Ottawa – August 29, 2016 – BluMetric Environmental Inc. (TSX.V: BLM), an Ottawa-based cleantech company, announces the following unaudited results for its third quarter, ended June 30, 2016.
Revenues in the quarter were $8.4 million with net income of $371,000, or $0.01 per share fully diluted. Gross margins were slightly lower in the quarter versus the same quarter in the prior year. Adjusted EBITDA margins improved to 9.3% from 7.2%.
“Our Professional Services group continues to grow revenues and reduce costs, as does our Military group, both of which benefitted our Company this quarter, which saw a weaker Engineered Solutions group performance,” said Roger Woeller, CEO of BluMetric. “Our business pipeline is expanding in our identified strategic growth areas, which include the North, mining, food and beverage, and infrastructure replacement/development.”
Trends are encouraging as we move through our final quarter of fiscal 2016. BluMetric will continue to build on its business base and revenues with new solutions in high-margin areas.
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.
The full results are available at www.sedar.com.
BluMetric Environmental Inc. is a publicly traded cleantech company with a portfolio of industry-leading products, processes, and services in the environment sciences and engineering sectors. We take pride in our strong record of providing sustainable solutions to the world’s environmental challenges. Headquartered in Ottawa, Ontario, BluMetric’s award-winning team of industry experts serves clients in Canada, the United States, and Central America.
For more information, visit www.BluMetric.ca, or 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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