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5N Plus Inc. Reports Record Results for the Four-Month Period Ended September 30, 2011

5N Plus Inc. (VNP.TO), a producer of specialty metal and chemical products that rose more than 5% on Monday, reported financial results for the four-month period ended September 30, 2011 and first quarter of stub year 2011. It said revenues, earnings, EBITDA and funds from operations all reached record levels largely exceeding corresponding numbers for previous quarters even when results for the period are pro-rated to a quarterly basis. Numbers for the comparable period ended August 31, 2010 have been restated to reflect changes resulting from the implementation of IFRS and the adoption of the US dollar as the company's functional and reporting currency. Revenues for the four-month period ended September 30, 2011 increased by 1,243% to $242.3 million compared to $18.0 million for the quarter ended August 31, 2010. Net earnings attributable to equity holders of 5N Plus for the four-month period ended September 30, 2011 were $15.6 million or $0.22 per share, representing a 457% increase over net earnings of $2.8 million or $0.06 per share for the quarter ended August 31, 2010. Before amortization of intangible assets related to MCP, net earnings attributable to equity holders of 5N Plus were $0.26 per share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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