OTTAWA, Dec. 21, 2012 /CNW/ - BluMetric Environmental Inc. (TSXV: BLM)
("BluMetric" or the "Company") announces the following unaudited
results for the fourth quarter of 2012, and audited results for the
fiscal year ended August 31, 2012.
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| Three Months
August 31 | Ended | Year Ended
August 31 |
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| 2012 |
2011
| 2012 |
2011
|
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| $000 | $000 | $000 | $000 |
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Revenue
| 2,122 |
892
| 7,468 |
3,089
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Gross Margin
| 578 |
489
| 1,901 |
1,073
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Net Loss
| (406) |
(150)
| (940) |
(1,255)
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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 the Company's business. Revenues for the year grew by
approximately 141% and for the fourth quarter by 137% compared with the
same periods 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 take-over transaction with WESA Group Inc.
("WESA") immediately following which both entities amalgamated. The
foregoing 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:
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a professional services division focussed on environmental earth
sciences and engineering, contaminated site remediation, water resource
management, industrial hygiene, occupational health & safety, and
renewable energy. This division operates under the names "WESA",
"Envir-Eau", and "OEL-HydroSys".
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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
Forward-looking Statements
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.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. Some of the statements in this press
release, including those relating to the Company's 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.
SOURCE: BluMetric Environmental Inc.