Ottawa – 30 May 2018 – BluMetric Environmental Inc. (TSX.V: BLM) is pleased to announce revenue of $7.7 million and net income of $169,000 for the second quarter of fiscal 2018, ended March 31, 2018.
“BluMetric is generating new business opportunities not only through a refined geographic focus but also through significant advances in research and innovation designed to take the Company to the next level,” said Scott MacFabe, CEO of BluMetric. “Through the provision of solutions for existing clients that are inventive and dependable, and the use of innovative technology to address emerging contaminants and to secure new clients moving forward, we are positioning ourselves for strong client-centric growth and the creation of solid value for shareholders in the longer term.”
BluMetric made solid operational strides during the quarter in line with a recent push in business development across key segments and a focus on uncovering and creating new opportunities through research and innovation. The Company is pleased to report several notable developments this quarter:
Following recent business model enhancements in support of a sector-specific sales strategy, BluMetric continues to strengthen the Company’s activities and presence in its major market segments: Mining, Food & Beverage, Industrial Wastewater, Military, Government, and Environmental Site Assessment and Remediation. In particular, the Company is positioning itself to participate more fully in a strong and revitalized mining sector through both geographic growth and the expansion of its service offerings.
In addition, BluMetric is focused on enhancing business development with a renewed emphasis on innovation and meeting long-term client needs through the creation of holistic solutions designed with the prevention of problems in mind. Leveraging industry experience and know-how gained off a track record that spans 40+ years, the Company sees this as a notable differentiator in terms of its value proposition and key to BluMetric’s positioning for growth moving forward.
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, gain or loss on sale of other assets, gain or loss on debt conversion, gain or loss on debt extinguishment, gain or loss 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 environmental consulting and engineered treatment systems company with expertise across disciplines and technologies that allow for the design and delivery of elegant solutions to environmental challenges. Headquartered in Ottawa, Ontario, BluMetric’s team of industry experts serves clients in Canada, the United States, and Central America.
For more information, visit www.blumetric.ca, or please contact:
Scott MacFabe, CEO
BluMetric Environmental Inc.
Vivian Karaiskos, CFO
BluMetric Environmental Inc.
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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