Manac Incorporated reported earnings results for the second quarter and first six months of 2015. The company reported net income of $2.5 million or $0.15 per share for the second quarter of 2015, compared with a net income of $1.9 million or $0.11 per share for the corresponding period in 2014. Revenues for the second quarter totaled $103.6 million, compared with $72.1 million for the corresponding period in 2014, an increase of 43.7%. Adjusted EBITDA was $7.5 million, compared to $5.0 million in the second quarter of 2014. The adjusted net income for the second quarter of 2015 was $3.8 million, compared to $2.7 million in the same period in 2014. The increase in revenues is attributable in part to the acquisition of Peerless Limited, but mainly to an increased production output at the company's three other facilities to address the high level of demand. Good second quarter 2015 is the result of a solid performance from manufacturing teams, supported by the strong backlog and positive industry dynamics. Lower activity levels within the energy sector is affecting demand in certain product segments, but the direct impact of the lower Canadian dollar and lower fuel costs supports demand in other product lines.

For the first six months of 2015, net income was $6.8 million, or $0.40 per share, compared with a net income of $3.5 million, or $0.21 per share for the corresponding period in 2014. Revenues for the first six months totaled $199.5 million, compared to $138.3 million for the corresponding period in 2014, representing an increase of 44.3%.