WATERDOWN, ONTARIO--(Marketwired - Nov. 11, 2015) - Opta Minerals Inc. (TSX:OPM), today announced results for the three and nine months ended September 30, 2015. All figures are reported in U.S. dollars and are in accordance with International Financial Reporting Standards (IFRS), except where otherwise noted.

	3 months		3 months						9 months			9 months
	ended		ended						ended			ended
	Sept 30,		Sept 30,		Increase				Sept 30,			Sept 30,		Increase
	2015		2014		(Decrease)			%	2015			2014		(Decrease)			%
Revenue	$	28,784	$	35,879	$	(7,095	)	-19.8%	$	87,915		$	105,667	$	(17,752	)	-16.8%
Gross Profit		4,269		5,275		(1,006	)	-19.1%		11,730			16,683		(4,953	)	-29.7%
		14.8%		14.7%		0.1%				13.3%			15.8%		-2.5%
EBITDA1		3,205		2,242		963		43.0%		4,606			7,663		(3,057	)	-39.9%
EBIT2		1,815		432		1,383		320.1%		356			2,763		(2,407	)	-87.1%
Income (Loss)		686		519		167		32.2%		(4,342	)		992		(5,334	)	-537.7%
EPS	$	0.04	$	0.03	$	0.01			$	(0.24	)	$	0.05	$	(0.29	)

1 EBITDA is a non-IFRS measure: refer to Footnotes

2 EBIT is a non-IFRS measure; refer to Footnotes

Bernhard Rumbold, Interim President and CEO of Opta Minerals, noted, "The Company continues with restructuring the business and we have seen improvements from our efforts. We are continuing to work at closing unprofitable locations, reducing costs, simplifying operations and improving the balance sheet by reducing inventory thereby improving liquidity. We are striving to have our restructuring work substantially complete by the end of the year.

Markets remain soft but slightly better than the first half of the year. We will continue to invest in people and capital within Steel and Magnesium and within segments of Industrial Minerals, such as garnet, where we believe we have a competitive advantage and can earn superior returns.

We continue to pursue strategic alternatives for the Company. We will be holding off on the recruitment of a permanent CEO until this matter is closed."

Operational and Financial Highlights:

• On a consolidated basis revenues for the quarter have fallen 19.8% from $35.9 million to $28.8 million. On a year to date basis revenues have fallen 16.8% from $105.7 million to $87.9 million. Excluding the effects of exchange rate movements in the Canadian dollar and Euro against the U.S. dollar, revenues have fallen in the quarter and year to date 8.4% and 7.4%, respectively. The balance of the shortfall is primarily due to lower volumes sold to existing customers due to a general market slowdown in the steel industry and in other markets we serve. Excluding the current quarter foreign exchange gain and the comparative prior year quarter foreign exchange loss, adjusted EBIT would be similar.
• Third quarter revenue in the Steel and Magnesium segment decreased 15.5% from the comparable quarter in 2014. On a year to date basis revenues have decreased 11.3% over the comparable period in 2014. Excluding the effects of exchange rate movements, revenues have fallen 9.2% and 6.9% versus the previous quarter and year to date, respectively. The Steel and Magnesium segment continues to be impacted by a slow down in the steel industry affecting our throughput to customers.
• The Industrial Minerals segment revenue decreased approximately 26.2% in the quarter and 24.2% year to date. The decline is partially due to restructuring as we eliminate locations and product lines that do not provide an adequate return and partially due to the exchange rate movements noted earlier. The Company remains focused on its restructuring efforts along with focused growth in key areas of the business such as garnet.
• Gross profit includes charges of approximately $422 in the quarter and $1.2 million year to date for inventory reserves and expected remediation costs related to the closure of facilities and the liquidation of certain inventories. Excluding these costs, gross margins are 16.3% for the quarter and 14.7% for the year to date, respectively. Margins have also been impacted by lower sales prices to liquidate inventory and lower volumes affecting plant utilization.
• Selling, general and administrative expenses (SGA) were $3,308 or 11.5% as a percent of revenues, compared to $4,132 or 11.5% of revenues in the prior year quarter. On a year to date basis SGA is $11,454 or 13.0% of revenues compared to $12,738 or 12.1% for the comparable period in 2014. Year to date SGA includes severance and other costs related to restructuring as well as other one time items totaling approximately $1.1 million. Excluding these items, SGA is 11.7% for the year. SGA is impacted by the strengthening US dollar with corporate costs primarily in Canadian dollars and cost reductions which have occurred during the year. The Company is targeting 10% SGA as a percent of revenues.
• Results include non-cash foreign exchange gains of $991 in the current quarter compared to foreign exchange losses of $416 in the prior year comparative quarter. Foreign exchange gains were $526 on a year to date basis as compared to $781 in losses in the previous year. These were driven by fluctuations in the US dollar against both the Canadian dollar and Euro.
• Working capital, excluding the reclassification of long-term borrowings of $23.5 million, at September 30, 2015 amounted to $17.8 million and total assets were $97.2 million, as compared to $21.8 million and $117.7 million, respectively, at December 31, 2014. Working capital is considerably lower than December 31, 2014 driven by the Company's efforts to significantly lower inventories.
• Long-term borrowings of $23.5 million have been reclassified to current borrowings as a result of the default of certain financial covenants stipulated under the Company's credit agreement. Subsequent to September 30, 2015, the Company obtained a waiver in respect of the covenant default from the syndicate of banks. As consideration for the waiver the Company is to comply with certain additional financial covenants. The syndicate of banks again extended the maturity date of the revolving credit facility from October 2, 2015 to November 30, 2015.
• The Company will require the continued support from its current financial lenders and, effective December 1, 2015, Opta Minerals will require a further extension of its revolving term credit facility and an additional waiver of financial covenants, if breached, or an alternative source of financing. Failure to meet financial covenants or repay the revolving credit facility on maturity would constitute an event of default under the credit agreement, unless the lenders agree to a waiver or further amendment. The Company believes that it will comply with the additional financial covenants and that an extension is likely, but there can be no assurance that it will be provided or that alternative sources of financing on terms favourable to the Company could be obtained. The limited extension of the revolving term credit facility to November 30, 2015 has required the inclusion of additional disclosure in the Company's interim condensed consolidated financial statements as at and for the three and nine-month periods ended September 30, 2015.
• The debt to equity ratio at September 30, 2015 was 0.89 to 1.00, and at December 31, 2014 was 1.00 to 1.00.

For further details, please refer to the Company's interim condensed consolidated financial statements and related Management's Discussion and Analysis.

Opta Minerals is a vertically integrated provider of custom process solutions and industrial mineral products used primarily in the steel, foundry, loose abrasive cleaning, water-jet cutting and municipal water filtration industries. The Company has production and / or distribution facilities in Ontario, Quebec, Saskatchewan, Louisiana, South Carolina, Virginia, Maryland, Indiana, Michigan, New York, Texas, Florida, Ohio, Idaho, France, Slovakia and Germany.

FOOTNOTES:

Earnings before income taxes and interest ("EBIT"); and earnings before interest, income taxes, depreciation and amortization ("EBITDA") as defined below, are both non-IFRS earnings measures that do not have standardized measures prescribed by IFRS, and therefore may not be comparable to similar measures presented by other publicly traded companies.

	For the three			For the nine
	Months Ended			Months Ended
	Sept 30			Sept 30
	2015	2014		2015		2014
	$	$		$		$
Income (Loss) for the Period	686	519		(4,342	)	992
Finance Expense	873	1,035		3,565		2,783
Income Tax Expense (Recovery)	256	(1,122	)	1,133		(1,012	)
Depreciation and Amortization	1,253	1,515		3,804		4,499
Property, Plant and Equipment Write-down	-	180		495		180
Fair Value Adjustments to Contingent Consideration	137	115		(49	)	221
EBITDA1	3,205	2,242		4,606		7,663
Subtract:
Depreciation and Amortization	1,253	1,515		3,804		4,499
Property, Plant and Equipment Write-down	-	180		495		180
Fair Value Adjustments to Contingent Consideration	137	115		(49	)	221
EBIT2	1,815	432		356		2,763

Notes

1 The term "EBITDA" refers to earnings before deducting finance expense, income taxes, depreciation and amortization. The Company believes that EBITDA is useful supplemental information as it provides an indication of the results generated by the Company's main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration non-cash asset depreciation and amortization. EBITDA is not a recognized measure under International Finance Reporting Standards (IFRS), and accordingly, investors are cautioned that EBITDA should not be construed as an alternative to net earnings or loss determined in accordance with IFRS as an indicator of the financial performance of the Company or as a measure of the Company's liquidity and cash flows. The Company's method of calculating EBITDA may differ from other issuers and accordingly, EBITDA may not be comparable to similar measures presented by other issuers.

2 The term "EBIT" refers to earnings before income taxes and finance expense. The Company believes that EBIT is useful supplemental information as it provides an indication of the results generated by the Company's main business activities prior to taking into consideration how those activities are financed or taxed. EBIT is a non-IFRS earnings measure that does not have standardized measures prescribed by IFRS, and therefore may not be comparable to similar measures presented by other publicly traded companies.

Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include, without limitation, statements relating to: the Company's restructuring activities and the anticipated benefits to be derived therefrom; the expected timing for the completion of the Company's restructuring activities; and proposed investments in people and capital within the Steel and Magnesium Group and certain segments of the Infrastructure Group. Wherever possible, words such as "may", 'would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavour", "seek", "predict", "potential" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Company. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation: the impact of general economic conditions; the impact of specific industry conditions; the inability of the Company to successfully integrate recently acquired businesses or to achieve the anticipated benefits from such acquisitions; the risk of unexpected costs or liabilities relating to acquisitions; currency fluctuations and exchange rate risks; risks associated with foreign operations; governmental and environmental regulation; competition from other industry participants; cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; mining risks; and the other risks identified in the Company's Annual Information Form and other public filings (copies of which may be obtained at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release and, other than as required by law, the Company does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Opta Minerals Inc.
Interim Condensed Consolidated Balance Sheets
As At September 30, 2015 and December 31, 2014
(Unaudited)
Expressed in Thousands of US Dollars (except per share amounts and number of shares)
			September 30, 2015			December 31, 2014
Assets
Current
	Cash and cash equivalents		$	1,626		$	2,170
	Trade receivables, other receivables and prepayments			18,153			20,236
	Inventories			25,432			34,486
	Income taxes receivable			907			996
				46,118			57,888
Property, Plant and Equipment				18,676			21,926
Intangible Assets				23,829			26,827
Goodwill				8,574			9,447
Deferred Income Tax Assets				-			1,645
			$	97,197		$	117,733
Liabilities
Current
	Trade and other payables		$	11,814		$	17,216
	Borrowings			38,072			17,492
	Derivative financial instruments			390			-
	Provisions			839			772
	Other liabilities			245			492
	Income taxes payable			456			136
				51,816			36,108
Borrowings				148			30,103
Derivative Financial Instruments				-			285
Provisions				572			447
Other Liabilities				21			242
Deferred Income Tax Liabilities				1,841			3,040
				54,398			70,225
Equity Attributable to the Shareholders of the Company
Capital Stock
	Authorized without limit as to number -
		Preference shares (without par value)
		Common shares
	Issued -
		18,129,566 common shares (December 31, 2014 - 18,125,164)		17,911			17,905
Contributed Surplus				4,839			4,696
Accumulated Other Comprehensive Loss				(2,007	)		(1,491	)
Retained Earnings				22,056			26,398
				42,799			47,508
			$	97,197		$	117,733

Opta Minerals Inc.

Interim Condensed Consolidated Statements of Income (Loss)

For the Three Months Ended September 30, 2015 and 2014

(Unaudited)

Expressed in Thousands of US Dollars (except per share amounts)

		September 30, 2015			September 30, 2014
Revenue		$	28,784		$	35,879
Cost of Goods Sold			24,515			30,604
Gross Profit			4,269			5,275
Expenses
	Selling, general and administrative		3,308			4,132
	Property, plant and equipment write-downs		-			180
	Fair value adjustments to contingent consideration		137			115
	Foreign exchange (gain) loss		(991	)		416
			2,454			4,843
IncomeBefore Finance Expense and Income Taxes			1,815			432
Finance expense			873			1,035
Income (Loss) Before Income Taxes			942			(603	)
Income tax expense (recovery)			256			(1,122	)
Incomefor the Period Attributable to the Shareholders of the Company		$	686		$	519
Earnings per share for the period - basic and diluted		$	0.04		$	0.03

Opta Minerals Inc.
Interim Condensed Consolidated Statements of (Loss) Income
For the Nine Months Ended September 30, 2015 and 2014
(Unaudited)
Expressed in Thousands of US Dollars (except per share amounts)
		September 30, 2015			September 30, 2014
Revenue		$	87,915		$	105,667
Cost of Goods Sold			76,185			88,984
Gross Profit			11,730			16,683
Expenses
	Selling, general and administrative		11,454			12,738
	Property, plant and equipment write-downs		495			180
	Fair value adjustments to contingent consideration		(49	)		221
	Foreign exchange (gain) loss		(526	)		781
			11,374			13,920
IncomeBefore Finance Expense and Income Taxes			356			2,763
Finance expense			3,565			2,783
Loss Before Income Taxes			(3,209	)		(20	)
Income tax expense (recovery)			1,133			(1,012	)
Income (Loss)for the Period Attributable to the Shareholders of the Company		$	(4,342	)	$	992
Earnings (Loss) per share for the period - basic and diluted		$	(0.24	)	$	0.05

Opta Minerals Inc.
Interim Condensed Consolidated Statements of Comprehensive Income (Loss)
For the Three Months Ended September 30, 2015 and 2014
(Unaudited)
Expressed in Thousands of US Dollars
		September 30, 2015		September 30, 2014
Income for the Period Attributable to the Shareholders of the Company		$	686	$	519
Other Comprehensive Income (Loss), net of income taxes
Items that may be reclassified subsequently to profit or loss
	Unrealized gain (loss) on translation of foreign operations		16		(607	)
	Unrealized gain on derivative financial instruments designated as cash flow hedges		4		46
	Ineffective portion of derivative financial instruments		44		-
	Other comprehensive income (loss), net of income taxes		64		(561	)
Comprehensive Income (Loss) Attributable to the Shareholders of the Company		$	750	$	(42	)

Opta Minerals Inc.
Interim Condensed Consolidated Statements of Comprehensive (Loss) Income
For the Nine Months Ended September 30, 2014 and 2013
(Unaudited)
Expressed in Thousands of US Dollars
		September 30, 2015		September 30, 2014
Income (Loss) for the Period Attributable to the Shareholders of the Company		$	(4,342)	$	992
Other Comprehensive (Loss) Income, net of income taxes
	Items that may be reclassified subsequently to profit or loss
	Unrealized loss on translation of foreign operations		(726)		(460)
	Unrealized (loss) gain on derivative financial instruments designated as cash flow hedges		(125)		12
	Ineffective portion of derivative financial instruments		335		-
	Other comprehensive loss, net of income taxes		(516)		(448)
Comprehensive (Loss) Income Attributable to the Shareholders of the Company		$	(4,858)	$	544

Opta Minerals Inc.
Interim Condensed Consolidated Statements of Changes in Equity
For the Nine Months Ended September 30, 2015 and 2014
(Unaudited)
Expressed in Thousands of US Dollars (except per share amounts and number of shares)
	Number of Shares - Capital Stock	Capital Stock		Contributed Surplus - Share- based Payments		AOCI* - Cash Flow Hedge		AOCI* - Foreign Currency Translation Reserve		Retained Earnings		Total Equity
At January 1, 2015	18,125,164	$	17,905	$	4,696	$	(210)	$	(1,281)	$	26,398	$	47,508
Comprehensive Loss
Loss for the period	-		-		-		-		-		(4,342)		(4,342)
Unrealized loss on translation of foreign operations	-		-		-		-		(726)		-		(726)
Unrealized loss on derivative financial instruments designated as cash flow hedges	-		-		-		(125)		-		-		(125)
Ineffective portion of derivative financial instruments	-		-		-		335		-		-		335
Total Comprehensive (Loss) Income	-		-		-		210		(726)		(4,342)		(4,858)
Transactions with Shareholders
Employee share purchase plan	4,402		6		-		-		-		-		6
Share-based payment expense	-		-		143		-		-		-		143
Total Transactions with Shareholders	4,402		6		143		-		-		-		149
At September 30, 2015	18,129,566	$	17,911	$	4,839	$	-	$	(2,007)	$	22,056	$	42,799
At January 1, 2014	18,111,247	$	17,882	$	4,358	$	(230)	$	(632)	$	28,280	$	49,658
Comprehensive Income (Loss)
Income for the period	-		-		-		-		-		992		992
Unrealized gain on translation of foreign operations	-		-		-		-		(460)		-		(460)
Unrealized loss on derivative financial instruments designated as cash flow hedges	-		-		-		12		-		-		12
Total Comprehensive Income (Loss)	-		-		-		12		(460)		992		544
Transactions with Shareholders
Employee share purchase plan	11,140		18		-		-		-		-		18
Share-based payment expense	-		-		280		-		-		-		280
Total Transactions with Shareholders	11,140		18		280		-		-		-		298
At September 30, 2014	18,122,387	$	17,900	$	4,638	$	(218)	$	(1,092)	$	29,272	$	50,500

*AOCI - Accumulated Other Comprehensive Income

Opta Minerals Inc.
Interim Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2015 and 2014
(Unaudited)
Expressed in Thousands of US Dollars (except per share amounts and number of shares)
				September 30, 2015			September 30, 2014
Cash Provided by (Used in) -
	Operating Activities
		Income (loss) for the period		$	(4,342	)	$	992
		Items not affecting cash:
			Depreciation of property, plant and equipment		2,299			2,827
			Amortization of intangible assets		1,505			1,672
			Property, plant and equipment write-down		495			180
			Share-based payment expense		143			280
			Loss (gain) on disposal of property, plant and equipment		(4	)		51
			Fair value adjustments to contingent consideration		(49	)		221
			Non-cash interest charges		920			-
			Deferred income taxes		553			(1,220	)
					1,520			5,003
		Changes in non-cash working capital
			Trade receivables, other receivables and prepayments		698			(7,631	)
			Inventories		7,383			7,112
			Trade and other payables		(4,554	)		1,445
			Provisions		225			140
			Income taxes receivable (payable)		443			(437	)
					5,715			5,632
	Financing Activities
		Proceeds from issuance of common shares - net of issuance costs			6			18
		Repayment of borrowings			(4,713	)		(3,379	)
		Repayment of finance lease liabilities			(267	)		(247	)
					(4,974	)		(3,608	)
	Investing Activities
		Additions to property, plant and equipment			(905	)		(1,804	)
		Proceeds on disposal of property, plant and equipment			115			25
		Additions to intangible assets			(42	)		(56	)
		Additional contingent consideration paid on acquisitions			(393	)		(260	)
					(1,225	)		(2,095	)
Effect of Foreign Exchange Loss on Cash and Cash Equivalents					(60	)		(106	)
Net Decrease in Cash and Cash Equivalents					(544	)		(177	)
Cash and Cash Equivalents
	Beginning of Period				2,170			4,084
	End of Period			$	1,626		$	3,907

Opta Minerals Inc.

Interim Segmented Information

For the Three Months Ended September 30, 2015 and 2014

(Unaudited)

Expressed in Thousands of US Dollars

	Three Months Ended September 30,2015
	Steel and			Industrial
	Magnesium			Minerals			Corporate			Total
External revenue by market
Canada	$	2,860		$	2,409		$	-		$	5,269
US		12,979			4,660			-			17,639
Europe		2,282			2,105			-			4,387
Other		87			1,402			-			1,489
Total revenue from external customers		18,208			10,576			-			28,784
Segment income (loss) before corporate expenses, property, fair value adjustments to contingent consideration, finance expense and income taxes		3,405			(1,229	)		-			2,176
Fair value adjustments to contingent consideration		(137	)		-			-			(137	)
Corporate expenses and foreign exchange gain (loss)		-			-			(224	)		(224	)
Segment income (loss) before finance expense and income taxes		3,268			(1,229	)		(224	)		1,815
Finance expense		-			-			-			(873	)
Income tax expense		-			-			-			(256	)
Income for the period		-			-			-			686
Depreciation of property, plant and equipment		460			267			28			755
Amortization of intangible assets		476			4			18			498
Expenditures on property, plant and equipment	$	217		$	224		$	-		$	441

Opta Minerals Inc.

Interim Segmented Information

For the Nine Months Ended September 30, 2015 and 2014

(Unaudited)

Expressed in Thousands of US Dollars

	Nine Months Ended September 30, 2015
	Steel and		Industrial
	Magnesium		Minerals			Corporate			Total
External revenue by market
Canada	$	8,938	$	7,274		$	-		$	16,212
US		37,450		14,919			-			52,369
Europe		7,010		6,506			-			13,516
Other		256		5,562			-			5,818
Total revenue from external customers		53,654		34,261			-			87,915
Segment income (loss) before corporate expenses, property, plant and equipment write-downs, fair value adjustments to contingent consideration, finance expense and income taxes		7,074		(3,085	)		-			3,989
Property, plant and equipment write-downs		-		(495	)		-			(495	)
Fair value adjustments to contingent consideration		49		-			-			49
Corporate expenses and foreign exchange gain (loss)		-		-			(3,187	)		(3,187	)
Segment income (loss) before finance expense and income taxes		7,123		(3,580	)		(3,187	)		356
Finance expense		-		-			-			(3,565	)
Income tax expense		-		-			-			(1,133	)
Loss for the period		-		-			-			(4,342	)
Total assets as at September 30, 2015		57,280		37,960			1,957			97,197
Depreciation of property, plant and equipment		1,399		808			92			2,299
Amortization of intangible assets		1,443		4			58			1,505
Goodwill and intangible assets as at September 30, 2015		32,327		-			76			32,403
Expenditures on property, plant and equipment	$	375	$	517		$	13		$	905

Opta Minerals Inc.

Interim Segmented Information

For the Three Months Ended September 30, 2015 and 2014

(Unaudited)

Expressed in Thousands of US Dollars

	Three Months Ended September 30, 2014
	Steel and			Industrial
	Magnesium			Minerals			Corporate			Total
External revenue by market
Canada	$	3,733		$	3,032		$	-		$	6,765
US		14,885			6,818			-			21,703
Europe		2,911			2,637			-			5,548
Other		23			1,840			-			1,863
Total revenue from external customers		21,552			14,327			-			35,879
Segment income (loss) before corporate expenses, property, plant and equipment write-downs, fair value adjustments to contingent consideration, finance expense and income taxes		2,948			(974	)		-			1,974
Property, plant and equipment write-downs		-			(180	)		-			(180	)
Fair value adjustments to contingent consideration		(115	)		-			-			(115	)
Corporate expenses and foreign exchange gain (loss)		-			-			(1,247	)		(1,247	)
Segment income (loss) before finance expense and income taxes		2,833			(1,154	)		(1,247	)		432
Finance expense		-			-			-			(1,035	)
Income tax recovery		-			-			-			1,122
Income for the period		-			-			-			519
Depreciation of property, plant and equipment		488			430			42			960
Amortization of intangible assets		535			-			20			555
Expenditures on property, plant and equipment	$	627		$	145		$	71		$	843

Opta Minerals Inc.

Interim Segmented Information

For the Nine Months Ended September 30, 2015 and 2014

(Unaudited)

Expressed in Thousands of US Dollars

	Nine Months Ended September 30, 2014
	Steel and			Industrial
	Magnesium			Minerals			Corporate			Total
External revenue by market
Canada	$	10,822		$	8,401		$	-		$	19,223
US		39,794			21,650			-			61,444
Europe		9,854			8,960			-			18,814
Other		25			6,161			-			6,186
Total revenue from external customers		60,495			45,172			-			105,667
Segment income (loss) before corporate expenses, property, plant and equipment write-downs, fair value adjustments to contingent consideration, finance expense and income taxes		8,434			(270	)		-			8,164
Property, plant and equipment write-downs		-			(180	)		-			(180	)
Fair value adjustments to contingent consideration		(221	)		-			-			(221	)
Corporate expenses and foreign exchange gain (loss)		-			-			(5,000	)		(5,000	)
Segment income (loss) before finance expense and income taxes		8,213			(450	)		(5,000	)		2,763
Finance expense		-			-			-			(2,783	)
Income tax expense		-			-			-			1,012
Income for the period		-			-			-			992
Total assets as at September 30, 2014		69,544			50,877			4,423			124,844
Depreciation of property, plant and equipment		1,372			1,332			123			2,827
Amortization of intangible assets		1,613			1			58			1,672
Goodwill and intangible assets as at September 30, 2014		37,903			617			112			38,632
Expenditures on property, plant and equipment	$	1,455		$	272		$	77		$	1,804