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EXCO Exco Technologies Announces Results for Fourth Quarter and Year Ended September 30 , 2021 • Sales of $ 106.4 million for the quarter and $ 461.2 million for the year • EPS of $ 0.18 for the quarter and $ 0.98 for the year • EBITDA of $ 15.3 million and EBITDA margin 14.4 % in the quarter • Free Cash Flow of $ 37.3 million or $ 0.95 per share in Fiscal 2021 • Balance sheet in a $ 18.6 million net cash position TORONTO , Dec. 01 , 2021 ( GLOBE NEWSWIRE ) -- Exco Technologies Limited ( TSX - XTC , OTCQX - EXCOF ) today announced results for its fourth quarter and year ended September 30 , 2021. In addition , the Company announced the quarterly dividend of $ 0.10 per common share which will be paid on December 31 , 2021 to shareholders of record on December 17 , 2021. The dividend is an " eligible dividend " in accordance with the Income Tax Act of Canada . Sales Net income for the period Reported Diluted earnings per share from net income Cash dividend paid per share EBITDA Three Months ended September 30 Twelve Months ended September 30 2020 ( in $ millions except per share amounts ) 2021 2021 2020 $ 106.4 $ 100.7 $ 461.2 $ 412.3 $ 7.1 $ 10.7 $ 38.4 $ 27.4 $ 0.18 $ 0.27 $ 0.98 $ 0.69 $ 0.10 $ 0.095 $ 0.40 $ 0.38 $ 15.3 $ 15.8 $ 70.1 $ 53.5 " Exco completed the final quarter of fiscal 2021 with relatively strong results despite a very challenging environment , " said Darren Kirk , Exco's President and CEO . " We expect to build on this momentum in the year ahead as industry conditions normalize and recent program launches are fully ramped up . Longer term , our businesses will experience a continuing tailwind from the electric vehicle revolution and worldwide movement towards reducing emissions . " Fourth quarter consolidated sales were $ 106.4 million – an increase of $ 5.7 million or 6 % from the prior year . During the quarter , exchange rate movements decreased sales by $ 5.0 million . The Automotive Solutions segment experienced a 7 % decrease in sales , or a reduction of $ 4.4 million , to $ 56.8 million from $ 61.2 million in the fourth quarter of 2020. Excluding the impact of foreign exchange , segment sales decreased $ 1.4 million or 2 % . The sales decline was driven by materially lower vehicle production volumes in both North America and Europe due to supply chain disruptions including semiconductor chip shortages and logistical constraints . North American vehicle production was down 25 % during the quarter compared to a year ago and European vehicle production was down about 30 % . The segment's very modest top line decline in the context of this environment reflects the benefits of sizeable new program launches and favorable product mix , particularly at the segment's Polytech and Neocon operations . Looking forward , OEM vehicle production volumes are expected to increase as the semiconductor chip availability improves . Exco will benefit from this development as well as the restocking of certain accessory products and higher volumes arising from new / recent program launches . Quoting activity remains encouraging and we see ample opportunity to maintain our longer - term trend of increasing our content per vehicle across our portfolio of businesses . The Casting and Extrusion segment recorded sales of $ 49.6 million in the fourth quarter compared to $ 39.5 million last year an increase of $ 10.1 million or 26 % . Excluding the negative impact of foreign exchange movements , the segment's sales were up 31 % for the quarter . The Extrusion group experienced higher sales at all locations , reflecting pricing action , increased demand for extrusion tools across all industry segments and operational improvements that have continued to reduce lead times contributing to market share gains . The Castool group's revenues were higher for the quarter as demand for die - cast consumable tooling and extrusion products was solid , with a slightly stronger demand for the die - cast consumable tooling solutions leading the quarter . Castool growth was driven by increasing electric vehicle production which compensated for lower overall industry vehicle production . Castool continues to invest in new equipment and advance its proprietary tooling solutions which are increasingly required by customers as their manufactured components increase in size and complexity and as they focus on improving their own productivity and efficiency . The Large Mould group sales were up 34 % from the prior year quarter with a mixture of new tools , die rebuilds and solid additive sales representing key drivers of the results . New business from current and new customers was awarded in the quarter ; as a result , inventories and backlog continue to grow . Looking forward , quoting activity within all groups in this segment is strong and will benefit as automotive production rebounds . The Company's fourth quarter consolidated net income decreased to $ 7.1 million or earnings of $ 0.18 per share compared to $ 10.7 million or earnings of $ 0.27 per share in the same quarter last year – an EPS decrease of 33 % . The effective income tax rate was 27 % in the current quarter compared to negative 3 % in the same quarter last year . The effective tax rate in the current period reflects the impact of non - taxable expenses in foreign jurisdictions and the payment of franchise and state