Ottawa – January 29, 2018 – BluMetric Environmental Inc. (TSX.V: BLM) is pleased to announce revenue of $30.5 million and net income of $334,000 for the year ended September 30, 2017, marking its third consecutive profitable year.
BluMetric’s key-market focus and client-centred-service approach continue to strengthen the Company’s presence in its major segments: Mining, Food & Beverage, Industrial Wastewater, Military, Government (North), and Environmental Site Assessment (ESA).
“Our sales efforts will focus on North and Central America, which represent the geographic regions with the largest growth potential for BluMetric,” said Dan Scroggins, Interim CEO of BluMetric. “Our sector-specific sales focus has begun to show its effectiveness, and we will stay the course with that while we continue to build on the cost-containment and administrative improvements we have made in the past years. Our goal is not just to stabilize our business, but to focus on value-added solutions for our clients and build investor value for the future.”
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 before 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 team of industry experts serves clients in Canada, the United States, and Central America.
For more information, visit www.blumetric.ca, or please contact:
Dan Scroggins, Interim CEO
BluMetric Environmental Inc.
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.
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.