CVTech Group Inc. announced that it has signed three equipment and maintenance services contracts worth $11 million with utility service providers in eastern United States. The agreements will be completed through its U.S. subsidiaries Thirau LLC and Riggs Distler & Co. The first contract, worth $5 million, will supply Orange and Rockland Utilities Inc., a subsidiary of Consolidated Edison Inc., with overhead electric line construction for a New York City suburb. The company will also provide equipment and services to 'a large-scale independent power producer' in Maryland, through two separate contracts worth a combined $6 million.

CVTech Group Inc. reported consolidated earnings results for the third quarter and nine months ended September 30, 2009. Consolidated revenues in the third quarter of 2009 were CAD 44.6 million, up CAD 3.4 million or 8.2% from CAD 41.2 million in the third quarter of 2008. The contribution from Riggs Distler was approximately CAD 10.6 million. Earnings before interest, taxes, depreciation and amortization were CAD 5.0 million, or 11.2% of revenues, compared to CAD 6.4 million, or 15.6% of revenues, for the same period in 2008. Net earnings were CAD 1.8 million or CAD 0.03 per basic and diluted share, compared to CAD 2.8 million or CAD 0.05 per basic and diluted share for the same period in 2008. For the first nine months of 2009, consolidated revenues were CAD 98.4 million, compared to CAD 108.6 million in the same period in 2008. EBITDA was CAD 9.4 million, or 9.6% of revenues, compared to CAD 14.1 million, or 13.0% of revenues, a year earlier. Net income was CAD 3.1 million or CAD 0.05 per basic and diluted share, compared to CAD 5.3 million or CAD 0.10 per basic share and CAD 0.09 per diluted share last year.

CVTech Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company has reported earnings before income taxes of CAD 2,653,000 against CAD 4,695,000 reported in the same period last year. For the quarter cash flows from operating activities were CAD 2,900,000 against CAD 3,737,000 and expenditure on additions to property, plant and equipment was CAD 1,443,000 against CAD 1,763,000 reported last year. For the nine months, the company has reported earnings before income taxes of CAD 98,390,000 against CAD 108,602,000 reported in the same period last year. For the nine months cash flows from operating activities were CAD 6,419,000 against CAD 8,057,000 and expenditure on additions to property, plant and equipment was CAD 6,028,000 against CAD 5,406,000 reported last year.