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Legumex revenue rises

LEGUMEX WALKER INC., the Winnipeg-based specialty-crop and canola processor formed last year, has reported revenue of $65.8 million for the quarter ending March 31.

The activities produced a net loss of $1.3 million and EBITDA (earnings before interest, taxes, depreciation and amortization) of $2.2 million.

Because the company was not in business during the first quarter last year, it does not present comparative figures. Revenue for the two previous quarters was $62.4 million and $41.4 million.

There was no trading in the thinly traded stock and the price was unchanged Monday at $7.01.

Imris has tough Q1

IMRIS Inc. saw its first-quarter revenue drop 68 per cent to $3.5 million, but company officials said it was consistent with expectations for fewer planned installations in the period.

The Winnipeg-based, high-end-medical-device maker, a global leader in providing image-guided therapy solutions through its VISIUS Surgical Theatre, posted a loss of $8.35 million in the quarter versus a loss of $4.6 million in the same quarter last year.

In the balance of 2012, IMRIS forecasts revenue in the range of $57 million to $60 million. It expects quarterly revenues to increase significantly, with second-quarter 2012 revenue anticipated at $15 million to $16 million.

IMRIS shares closed down 10 cents to $3.20.

'Pink slime' wounds firm

LINCOLN, Neb. -- The maker of the beef product dubbed "pink slime" by critics said Monday it was laying off 86 employees from its corporate office in South Dakota, citing what it calls a misinformation campaign about a product food-industry experts agree is safe.

Beef Products Inc. executives initiated this second round of layoffs in response to intense negative publicity about the company's lean, finely textured beef. BPI has said it took a "substantial" financial hit after social media exploded with worry about the product and an online petition seeking its ouster from schools.

The company confirmed earlier this month it was closing its three plants in Kansas, Texas and Iowa, resulting in 650 lost jobs. A fourth plant in Nebraska will remain open but at reduced capacity.

-- staff / news services

Republished from the Winnipeg Free Press print edition May 15, 2012 B6

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