Opta Unit Impacted by Economy, Competition

Opta Minerals Inc of Waterdown, ON has reported a net loss of US$1.9 million on revenue of US$139.9 million for 2014 compared with a net loss of US$181,000 on revenue of US$141.4 million 2013. The improvement in revenue reflected a 10% increase in its Steel and Magnesium business that more than offset a 13% decrease in revenues in its Industrial Minerals business. Opta’s Steel and Magnesium segment had 2014 revenue of US$81.5 million, up from US$74.1 million in 2013. The company’’s Industrial Minerals segment generated sales of US$58.4 million in 2014, down from US$67.4 million in 2013. In the fourth quarter, Opta reported a net loss of US$2.87 million on revenue of US$34.2 million compared with a net income of US$971,000 on revenue of US$32.8 million in the same period of 2013.

Volume 29 issue 5

Leave a Reply