The following is a summary of the IBC Advanced Alloys Corp. (IAALF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• IBC Advanced Alloys reported a net income of $1.36 million or about $0.01 per share on sales of $10.2 million for the quarter ended March 31, 2024.

• The company achieved record sales of $34.3 million for the quarter and $27 million for the fiscal year-to-date.

• Both divisions, Copper Alloys and Engineered Materials, reported significant sales growth with the latter increasing by 97.5% quarter-over-quarter.

• Adjusted EBITDA for the quarter was $2.5 million, showing a impressive growth by 325% year-over-year. Meanwhile, the company's consolidated operating income also turned positive year-over-year at $3.2 million.

Business Progress:

• The company reported near-record sales in the Copper Alloys division, primarily fueled by the higher demand from the defence and power generation sectors.

• They closed their Wilmington plant, expecting to increase free cash flow and improve gross margins. The closure costs are estimated at around $1.7 million, which will likely be minimized by selling off specialized equipment.

• IBC has started discussions for transferring employees to their Franklin, Indiana facility, demonstrating their intent to retain the beryllium-aluminum skill sets.

• The company aims to increase profitability by improving yield and minimizing subcontracting, which along with debt reduction could create value and stimulate growth opportunities in the long run.

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