WINNIPEG, MANITOBA -- (Marketwired) -- 05/25/15

Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited consolidated financial results for the first quarter ended March 31, 2015. The unaudited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at www.sedar.com or at www.empind.com.

Summary of the First Quarter 2015 results

--  Revenues decreased by $0.5 million, or 1.5% (to $33.2 million from $33.7
    million in first quarter 2014) 
--  Adjusted EBITDA decreased by $0.9 million, or 36% (to $1.5 million from
    $2.4 million in first quarter 2014) 
--  Net Loss, after taking into consideration an unrealized loss on forward
    foreign exchange contracts of $1.9 million, was $0.9 million, versus net
    income of $1.2 million in first quarter 2014 
--  The non-cash unrealized foreign exchange loss of $1.9 million in the
    quarter compares to a loss of $0.6 million in the comparative period
    relating to outstanding forward foreign currency instruments. This loss
    resulted from the significant decline of the Canadian dollar incurred
    during the period as compared to the rates negotiated in the underlying
    contracts.  
--  Net Loss was $0.003 per share, versus net income per share of $0.005 in
    first quarter 2014 
--  Backlog of $195 million at March 31, 2015, up from $155 million at
    December 31, 2014 

For the quarter and year ended March 31

                                                                  Q1      Q1
  ($millions except share price and per share amounts)          2015    2014
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  Financial Results                                                         
  Revenue                                                       33.2    33.7
  Adjusted EBITDA ($)1                                           1.5     2.4
  Net income (loss) from all operations, after unrealized                   
   foreign exchange loss of ($1.9 million; $0.6 in 1st                      
   quarter 2014)                                                (0.9)    1.2
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Financial Position (at March 31)                                            
  Total assets                                                  74.5    49.3
  Long-term debt (including current portion)                     2.9     3.5
  Shareholders' equity                                          21.1    16.6
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Per Share Information                                                       
  Income per share (Basic)                                   $(0.003) $0.005
  Income per share (Diluted)                                 $(0.003) $0.005
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1 Adjusted earnings (loss) before interest, tax, depreciation and           
amortization (Adjusted EBITDA) is not defined by IFRS. The definition of    
Adjusted EBITDA does not take into account the Group's share of profit of an
associate investment, gains and losses on the disposal of assets, fair value
changes in foreign currency forward contracts and non-cash components of    
stock based compensation. While not IFRS measures, Adjusted EBITDA is used  
by management, creditors, analysts, investors and other financial           
stakeholders to assess the Group's performance and management from a        
financial and operational perspective.                                      

"The first quarter was negatively influenced by tighter margins on steel fabrication work and lower sales of hydrovac trucks both of which are reflective of a challenging economic environment in Alberta. The Media Based Attractions had a good quarter, and was similar to the first quarter of 2014," said Guy Nelson, CEO. " I expect our Media Based Attractions to continue to strengthen as we work through our record backlog and to offset the headwinds we expect to continue to feel in our domestic businesses operating in Alberta."

About Empire Industries Ltd.

Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company has developed, designed and engineered products for the rapidly growing, global, media based attractions market. The company also manufactures and sells hydrovac trucks and provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company also has two key strategic equity partnerships; a 49% ownership of ACE Industrial Services that operates in the oil sands industrial maintenance services market, and a 45% ownership of a Chinese joint venture company in the steel fabrication market in Asia. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.

For more information about the Company, visit www.empind.com.

Reader Advisory

This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws. Neither the 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.

Contacts:
Empire Industries Ltd.
Guy Nelson
Executive Chairman & CEO
(416) 366-7977
gnelson@empind.com

Empire Industries Ltd.
Allan Francis
VP Corporate Affairs & Administration
(204) 589-9301
afrancis@empind.com