Ottawa – February 28, 2017 – BluMetric Environmental Inc. (TSX.V: BLM), an Ottawa-based cleantech company, announced sales growth of 4% and net income of $228,000 in its unaudited results for the first quarter of fiscal 2017, ended December 31, 2016.
“We are pleased with the performance of BluMetric for the first quarter of 2017,” stated Roger Woeller, CEO of BluMetric. “Our team excels in each of the sectors that we support, and as each of these sectors evolves and expands, our unique services, products, and systems will continue to be well positioned to benefit.”
BluMetric is seeing exciting growth opportunities in projects in metals and mining, food and beverage, resource recovery, and government services. The Company will continue to build its business base in the Americas and will refine its special skills relating to the Arctic and remote and challenging environments. Our research and innovation efforts will lead to the commercialization of additional products which will be added to our existing offerings. The first two of these are expected to be introduced in the coming months.
|Three Months Ended
December 31, 2016
|Three Months Ended
December 31, 2015
|Gross margin %||20%||19%|
|Income per share -basic||0.01||0.00|
|Income per share -diluted||0.01||0.00|
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.
Neither 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.