{"id":13000,"date":"2019-08-12T07:20:06","date_gmt":"2019-08-12T11:20:06","guid":{"rendered":"http:\/\/www.neomaterials.com\/?p=13000"},"modified":"2022-03-21T19:12:14","modified_gmt":"2022-03-21T23:12:14","slug":"neo-performance-materials-reports-second-quarter-2019-results","status":"publish","type":"post","link":"https:\/\/www.neomaterials.com\/neo-performance-materials-reports-second-quarter-2019-results\/","title":{"rendered":"Neo Performance Materials Reports Second Quarter 2019 Results"},"content":{"rendered":"<p class=\"prntac\" style=\"text-align: center;\"><b>Q2 2019 Highlights<br class=\"dnr\"><\/b><i>(unless other noted, all financial amounts in this news release are expressed in U.S. dollars)<\/i><\/p>\n<ul>\n<li><span class=\"xn-money\">$101.7 million<\/span>&nbsp;in revenue<\/li>\n<li>Net income of&nbsp;<span class=\"xn-money\">$2.3 million<\/span>, or&nbsp;<span class=\"xn-money\">$0.05<\/span>&nbsp;per share<\/li>\n<li>Adjusted Net Income<sup>(1)<\/sup>&nbsp;of&nbsp;<span class=\"xn-money\">$5.2 million<\/span>, or&nbsp;<span class=\"xn-money\">$0.13<\/span>&nbsp;per share<\/li>\n<li>Adjusted EBITDA<sup>(1)<\/sup>&nbsp;of&nbsp;<span class=\"xn-money\">$12.0 million<\/span><\/li>\n<li>Quarter-end closes with&nbsp;<span class=\"xn-money\">$68.6 million<\/span>&nbsp;of net cash after paying&nbsp;<span class=\"xn-money\">$2.9 million<\/span>&nbsp;in dividends to the shareholders.<\/li>\n<li>A quarterly dividend to&nbsp;<span class=\"xn-money\">Cdn$0.10<\/span>&nbsp;per common share was declared on&nbsp;<span class=\"xn-chron\">August 8, 2019<\/span>&nbsp;for shareholders of record at&nbsp;<span class=\"xn-chron\">September 19, 2019<\/span>, with a payment date of&nbsp;<span class=\"xn-chron\">September 27, 2019<\/span>.<\/li>\n<\/ul>\n<p><span class=\"xn-location\">TORONTO<\/span>,&nbsp;<span class=\"xn-chron\">Aug. 12, 2019<\/span>&nbsp;\/CNW\/ &#8211; Neo Performance Materials Inc. (&#8220;<b>Neo<\/b>&#8220;, the &#8220;<b>Company<\/b>&#8220;) (<b>TSX:<a class=\"ticket-symbol\" href=\"https:\/\/www.newswire.ca\/news-releases\/neo-performance-materials-reports-second-quarter-2019-results-830863531.html#financial-modal\">NEO<\/a><\/b>), a global leader in the innovation and manufacturing of rare earth and rare metal-based functional materials, today released its second quarter 2019 financial results. The financial statements and management&#8217;s discussion and analysis (&#8220;<b>MD&amp;A<\/b>&#8220;) of these results can be viewed on Neo&#8217;s web site at&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.neomaterials.com<\/a>&nbsp;and on SEDAR at&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p><b><br \/>\nHIGHLIGHTS OF Q2 2019 CONSOLIDATED PERFORMANCE<\/b><\/p>\n<p>In the second quarter of 2019, Neo generated&nbsp;<span class=\"xn-money\">$101.7 million<\/span>&nbsp;in revenue, compared to&nbsp;<span class=\"xn-money\">$110.4 million<\/span>&nbsp;in Q2 2018; a decrease of&nbsp;<span class=\"xn-money\">$8.7 million<\/span>&nbsp;or 7.9%.&nbsp; Net income totaled&nbsp;<span class=\"xn-money\">$2.3 million<\/span>, or&nbsp;<span class=\"xn-money\">$0.05<\/span>&nbsp;per share.&nbsp; Adjusted Net Income<sup>(1)<\/sup>&nbsp;totaled&nbsp;<span class=\"xn-money\">$5.2 million<\/span>, or&nbsp;<span class=\"xn-money\">$0.13<\/span>&nbsp;per share.<\/p>\n<p>For the six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, consolidated revenue was&nbsp;<span class=\"xn-money\">$210.3 million<\/span>&nbsp;compared to&nbsp;<span class=\"xn-money\">$230.6 million<\/span>&nbsp;for the same period in the prior year; a decrease of&nbsp;<span class=\"xn-money\">$20.4 million<\/span>&nbsp;or 8.8%. Net income totaled&nbsp;<span class=\"xn-money\">$14.5 million<\/span>, or&nbsp;<span class=\"xn-money\">$0.36<\/span>&nbsp;per share. Adjusted Net Income&nbsp;<sup>(1)<\/sup>&nbsp;totaled&nbsp;<span class=\"xn-money\">$13.4 million<\/span>, or&nbsp;<span class=\"xn-money\">$0.33<\/span>&nbsp;per share.<\/p>\n<p>As of&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, Neo reported cash and cash equivalents of&nbsp;<span class=\"xn-money\">$69.6 million<\/span>, compared to&nbsp;<span class=\"xn-money\">$71.0 million<\/span>&nbsp;as at&nbsp;<span class=\"xn-chron\">December 31<\/span>, 2018.&nbsp; Neo has approximately&nbsp;<span class=\"xn-money\">$6.3 million<\/span>&nbsp;available under its credit facilities with&nbsp;<span class=\"xn-money\">$0.9 million<\/span>&nbsp;drawn from the revolving line of credit.&nbsp; In addition, Neo paid&nbsp;<span class=\"xn-money\">$5.7 million<\/span>&nbsp;in dividends to its shareholders in the six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>. and re-purchased&nbsp;<span class=\"xn-money\">$7.5 million<\/span>&nbsp;of stock under its Normal Course Issuer Bid Program.<\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTablec7ae\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><span style=\"font-size: 8pt;\"><sup>(1)<\/sup><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this new release and in the MD&amp;A, available on Neo&#8217;s website at&nbsp;<\/i><a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><i>www.neomaterials.com<\/i><\/a><i>&nbsp;and on SEDAR at&nbsp;<\/i><a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><i>www.sedar.com<\/i><\/a><i>.<\/i><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>SELECTED FINANCIAL RESULTS<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntbls\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen5\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>TABLE 1: Selected Consolidated Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen7\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b><i>Quarter-over-Quarter&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b><i>Year-over-Year&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Volume (tonnes)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">3,490<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">3,396<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">7,097<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">6,995<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">($000s)<\/span><\/p>\n<\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen6\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$101,736<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$110,433<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$210,266<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$230,618<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$5,850<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$12,269<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$22,089<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$25,774<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$9,329<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$24,983<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$30,168<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$41,655<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$12,004<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$17,858<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$28,490<\/span><\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$37,146<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Adjusted EBITDA %<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen6 prnpr6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">11.8%<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">16.2%<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">13.5%<\/span><\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">16.1%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTable2457\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><span style=\"font-size: 8pt;\"><i><sup>(1)<\/sup><\/i><i><span style=\"font-size: 8pt;\">Neo re<\/span>ports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>For the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, operating income was&nbsp;<span class=\"xn-money\">$5.9 million<\/span>&nbsp;and&nbsp;<span class=\"xn-money\">$22.1 million<\/span>, a decline of&nbsp;<span class=\"xn-money\">$6.4 million<\/span>&nbsp;and&nbsp;<span class=\"xn-money\">$3.7 million<\/span>, respectively, as compared to same periods last year.&nbsp; Neo had reported lower net income for the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>&nbsp;compared to the corresponding periods of 2018. The Magnequench segment led the decline in revenues in these periods as volumes were adversely affected by slower economic activity in various market segments globally, including in the automotive industry, and by customer inventory adjustments.&nbsp; However, given that rare earth commodity prices in 2019 generally softened through May, and given that the Magnequench segment passes these variable input costs through to most of its customers, a significant portion of Neo&#8217;s lower year-over-year revenue in the quarter was attributable to this input cost pass-through mechanic.<\/p>\n<p>Additionally, Neo booked a&nbsp;<span class=\"xn-money\">$1.0 million<\/span>&nbsp;impairment of assets and&nbsp;<span class=\"xn-money\">$0.8 million<\/span>&nbsp;of other expenses recorded from the closure of the production plant in&nbsp;<span class=\"xn-location\">Blanding, Utah<\/span>, Neo Rare Metals (<span class=\"xn-location\">Utah<\/span>), LLC (&#8220;<b>NRM Utah<\/b>&#8220;).&nbsp; Net income for the three months ended&nbsp;<span class=\"xn-chron\">June 30, 2018<\/span>&nbsp;was&nbsp;<span class=\"xn-money\">$7.9 million<\/span>&nbsp;higher due to the partial settlement of the insurance claims from the fire affecting Silmet in 2015, which Neo had recorded in other income.<\/p>\n<p>Neo continues to see longer term growth in demand for many of its key products driven by several global macro trends, including increased electrification of automobiles, which increases the need for Neo&#8217;s functional materials on a per-vehicle basis; greater demand for precision and efficient motors across multiple sectors, which encourages higher utilization of Neo&#8217;s magnetic materials; growth in hybrid and electric vehicles; more stringent government regulation with respect to air and water emissions; and trends toward greater utilization of lighter-weight materials in industries such as aerospace and consumer electronics.&nbsp; Neo&#8217;s functional materials are integral to technologies in all these end markets.<\/p>\n<p>&nbsp;<\/p>\n<p><b>MAGNEQUENCH SEGMENT RESULTS<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntbls\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen5\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>TABLE 2: Selected Magnequench Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen5\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Volume (tonnes)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,367<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,554<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,812<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,081<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">($000s)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$41,473<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$56,229<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$89,028<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$111,963<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$6,164<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$11,432<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$15,645<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$24,773<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$8,121<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$13,261<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$19,544<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$28,589<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$8,255<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$13,408<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$19,184<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$28,883<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTable3610\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><span style=\"font-size: 8pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>For the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, volumes decreased by 12.0% and 8.7%, respectively, compared to the same periods in the prior year, adversely impacted by a general slowdown in economic activity in various sectors, including automotive, and anticipated customer inventory adjustments.&nbsp; Revenues were down&nbsp;<span class=\"xn-money\">$14.8 million<\/span>&nbsp;and&nbsp;<span class=\"xn-money\">$22.9 million<\/span>&nbsp;compared to the corresponding periods in 2018 due to lower volumes and lower rare earth commodity prices in the first half of 2019. &nbsp;Neo passes through variable input cost to most of its customers.<\/p>\n<p>Volumes in the Magnequench segment decreased, mostly in its legacy and longer running programs, due to the slowdown in auto sales, slower economic performance in certain sectors, and anticipated customer inventory adjustments.&nbsp; Magnequench continues to see growth related to newer products including traction motors for hybrid and electric vehicles as well as programs that are still ramping up volumes to full production levels.&nbsp; Magnequench is benefiting from growth in the precision and efficient motors and the increased utilization of its magnetic materials on a per-vehicle basis, a continuing growth trend driven by a larger global macro trend toward increasing electrification of various vehicle systems.<\/p>\n<p>Adjusted EBITDA was&nbsp;<span class=\"xn-money\">$8.3 million<\/span>&nbsp;and&nbsp;<span class=\"xn-money\">$19.2 million<\/span>&nbsp;for the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, compared to&nbsp;<span class=\"xn-money\">$13.4 million<\/span>&nbsp;and&nbsp;<span class=\"xn-money\">$28.9 million<\/span>&nbsp;in the corresponding periods last year.&nbsp; Adjusted EBITDA was affected by lower volumes (both in margin and overhead absorption) as well as timing impacts from Neo&#8217;s input cost pass-through mechanics. This pass-through mechanic, which updates selling prices on a lagged basis (generally monthly and quarterly), is a key feature of Neo&#8217;s strategic focus on value-add margins.&nbsp; A rapid change in rare earth costs in the latter half of 2017 had a lagging pass-through effect which translated into higher selling prices (and higher margins) in the last quarter of 2017 and into the first six months of 2018.&nbsp; Rare earth input costs, and associated pass-through pricing were relatively stable in the second half of 2018, but declined in 2019 through May, which negatively impacted Neo&#8217;s revenues in the first six months of 2019.<\/p>\n<p>&nbsp;<\/p>\n<p><b>CHEMICALS AND OXIDES (&#8220;C&amp;O&#8221;) SEGMENT RESULTS<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntbls\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen5\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>TABLE 3: Selected C&amp;O Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\"><\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Volume (tonnes)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,053<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,776<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,188<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,783<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">($000s)<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen8\" style=\"text-align: right;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$38,534<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$36,698<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$82,107<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$81,854<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$3,696<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$3,808<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$10,322<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$5,925<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$4,870<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$4,937<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$12,660<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$8,214<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$4,924<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$5,180<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$11,912<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$8,700<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTablef58f\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><span style=\"font-size: 8pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>In the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, three-way auto catalysts saw incremental growth year-over-year, in spite of a general slowdown in automotive markets that has continued from the second half of 2018. However, this growth was more than offset by a decline in diesel catalyst products due to continuing market dynamics relative to diesel auto catalyst sales.&nbsp; The C&amp;O segment did not incur premium freight cost in the quarter, as opposed to&nbsp;<span class=\"xn-money\">$4.1 million<\/span>&nbsp;of premium freight costs incurred in the first half of 2018.<\/p>\n<p>With respect to C&amp;O&#8217;s rare earth separation business, a general decline in rare earth commodity prices in the first half of 2019, prior to June, led to a lagging impact of higher cost inventory relative to current selling prices, and that had a negative impact on margins in the first half of 2019.&nbsp; Offsetting this, Neo&#8217;s rare earth separation business benefited from the timing of high-value spot sales orders in the first quarter of 2019, which is common in the rare earth separation business, and this had a positive impact on operating income and EBITDA.&nbsp; There were few spot sales in the same period of 2018.<\/p>\n<p>&nbsp;<\/p>\n<p><b>RARE METALS SEGMENT RESULTS<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntbls\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen5\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>TABLE 4: Selected Rare Metals Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year&nbsp;<br class=\"dnr\">Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\"><\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Volume (tonnes)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">154<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">139<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">272<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">274<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">($000s)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen9\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen9\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen9\" style=\"text-align: right;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$25,027<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$21,321<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$46,558<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$44,092<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating (loss) income<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$(371)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$1,160<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$(214)<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$3,639<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$780<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$2,384<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$2,142<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$6,093<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$1,813<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$2,472<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$2,988<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$6,268<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTablef074\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><span style=\"font-size: 8pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>For the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, Rare Metals increased revenues by 17.4% and 5.6%, respectively, driven primarily by increases in hafnium product sales as the business continues to generate additional demand from both new and existing customers.&nbsp; This was offset by the continued decline in pricing for tantalum-based products.&nbsp; The Rare Metals segment continues to develop new products and focus on value-added margins to mitigate short-term variations in its earnings due to material price volatility.<\/p>\n<p>The segment recorded a&nbsp;<span class=\"xn-money\">$1.0 million<\/span>&nbsp;impairment of assets affecting operating income related to the closure of NRM Utah in the three and six months ended&nbsp;<span class=\"xn-chron\">June 30<\/span>, 2019.&nbsp; In addition to this impairment, the segment had also recognized a restructuring and other charge of&nbsp;<span class=\"xn-money\">$0.8 million<\/span>.&nbsp; Subsequent to the closure, a substantial portion of NRM Utah&#8217;s business will be transferred to the segment&#8217;s operation in&nbsp;<span class=\"xn-location\">Peterborough, Ontario<\/span>, which already houses the balance of the gallium business, resulting in additional synergies and efficiencies.&nbsp; Neo expects to complete the transfer and closure activities in the first half of 2020 and expects to see immediate operating and financial benefits after the transfer is complete.&nbsp; The NRM Utah facility was a modest sized facility with&nbsp;<span class=\"xn-money\">$3.2 million<\/span>&nbsp;in annualized sales and nominal EBITDA.<\/p>\n<p><b><br \/>\nCONFERENCE CALL ON&nbsp;<span class=\"xn-chron\">MONDAY, AUGUST 12, 2019<\/span>&nbsp;AT&nbsp;<span class=\"xn-chron\">10 AM<\/span>&nbsp;EASTERN<\/b><\/p>\n<p>Management will host a teleconference call on&nbsp;<span class=\"xn-chron\">Monday, August 12, 2019<\/span>&nbsp;at&nbsp;<span class=\"xn-chron\">10:00 a.m. (Eastern Time)<\/span>&nbsp;to discuss the second quarter 2019 results.&nbsp; Interested parties may access the teleconference by calling (647) 427-7450 (local) or&nbsp; (888) 231-8191 (toll-free long distance) or by visiting&nbsp;<a href=\"https:\/\/cnw.en.mediaroom.com\/events\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">https:\/\/cnw.en.mediaroom.com\/events<\/a>.&nbsp; A recording of the teleconference may be accessed by calling (416) 849-0833 (local) or (855) 859-2056 (toll-free long distance), and entering pass code 4787727# until&nbsp;<span class=\"xn-chron\">September 12, 2019<\/span>&nbsp;or by visiting&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2150818223&amp;u=http%3A%2F%2Fcnw.en.mediaroom.com%2Fevents&amp;a=http%3A%2F%2Fcnw.en.mediaroom.com%2Fevents\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">https:\/\/cnw.en.mediaroom.com\/events<\/a>.<\/p>\n<p><b><br \/>\nNON-IFRS MEASURES<\/b><\/p>\n<p>This news release refers to certain non-IFRS financial measures such as &#8220;Adjusted Net Income&#8221;, &#8220;EBITDA&#8221;, &#8220;Adjusted EBITDA&#8221;, and &#8220;Adjusted EBITDA Margin&#8221;.&nbsp; These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of Neo&#8217;s results of operations from management&#8217;s perspective. Neo&#8217;s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting.&nbsp; Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of Neo&#8217;s financial information reported under IFRS.&nbsp; Neo uses non-IFRS financial measures to provide investors with supplemental measures of its base-line operating performance and to eliminate items that have less bearing on operating performance or operating conditions and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures.&nbsp; Neo believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers.&nbsp; Neo&#8217;s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period.&nbsp; For the operating segments, Neo also uses &#8220;OIBDA&#8221; and &#8220;Adjusted OIBDA&#8221;, which reconciles to operating income. Neo uses Adjusted OIBDA and Adjusted EBITDA interchangeably as the use of adjustments in each measure provides the same calculated outcome of operating performance. For definitions of how Neo defines such financial measures, please see the &#8220;Non-IFRS Financial Measures&#8221; section of Neo&#8217;s management&#8217;s discussion and analysis filing for the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>, available on Neo&#8217;s web site at&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.neomaterials.com<\/a>&nbsp;and on SEDAR at&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><b>TABLE 5: CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen10\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>June 30, 2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen10\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>December 31,<br class=\"dnr\">2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>ASSETS<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Current<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">69,584<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">71,015<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,588<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,650<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Accounts receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">58,916<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">49,544<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Inventories<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">125,491<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">136,350<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income taxes receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">158<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">343<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19,018<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">20,554<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total current assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>274,755<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>279,456<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Property, plant and equipment<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">89,041<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">86,963<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Intangible assets<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">64,494<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">66,721<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Goodwill<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">99,405<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">99,365<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Investments<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,824<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,605<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Deferred tax assets<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,240<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,079<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other non-current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">841<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">834<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total non-current assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>263,845<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>263,567<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>538,600<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>543,023<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Current<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Bank advances and other short-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">943<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,970<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Accounts payable and other accrued charges<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">51,154<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">57,942<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income taxes payable<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,514<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,566<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,673<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">63<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">777<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total current liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>59,347<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>69,255<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Employee benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,984<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,125<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Derivative liability<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11,176<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,525<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Provisions<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,717<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,717<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Deferred tax liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17,890<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17,730<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,978<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,212<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,494<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total non-current liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>40,957<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>36,591<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>100,304<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>105,846<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,704<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,758<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity attributable to equity holders of Neo Performance Materials Inc<\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">433,592<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">432,419<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>438,296<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>437,177<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total liabilities and equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>538,600<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen11\" style=\"text-align: right;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen12\" style=\"text-align: right;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen12\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>543,023<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTabled3c2\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen13\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">____________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\"><i>See accompanying notes to this table in Neo&#8217;s&nbsp; Interim Condensed Consolidated Financial Statements for the Three and Six Month Periods Ended June 30, 2019, available on Neo&#8217;s website at<\/i><a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><i>www.neomaterials.com<\/i><\/a><i>&nbsp;and on SEDAR at&nbsp;<\/i><a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><i>www.sedar.com<\/i><\/a><i>.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>TABLE 6: CONSOLIDATED RESULTS OF OPERATIONS<\/b><\/p>\n<p><i>Comparison of the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2019<\/span>&nbsp;to the three and six months ended&nbsp;<span class=\"xn-chron\">June 30, 2018<\/span>:<\/i><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Three Months Ended&nbsp;<br class=\"dnr\">June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24 prnpr8\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Six Months Ended&nbsp;<br class=\"dnr\">June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Revenue<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">101,736<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">110,433<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">210,266<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">230,618<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Costs of sales<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Costs excluding depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">74,782<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">76,368<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">153,171<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">160,054<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnsbbs prntar prnpl6 prnsbl1 prnpr8\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,353<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29 prnpr8\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,475<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,763<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,985<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Gross profit<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>24,601<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>31,590<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>52,332<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>65,579<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Expenses<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Selling, general and administrative<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11,249<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11,913<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">18,545<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">25,059<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share-based compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">694<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,090<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">304<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,180<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,722<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,999<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,604<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Research and development<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,780<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,596<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,381<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,962<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets<\/span><\/p>\n<\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">18,751<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19,321<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">30,243<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,805<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Operating income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>5,850<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen18\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>12,269<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen18\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>22,089<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen18\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>25,774<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other (expense) income<\/span><\/p>\n<\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(468)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,112<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(594)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,078<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Finance (costs) income, net<\/span><\/p>\n<\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(309)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,703<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,691)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,466<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange (loss) gain<\/span><\/p>\n<\/td>\n<td class=\"prngen29 prnpr6\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(401)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">237<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(308)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">66<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Income from operations before income taxes and equity income (loss) of associates<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>4,672<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>22,321<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>19,496<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>35,384<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income tax expense<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,360)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3,351)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5,195)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6,542)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Income from operations before equity income (loss) of associates<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,312<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>18,970<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>14,301<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>28,842<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity (loss) income of associates (net of income tax)<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(19)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">168<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">219<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(852)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,293<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>19,138<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>14,520<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>27,990<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Attributable to:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity holders of Neo Performance Materials Inc<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,090<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19,174<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">14,337<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">27,841<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">203<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(36)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">183<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">149<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,293<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>19,138<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>14,520<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen21\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>27,990<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Earnings per share attributable to equity holders of Neo Performance Materials Inc.:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.05<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.48<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.70<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.05<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.47<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.69<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTable7627\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen13\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">______________________________<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\"><i>See Management&#8217;s Discussion and Analysis for the Three and Six Month Periods Ended June 30, 2019, available on Neo&#8217;s website at&nbsp;<\/i><a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><i>www.neomaterials.com<\/i><\/a><i>&nbsp;and on SEDAR at&nbsp;<\/i><a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><i>www.sedar.com<\/i><\/a><i>.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>TABLE 7: RECONCILIATION OF NET INCOME TO EBITDA, ADJUSTED EBITDA AND FREE CASH FLOW<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"5\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Three Months Ended&nbsp;<br class=\"dnr\">June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"7\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Six Months Ended<\/b><\/span><\/p>\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\"><\/td>\n<td class=\"prngen25\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen25\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen25\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen25\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,293<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>19,138<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>14,520<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>27,990<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Add back (deduct):<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Finance costs (income), net<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">309<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24 prnpr10\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,703)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,691<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,466)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income tax expense<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,360<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,351<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,195<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,542<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization included in costs of sales<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,353<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,475<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,763<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,985<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,014<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,722<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,999<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,604<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>9,329<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>24,983<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>30,168<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>41,655<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjustments to EBITDA:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity loss (income) in associates<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(168)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(219)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">852<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other expense (income)&nbsp;<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">468<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(8,112)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">594<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(8,078)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange loss (gain)&nbsp;<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">401<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(237)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">308<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(66)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets&nbsp;<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,014<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,014<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share and value-based compensation expense (recovery)&nbsp;<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">773<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,392<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,426)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,783<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Transaction cost&nbsp;<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29 prnpr10\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,949)<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>12,004<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>17,858<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>28,490<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>37,146<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>Adjusted EBITDA Margins<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>11.8%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>16.2%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>13.5%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>16.1%<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Capital expenditures<\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,973<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,929<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,638<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,234<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Free Cash Flow<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>10,031<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>13,929<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>23,852<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen24\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>30,912<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>Free Cash Flow Conversion<sup>&nbsp;(6)<\/sup><\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">83.6%<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">78.0%<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">83.7%<\/span><\/p>\n<\/td>\n<td class=\"prngen24\" style=\"text-align: right;\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">83.2%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTableadf8\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b><u>Notes:<\/u><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Represents other expenses resulting from non-operational related activities. Other income primarily relating to cost and insurance recoveries as a result of the fire at the Silmet facility. These costs and recoveries are not indicative of Neo&#8217;s ongoing activities.&nbsp;<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Represents unrealized and realized foreign exchange losses (gains) that include non-cash adjustments in translating foreign denominated monetary assets and liabilities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">The $1.0 million impairment in the Rare Metals division represents impairment of property, plant and equipment and other assets related to the closure of NRM Utah that will not be utilized as a result of the closure.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Represents share and value-based compensation expense in respect of the Legacy Plan, the LTIP and the long-term value bonus plan, which has similar vesting criteria to the share-based plan and is settled in cash for non-executives and non-North Americans where implementation of a share settlement plan would have been prohibitively expensive in terms of administration and compliance.&nbsp; Value-based compensation expense\/(recovery) of $79 and $(1,730) are included in selling, general, and administration expenses for the three and six months ended June 30, 2019, respectively, and expense of $302 and $603 are included for the three and six months ended June 30, 2018, respectively.&nbsp; Neo has removed both the share and value-based compensation expense from EBITDA to provide comparability with historic periods and to treat it consistently with the share-based awards that they are intended to replace.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">These represents legal, professional advisory fees and other transaction costs incurred netted with the amounts recoverable from Luxfer for the termination of the Luxfer Transaction. &nbsp;These net recoveries were included in selling, general, and administration expense.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Calculated as Free Cash Flow divided by Adjusted EBITDA.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>TABLE 8: RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" style=\"width: 74%;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen14\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen15\" style=\"text-align: right; width: 22.0588%;\" colspan=\"6\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Three Months Ended&nbsp;<br class=\"dnr\">June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right; width: 24.4118%;\" colspan=\"6\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b>Six Months Ended&nbsp;<br class=\"dnr\">June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2019<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2018<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 2.20588%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right; width: 8.52941%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,293<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>19,138<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>14,520<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen18\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>27,990<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjustments to net income:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange (gain) loss&nbsp;<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">401<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(237)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">308<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(66)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets&nbsp;<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share and value-based compensation expense (recovery)&nbsp;<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">773<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,392<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,426)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,783<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Transaction cost&nbsp;<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,949)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-recurring items included in other expense (income)&nbsp;<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">756<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(7,865)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">756<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(7,865)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Tax impact of the above items<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">61<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">151<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(85)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted net income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 2.20588%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 8.52941%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>5,234<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>12,489<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>13,374<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>22,757<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prnpl10 prnsbl1 prnpr6\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Attributable to:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity holders of Neo Performance Materials Inc<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,031<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">12,525<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">13,191<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">22,608<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">203<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen22\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(36)<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">183<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">149<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen35\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen35\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen35\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen35\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Weighted average number of common shares outstanding:<\/span><\/p>\n<\/td>\n<td class=\"prngen36\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen36\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen36\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen36\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen36\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen36\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,200,803<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,903,277<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,420,123<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,911,662<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,346,274<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">40,458,090<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,653,011<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">40,451,774<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\" style=\"width: 101.176%;\" colspan=\"14\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted earnings per share&nbsp;<sup>(6)<\/sup>&nbsp;attributable to equity shareholders of Neo Performance Materials Inc.:<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.13<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.31<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.33<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.57<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\" style=\"width: 55.8824%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.13<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 10.7353%;\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.31<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 0.294118%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.33<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.47059%;\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 1.91176%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right; width: 8.82353%;\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">0.56<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table id=\"convertedTable78ee\" class=\"prngen1\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><b><u>Notes:<\/u><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Represents unrealized and realized foreign exchange losses (gains) that include non-cash adjustments in translating foreign denominated monetary assets and liabilities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">The $1.0 million impairment in the Rare Metals division represents impairment of property, plant and equipment and other assets related to the closure of NRM Utah that will not be utilized as a result of the closure.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Represents share and value-based compensation expense in respect of the Legacy Plan, the LTIP and the long-term value bonus plan, which has similar vesting criteria to the share-based plan and is settled in cash for non-executives and non-North Americans where implementation of a share settlement plan would have been prohibitively expensive in terms of administration and compliance.&nbsp; Value-based compensation expense\/(recovery) of $79 and $(1,730) are included in selling, general, and administration expenses for the three and six months ended June 30, 2019, respectively, and expense of $302 and $603 are included for the three and six months ended June 30, 2018, respectively.&nbsp; Neo has removed both the share and value-based compensation expense from net income to provide comparability with historic periods and to treat it consistently with the share-based awards that they are intended to replace.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">These represents legal, professional advisory fees and other transaction costs incurred netted with the amounts recoverable from Luxfer for the termination of the Luxfer Transaction. &nbsp;These net recoveries were included in selling, general, and administration expense.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Represents partial settlement of the insurance claims from the fire affecting Silmet in 2015 and restructuring costs related to the closure of the NRM Utah. Neo has removed this from net income to provide comparability with historic periods.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\"><\/td>\n<td class=\"prngen32\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen33\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\" style=\"font-size: 8pt;\">Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this new release and in the MD&amp;A, available on Neo&#8217;s website&nbsp;<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.neomaterials.com<\/a>&nbsp;and on SEDAR at<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>About Neo Performance Materials<\/b><\/p>\n<p>Neo Performance Materials is a global leader in the innovation and manufacturing of rare earth and rare metal-based functional materials, which are essential inputs to high technology, high growth, future-facing industries. The business of Neo is organized along three segments: Magnequench, Chemicals &amp; Oxides and Rare Metals. Neo is headquartered in&nbsp;<span class=\"xn-location\">Toronto, Ontario, Canada<\/span>; with corporate offices in&nbsp;<span class=\"xn-location\">Greenwood Village, Colorado<\/span>, US; and&nbsp;<span class=\"xn-location\">Beijing, China<\/span>. Neo operates globally with sales and production across 10 countries, being&nbsp;<span class=\"xn-location\">Japan<\/span>,&nbsp;<span class=\"xn-location\">China<\/span>,&nbsp;<span class=\"xn-location\">Thailand<\/span>,&nbsp;<span class=\"xn-location\">Estonia<\/span>,&nbsp;<span class=\"xn-location\">Singapore<\/span>,&nbsp;<span class=\"xn-location\">Germany<\/span>,&nbsp;<span class=\"xn-location\">United Kingdom<\/span>,&nbsp;<span class=\"xn-location\">Canada<\/span>,&nbsp;<span class=\"xn-location\">United States<\/span>, and&nbsp;<span class=\"xn-location\">South Korea<\/span>. For more information, please visit&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=1378773340&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.neomaterials.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Cautionary Statements Regarding Forward Looking Statements<\/b><\/p>\n<p>This news release contains &#8220;forward-looking information&#8221; within the meaning of applicable securities laws in&nbsp;<span class=\"xn-location\">Canada<\/span>. Forward-looking information may relate to future events or future performance of Neo. All statements in this release, other than statements of historical facts, with respect to Neo&#8217;s objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: expectations regarding certain of Neo&#8217;s future results and information, including, among other things, revenue, expenses, sales growth, capital expenditures, and operations; statements with respect to current and future market trends that may directly or indirectly impact sales and revenue of Neo; expected use of cash balances; continuation of prudent management of working capital; source of funds for ongoing business requirements and capital investments; expectations regarding sufficiency of the allowance for uncollectible accounts and inventory provisions; analysis regarding sensitivity of the business to changes in exchange rates; impact of recently adopted accounting pronouncements; risk factors relating to intellectual property protection and intellectual property litigation; and, expectations concerning any remediation efforts to Neo&#8217;s design of its internal controls over financial reporting and disclosure controls and procedures. Often, but not always, forward-looking information can be identified by the use of words such as &#8220;plans&#8221;, &#8220;expects&#8221;, &#8220;is expected&#8221;, &#8220;budget&#8221;, &#8220;scheduled&#8221;, &#8220;estimates&#8221;, &#8220;continues&#8221;, &#8220;forecasts&#8221;, &#8220;projects&#8221;, &#8220;predicts&#8221;, &#8220;intends&#8221;, &#8220;anticipates&#8221; or &#8220;believes&#8221;, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results &#8220;may&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;should&#8221;, &#8220;might&#8221; or &#8220;will&#8221; be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Neo believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this discussion and analysis should not be unduly relied upon. For more information on Neo, investors should review Neo&#8217;s continuous disclosure filings that are available under Neo&#8217;s profile at&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2548661-1&amp;h=2244864974&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p><strong>Contacts:<\/strong><\/p>\n<p>Ali Mahdavi, Investor Relations, (416) 962-3300, Email: ir@neomaterials.com<\/p>\n<p>Jim Sims, Media Relations, (303) 503-6203, Email: media@neomaterials.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Neo Performance Materials Inc. (TSX:NEO), a global leader in the innovation and manufacturing of rare earth and rare metal-based functional materials, today released its second quarter 2019 financial results.<\/p>\n","protected":false},"author":6,"featured_media":14641,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[48],"class_list":["post-13000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-releases","tag-q2-2019-earnings"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Neo Performance Rare Earth Materials Second Quarter 2019 Results<\/title>\n<meta name=\"description\" content=\"Neo Performance Materials is a global leader in the innovation and of rare earth and rare metal-based functional materials.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-second-quarter-2019-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neo Performance Rare Earth Materials Second Quarter 2019 Results\" \/>\n<meta property=\"og:description\" content=\"Neo Performance Materials is a global leader in the innovation and of rare earth and rare metal-based functional materials.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-second-quarter-2019-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Neo Performance Materials\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-12T11:20:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-21T23:12:14+00:00\" \/>\n<meta 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