Mr. Dan Stearne reports

INVENTRONICS ANNOUNCES 2024 Q2 FINANCIAL RESULTS

Inventronics Ltd. has released its unaudited 2024 Q2 (second quarter) financial results.

For the three months ended June 30, 2024, Inventronics reported net earnings of $141,000, or 2.9 cents per share, on revenue of $1,945,000, compared with net earnings of $346,000, or 7.1 cents per share, on revenue of $3,103,000 for the three months ended June 30, 2023. For the six months ended June 30, 2024, Inventronics reported net earnings of $149,000, or 3.1 cents per share, on revenue of $3,377,000, compared with net earnings of $671,000, or 13.8 cents per share, on revenue of $6,438,000 for the comparative period in 2023.

The lower revenue and profitability for 2024 have been the result of customers delaying purchases to lower their enclosure inventories in response to slower installation progress.

Further information about the financial results of the corporation can be found in the corporation's unaudited interim financial statements for the quarter ended June 30, 2024, and accompanying management's discussion and analysis (MD&A) filed on SEDAR+.

About Inventronics Ltd.

Inventronics designs and manufactures enclosures and other products for an array of customers in the telecommunications, cable, electric distribution, energy and other industries in North America. The corporation owns its ISO 9001-registered production facility in Brandon, Man.

Shares of Inventronics trade on the TSX Venture Exchange under the symbol IVX.