Discussions

Came across this press release this morning that may clarify some of the questions folks may have relating to Inventronics.  
 
The company released it's third quarter results yesterday. While there is bad news (a $1,000,000 drop in revenue compared to last year), there is also news that leaves plenty of room for optimism (have secured a new agreement that should replace some of the work that's been lost).  
 
Here's the full release:  
 
---------------------  
 
CALGARY, Nov. 24 /CNW/ - Inventronics Limited (IVX:TSX Venture), a designer and manufacturer of custom enclosures for the telecommunications, electric transmission, cable and other industries in North America, today announced its 2008 third quarter financial results.  
 
Inventronics reported sales of $4,133,000 for the third quarter of 2008, compared to third quarter sales of $5,155,000 in 2007.  
 
The net loss for the quarter ended September 30, 2008 was $235,000 or 5 cents per share, compared to a loss of $327,000 or 7 cents per share for the same quarter in 2007.  
 
Included in the net loss was $143,000 of severance costs incurred in the reorganization of operations done in response to the loss of future revenue.  
 
The revenue decrease is the result of the Corporation's largest customer not extending a supply agreement which expired on October 15, 2008. The Corporation has reached an agreement with this US based multinational customer's Canadian subsidiary to continue to supply that customer in Canada.  
 
The Corporation will continue to do a small amount of business with that customer's operations in the United States. This lost business represents more than one half of the Corporation's sales in the last year.  
 
http://www.newswire.ca/en/releases/archive/November2008/24/c3753.html  
 
---------------------  
 
If/how much this effects the 72% staff layoff that the link below mentions is unclear:  
http://www.oilweek.com/news.asp?ID=19555