revenue increases for the segments were 33.7% and 39.8%, respectively.
Volume 27 issue 5