Ottawa – 28 January 2019 – BluMetric Environmental Inc. (TSX.V: BLM) is pleased to announce its fourth consecutive profitable year.
“BluMetric made significant operational strides across all our major business segments in Fiscal 2018 through the adoption of a key-market focus and by targeting professional resources where we excel, which includes an emphasis on technology and innovation,” said Scott MacFabe, CEO of BluMetric. “As a result, we are creating strategic opportunities not only through new business development but also through deeper relationships with existing clients thanks to the unique combination of our technical sophistication and agility.”
BluMetric’s improved operational and financial performance in FY2018 was primarily driven by the completion of a strategic re-alignment designed to narrow both its geographic and business segment focus to the following areas in which it enjoys market leader positioning and sees the potential for sustained, long term growth: (1) Mining, (2) Military, (3) Government, and (4) Commercial and Industrial.
With a continued emphasis on strengthening its technical service offerings, during the year the Company made significant advances in each of these key markets propelled by the adoption of a more strategic approach to business and corporate development that includes actively leveraging past successes to expand and diversify client partnerships and service offerings.
BluMetric has refocused and aligned its sales and marketing team for Fiscal 2019 in order to focus on obtaining new revenue contracts in its key markets while efficiently implementing projects, improving cost controls and completing the sale of its non-core assets. The Company will continue to hone its competitive stance through research and innovation and by positioning BluMetric for strong client-centric growth, which means scaling business not only through new customer generation but also through its existing client base with the provision of high quality, inventive solutions created with the prevention of problems in mind.
Note 1: EBITDA is a non-IFRS measure and is calculated as net income before interest expense, income taxes, depreciation, and amortization.
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 and the United States.
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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