Beryllium Copper Alloys by IBC Advanced Alloys

 

IBC Advanced Alloys Reports Second Quarter 2010 Financial Results

Published Tuesday, March 2, 2010

VANCOUVER, BC - March 2, 2010 - IBC Advanced Alloys Corp. (TSX.V:IB) ("IBC" or the "Company") today reported its financial results for the three- and six-month periods ending December 31, 2009. All currency amounts are expressed in US dollars. For the three-month period ended December 31, 2009 the Company reported revenues of $3.74 million, up 45% from first fiscal quarter sales. The net loss for the period was $479,000, down 40% from the first quarter loss. Operating income plus depreciation and amortization ("EBITDA") for the quarter was $83,000 compared to a loss of $360,000 in the first fiscal quarter.

The increase in revenues and improved financial performance demonstrate a strong recovery in demand for the Company's specialty beryllium and advanced alloy products as well as a convincing return to profitability for both the Company's Freedom and Nonferrous divisions. The Company is also benefiting from the reorganization of its manufacturing operations over the last year as it improves manufacturing practices and realizes cost savings from centralizing its manufacturing administrative functions.

With the completed acquisitions and successful integration of Freedom Alloys, Inc., Nonferrous Products, Inc. and Specialloy Copper Alloys, LLC the Company has completed the first step in building a solid manufacturing and distribution platform as a part of its global strategy of becoming a vertically integrated beryllium and advanced alloys supplier. This platform will allow IBC to take advantage of additional acquisition possibilities as well as evaluate complementary rare metal and advanced materials opportunities, both in North America and overseas.

"I am very pleased with the pace of the economic recovery and positive outlook in our business, particularly in our bulk products division. We have emerged from the economic downturn a stronger and more focused company and are well positioned to take advantage of the many opportunities being presented to us." said Anthony Dutton, President & CEO of IBC Advanced Alloys Corp. "IBC's manufacturing operations have seen improved margins as a result of our integration initiatives," continued Anthony Dutton, "and with a steadily improving order book and a stronger market presence we are confident of continuing stronger financial and operational performance."

About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 60 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB".

For additional information please contact:

IBC Advanced Alloys Corp.

Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: itootill@eragonlatrilogia.com
Website: www.eragonlatrilogia.com