ExelTech Aerospace Inc. (XLT.V) reported a second quarter net loss of C$253 thousand or breakeven per share, compared to a loss of C$16.70 million or C$0.11 per share in the same period last year.
Revenue for the quarter increased 36.5% to C$12.25 million from C$8.98 million in the previous year period.
Although the process is not what the company expected, the financing opportunities previously announced with Banque de développement du Canada and the Société générale de financement du Québec are still alive but are requiring more time to be completed. The company is working diligently to comply with additional conditions in the due diligence process. No definitive agreements have been reached yet and there can be no assurance that such agreements will be reached. The company also continues to work on other financing alternatives.
In parallel to this, as the maturity date of the debentures is currently scheduled for November 30, 2009 and the company does not expect its financing activities to be completed by then, ExelTech will therefore not be in a position to retire the debentures and has initiated discussion with the debenture holders in order to determine a suitable solution.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.