Velan Q3 Earnings Call Highlights

Administrative costs decreased to CAD 16.5 million (23% of sales) from CAD 17.0 million (23.2% of sales), which Sharma attributed to cost reduction initiatives. The quarter included CAD 1.3 million of restructuring expenses consisting of transaction-related costs.Gross profit was CAD 27.2 million, down from CAD 28.3 million last year, while gross margin was relatively stable at 37.9% versus 38.6%. Sharma said higher-margin projects helped sustain profitability, though results were offset by lower absorption ...