International Barrier Technology Inc., a maker of environmentally friendly fire resistant building materials, has released unaudited financial results for the fiscal first quarter ending Sept. 30, 2003. Sales were $565,088 (Canadian), on par with sales reported in the same period last year. However, volume of product shipped was down 10%.
“With sheathing prices more than doubling over the last year, not only has our gross margin declined relatively, but distributors were reluctant to maintain their usual inventory levels of these materials for fear of being exposed to potentially sharp price drops,” said Michael Huddy, Barrier’s president. “Despite