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BluMetric Environmental posts year end, Q4 results

Ottawa-based BluMetric Environmental Inc. (formerly Seprotech Systems Incorporated) has announced its 2012 fiscal year end and fourth quarter results.


Ottawa-based BluMetric Environmental Inc. (formerly Seprotech Systems Incorporated) has announced its 2012 fiscal year end and fourth quarter results.

 

 

Three Months
August 31 Ended

Year Ended
August 31

 
         
 

2012

2011

2012

2011

 

 

 

 

 

 

$000

$000

$000

$000

 

 

 

 

 

Revenue

2,122

892

7,468

3,089

 

 

 

 

 

Gross Margin

578

489

1,901

1,073

 

 

 

 

 

Net Loss

(406)

(150)

(940)

(1,255)

 

 

 

 

 

Loss per share

(0.01)

(0.00)

(0.01)

(0.02)

 

 

 

 

 

The fiscal year ended August 31, 2012 saw strong revenue growth in all segments of BluMetric’s business. Revenues for the year grew by approximately 141 per cent and for the fourth quarter by 137 per cent compared to the same period in 2011. A significant portion of the operating expenses incurred in the fourth quarter 2012 reflect non-recurring transaction costs related to the merger reported previously and described below.

Subsequent to the August 31, 2012 year end, on November 16, 2012, the company completed a reverse takeover transaction with WESA Group Inc., which created an amalgamation. The results do not reflect the results of WESA since the merger was completed after the end of the reporting period. For additional information on the merger and these financial results, please refer to the company’s filings at www.sedar.com.

About BluMetric

BluMetric is an integrated product and service organization providing solutions to complex environmental problems in Canada and abroad.  The Company serves clients in many industrial sectors, and at all levels of government, both domestically and internationally.

BluMetric operates through two divisions:

  • a professional services division focused on environmental earth sciences and engineering, contaminated site remediation, water resource management, industrial hygiene, occupational health and safety, and renewable energy. This division operates under the names “WESA”, “Envir-Eau”, and “OEL-HydroSys”.
  • a water & wastewater division providing both design-build and pre-engineered product solutions to clients’ water and wastewater treatment needs. This division operates under the names “WESAtech” and “Seprotech”.

More information can be obtained at www.blumetric.ca


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