Highlights of the Quarter (unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars) * Sales Rise for Engineered Materials (“EM”) Division: EM sales rose by 13.5% in the quarter as compared to the comparable prior-year period, buoyed by increased commercial product sales. Copper Alloys division sales decreased by 17% in the quarter as compared to the prior-year period, primarily due to softer economic conditions as a result of COVID-19. * Gross Margin Improves: Gross margin improved in the quarter to 12.7% from 10.2% in the prior-year period. Gross margin for the EM division rose sharply to 22%, from a negative averaged adjusted gross margin of 1.6%. * Consolidated EBITDA1 Declined But Both Operating Divisions Booked Positive EBITDA: Consolidated adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) for the quarter was ($121,000), which compared to a positive Adjusted EBITDA of $133,000 for the prior-year period. Both operating divisions posted positive Adjusted EBITDA for the quarter, but the combined contribution from operations was exceeded by corporate costs. * Company Records Comprehensive Loss: IBC had a comprehensive loss of $954,000 in the quarter, or ($0.02) per share, which compared to a loss of $550,000, or ($0.01) in the prior-year period. The loss was driven by lower sales and softer demand in copper alloy markets primarily due to the COVID-19 pandemic.FRANKLIN, Ind., Nov. 25, 2020 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces its financial results for the quarter ended September 30, 2020.In the quarter, the Company recorded a comprehensive loss of $954,000 in the quarter, or ($0.02) per share. That compared to a loss of $550,000, or ($0.01) in the prior-year period. The loss was driven by lower sales and softer market demand primarily due to the COVID-19 pandemic. Consolidated sales for the quarter were $4,427,000, which compared to $4,916,000 in the prior-year period. EM sales of $1,236,000 rose by 13.5% in the quarter as compared to the comparable prior-year period, driven primarily by increased demand for BeAl products in commercial markets.Copper Alloys sales of $3,191,000 were lower by 17% as compared to the prior-year period, primarily due to COVID-19-related economic slowness.SELECTED RESULTS: Consolidated Operations ($000s) Quarter Ended 9-30-2020Quarter Ended 9-30-2019 Sales $4,427 $4,916 Operating Income (Loss)2 ($505) ($325) Comprehensive Income (Loss) ($954) ($550) Adjusted EBITDA ($121) $133 Gross margin improved in the quarter to 12.7% from 10.2% in the prior-year period. Gross margin for the EM division rose sharply to 22%, from a negative averaged adjusted gross margin of 1.6%.Both operating divisions posted positive Adjusted EBITDA for the quarter, with EM booking $158,000 and Copper Alloys booking $10,000. On a consolidated basis, Adjusted EBITDA for the quarter was ($121,000), which compared to a positive Adjusted EBITDA of $133,000 for the prior-year period.ENGINEERED MATERIALS DIVISION RESULTSSELECTED RESULTS: Engineered Materials ($000s) Quarter Ended 9-30-2020Quarter Ended 9-30-2019 Sales $1,236 $1,089 Operating Income (Loss) ($54) ($222) Comprehensive Income (Loss) ($82) ($258) Adjusted EBITDA $158 ($7) IBC’s EM division, which produces aerospace-grade beryllium-aluminum (“BeAl”) alloy products, posted a comprehensive loss of $82,000 in the quarter, as compared to a comprehensive loss of $258,000 in the prior-year period.EM sales of $1.2 million were 17% higher than sales of $1.1 million in the prior-year period, driven largely by increased demand for BeAl products in commercial markets.Adjusted EBITDA for the EM division of $158,000 also swung to the positive in the quarter, as compared to Adjusted EBITDA of ($7,000) in the prior-year period. COPPER ALLOYS DIVISION RESULTSIBC’s Copper Alloys division posted a comprehensive loss of $226,000 in the quarter, compared to a comprehensive income of $62,000 in the prior-year period. This was largely due to decreased demand for the division’s products as a result of the COVID-19 pandemic.SELECTED RESULTS: Copper Alloys ($000s) Quarter Ended 9-30-2020Quarter Ended 9-30-2019 Sales $3,191 $3,827 Operating Income (Loss) ($128) $149 Comprehensive Income (Loss) ($226) $62 Adjusted EBITDA $10 $305 Copper Alloys sales of $3.1 million in the quarter were 17% lower than sales of $3.8 million in fiscal Q1 of 2020. Gross margin of 9.1% in the quarter declined from a gross margin of 13.5% in the prior-year period. The decline was due to fixed costs being spread over a lower volume of sales.Adjusted EBITDA for the division was $10,000 in the quarter, which was down when compared to Adjusted EBITDA of $305,000 in the prior-year period.NON-IFRS MEASURESTo supplement its consolidated financial statements, which are prepared and presented in accordance with IFRS, IBC uses “operating income (loss)” and “Adjusted EBITDA”, which are non-IFRS financial measures. IBC believes that operating income (loss) helps identify underlying trends in the business that could otherwise be distorted by the effect of certain income or expenses that the Company includes in loss for the period, and provides useful information about core operating results, enhances the overall understanding of past performance and future prospects, and allows for greater visibility with respect to key metrics used by management in financial and operational decision-making. The Company believes that Adjusted EBITDA is a useful indicator for cash flow generated by the business that is independent of IBC’s capital structure.Operating income (loss) and Adjusted EBITDA should not be considered in isolation or construed as an alternative to loss for the period or any other measure of performance or as an indicator of our operating performance. Operating income (loss) and Adjusted EBITDA presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to IBC’s data.Operating Income (Loss)Operating income (loss) represents loss for the period, excluding foreign exchange loss, interest expense, interest income, other income (expense) and income taxes that the Company does not believe are reflective of its core operating performance during the periods presented. A reconciliation of the first quarter loss to operating loss follows:Three months ended September 302020 2019 ($000s)($000s) Loss for the period(954)(550) Foreign exchange (gain) loss61 (57) Interest expense399 283 Gain/Loss on disposal of assets(3)- Interest income- - Other income(5)(7) Arbitration award liability- - Income tax expense (recovery)(3)6 Operating loss(505)(325) Adjusted EBITDA Adjusted EBITDA represents our income (loss) for the period before interest, income taxes, depreciation, amortization and share-based compensation. A reconciliation of the first quarter loss to Adjusted EBITDA follows:Three months ended September 302020 2019 ($000s)($000s) Loss for the period(954)(550) Income tax expense (recovery)(3)6 Interest expense399 283 Depreciation, amortization, & impairment340 356 Stock-based compensation expense (non-cash)97 38 Adjusted EBITDA(121)133 For more information on IBC and its innovative alloy products, go here.On Behalf of the Board of Directors: "Mark A. Smith” Mark A. Smith, CEO & Chairman of the Board CONTACTS: Mark A. Smith, Chairman of the Board Jim Sims, Investor and Public Relations IBC Advanced Alloys Corp. +1 (303) 503-6203 Email: firstname.lastname@example.org Website: www.ibcadvancedalloys.com @IBCAdvanced $IB $IAALF ABOUT IBC ADVANCED ALLOYS CORP.IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, and Pennsylvania. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".CAUTIONARY STATEMENTSNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This disclosure contains a forward-looking statements. Forward-looking statements normally contain words like ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’ and similar expressions, and within this news release include any statements (express or implied) respecting improving sales volumes and gross margins while lowering our operating costs and increasing efficiencies across the enterprise. Although IBC believes that the expectations reflected in these forward-looking statement are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings, including its Annual Information Form for the fiscal year ended June 30, 2019, available at www.sedar.com. 1 We report non-IFRS measures such as "Adjusted EBITDA" and “Operating Income”. Please see information on this and other non-IFRS measures in the "Non-IFRS Measures" section of this MD&A. 2 IBC reports non-IFRS measures such as “Operating Income.” Please see information on this and other non-IFRS measures in the "Non-IFRS Measures" section of this news release and in IBC’s MD&A, available on Sedar.com.