Ottawa – 29 August 2018 – BluMetric Environmental Inc. (TSX.V: BLM) is pleased to announce revenue of $8.4 million and net income of $65,000 for the third quarter of fiscal 2018, ended June 30, 2018.
“BluMetric is pleased with the completion of several key projects, including various commercial wastewater contracts and technically-challenging government projects, which contributed to a respectable increase in revenue this quarter while showcasing the unique combination of our agility and expertise,” said Scott MacFabe, CEO of BluMetric. “As we wrap up Q4 and move into Fiscal 2019, BluMetric continues to sharpen its competitive edge through innovation and by focussing on scaling revenues with existing clients while generating new business in strategic areas.”
BluMetric made solid operational advances in Q3, targeting resources and business development activities where the Company excels and sees the strongest potential for meaningful long-term growth. During the quarter the Company achieved the following key successes:
BluMetric is committed to enhancing the elements of its business that set it apart and solidify its competitive advantage. These include the Company’s capacity for innovation as well as its ability to meet client needs through a creative process that involves a focus on the prevention of problems. Combined with the Company’s ability to collaborate across a unique combination of disciplines, which clients benefit tremendously from, these differentiators are core to positioning BluMetric for growth.
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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