Ottawa – May 30, 2016 – BluMetric Environmental Inc. (TSX.V: BLM), an Ottawa-based cleantech company, announces the following unaudited results for the second quarter of fiscal year 2016.
“We have continued to grow revenues in this, traditionally our weakest quarter,” said Roger Woeller, CEO of BluMetric. “The results of this quarter are a testament to a strong performance by our professional services practice. Our reorganized sales organization, oriented to key industry verticals, is showing positive potential for increased revenues, and our robust operations group, with its focus on taking work with good margins and then maintaining those margins, has helped to produce an overall gross margin for the quarter of 24%, the highest in recent record. In sum, we are pleased with this quarter, yet still see room for improvement, especially in the supply of engineered systems and products and services.”
With its concentrated attention on identified strategic growth areas such as energy, the north, food processing services, and groundwater monitoring and assessment, BluMetric is reinforcing its business base while expanding into new areas with strong margin potential in which it has significant or unique expertise. We continue to emphasize controlling costs and building margins.
Note 1: EBITDA is a non-IFRS measure and is calculated as net income before interest expense, income taxes, depreciation and amortization.
Note 2: Adjusted EBITDA is a non-IFRS measure and is calculated as EBITDA, gain or loss on foreign exchange, stock based compensation, gain or loss on sale of property plant and equipment, unrealized gains on investments held for sale and impairment of goodwill.
For additional information, please refer to the Company’s filings at www.sedar.com.
BluMetric Environmental Inc. is a diverse water, earth, and energy company providing solution-oriented consultation, design, products, and construction services to clients with complex environmental issues in more than 61 countries. With our award-winning team of industry experts and technology, BluMetric provides the finest effective and sustainable solutions to environmental challenges. BluMetric is a publicly traded Canadian company (TSX-V: BLM), headquartered in Ottawa, Ontario. For more information, visit www.BluMetric.ca.
For further information, please contact:
Roger Woeller, CEO
BluMetric Environmental Inc.
Tel: 613.839.3053 x242
Robin M. Sundstrom
IRonside Investor Relations
Some of the statements in this press release, including those relating to the Company’s quarterly and annual results, future products, opportunities and cost initiatives, strategies and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company’s expectations, estimates, and projections regarding future events. The Company does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events, except as required by law.
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