Ottawa – May 30, 2017 – BluMetric Environmental Inc. (TSX.V: BLM), an Ottawa-based cleantech company, announced sales of $7.2 million and net income of $90,000 in the unaudited results for its second quarter ended March 31, 2017.
Historically, a substantial portion of the business generated by Professional Services has come from the mining sector, which has been rebounding for the past three quarters. As a result, Professional Services has seen increased activity in this vertical.
Creative collaboration between Professional Services and Water Systems recently resulted in an order for new technology with an established client. BluMetric sees opportunities for this type of business development in the coming quarters in mining, as well as in other traditional verticals.
The mining sector is also showing increased interest in the Company’s ammonia reduction systems (MARS), which was the core technology in a recent contract. The patent-pending MARS technology is also applicable to the Food & Beverage vertical, where the Company is currently pilot testing the product in different applications. Pilot tests on landfill leachate have proved the viability of the product in what has been identified as another emerging and growing market.
“BluMetric’s products and services have been developed to address specific client needs, which are partially driven by environmental regulations,” said Roger Woeller, CEO of BluMetric. “The Company has developed and delivered expertise and technology that reduce its clients’ operating and capital costs, which differentiates BluMetric from its competitors and is part of the Company’s strategy for future growth. As part of this strategy, BluMetric continues to evaluate potential partnerships with the suppliers of complementary technologies, innovative products, and cost-effective services to add value to our solutions.”
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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