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Company News

BRIEF-ZCL Composites Reports Q1 EPS C$0.02

May 3 (Reuters) - ZCL Composites Inc:

* ZCL COMPOSITES REPORTS Q1 2018 FINANCIAL RESULTS & SPECIAL DIVIDEND

* Q1 EARNINGS PER SHARE C$0.02

* Q1 REVENUE C$31.9 MILLION VERSUS C$31.7 MILLION

* QTRLY BACKLOG WAS $44.9 MILLION AS AT MARCH 31, 2018, DOWN $5.9 MILLION OR 12%, FROM $50.8 MILLION A YEAR EARLIER

* SPECIAL DIVIDEND OF $0.40 PER SHARE TO BE PAID ON JUNE 15, 2018 TO SHAREHOLDERS OF RECORD ON MAY 31, 2018

* PROVIDING AN UPDATE ON A RECENTLY COMPLETED CONFIDENTIAL REVIEW OF VARIOUS VALUE MAXIMIZING STRATEGIES FOR COMPANY

* ALTHOUGH CEO SUCCESSION PROCESS IS PROGRESSING WELL, IT HAS BEEN DELAYED BY STRATEGIC OPTIONS REVIEW

* EXPECT IMPROVED RESULTS IN Q2 COMPARED WITH Q1 OF 2018

* FOR THE FULL YEAR OF 2018 EXPECT REVENUE TO INCREASE FROM THE MODEST GROWTH LEVELS ACHIEVED IN 2017

* TO ENSURE A SMOOTH TRANSITION, CURRENT PRESIDENT AND CEO, RON BACHMEIER WILL REMAIN IN ROLE UNTIL JUNE 30, 2018 Source text for Eikon: Further company coverage:

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