|Three Months Ended||Six Months Ended|
|Net income (loss)||(985)||(490)||(967)||(314)|
|Income (loss) per share||(0.03)||(0.02)||(0.03)||(0.01)|
HIGHLIGHTS OF THE QUARTER:
• Sales up almost 10% in the quarter and 15% in the six-month period with modest improvements to gross margins; • The second quarter, traditionally the Company's slowest, typically results in a loss. This year, the loss was less than
The second quarter of fiscal 2014, which is not exactly comparable to
the previous year's quarter as a result of BluMetric's change in fiscal
year end, reflects satisfactory revenue growth of almost 10% relative
to the equivalent period in fiscal 2013. The Company also reported
improvements in gross margins, for both the three- and six-month
periods, of 6.0% and 22.1%, respectively, in what is typically the
slowest period in the fiscal year for professional services activities.
Operating costs were higher than for the equivalent period in 2013,
successive staff and other reductions not yet being fully reflected in
overhead costs while severance costs were expensed at once rather than
over several quarters, resulting in a loss in both the quarter and the
six months of just under
"Our goal for this year has been to stabilize operations, increase
revenue beyond last year's
"At the same time, I would like to thank the staff and management of
BluMetric for their contributions through the past quarters," added
Woeller. "They have consistently worked to provide solutions without
additional compensation, and in the case of the executive accepted
reductions in salary. They have given BluMetric a real vote of
For additional information on these financial results, please refer to
the Company's filings at www.sedar.com.
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BluMetric, a cleantech company, delivers sustainable solutions to complex environmental issues. The Company serves clients in many industrial sectors, and at all levels of government, in
BluMetric operates through two divisions:
More information can be obtained at www.blumetric.ca.
This press release may contain forward-looking statements regarding
ongoing operations based on current expectations, forecasts and
assumptions which involve risks and uncertainties associated with our
business and the economic environment in which the business operates.
All such statements are made pursuant to the 'safe harbour' provisions
of, and are intended to be forward-looking statements under, applicable
Canadian securities legislation. Any statements contained herein that
are statements of historical facts may be deemed to be forward-looking
statements. By their nature, forward-looking statements require us to
make assumptions and are subject to inherent risks and uncertainties.
We caution our readers of this press release not to place undue
reliance on our forward looking statements as a number of factors could
cause actual results or conditions to differ materially from current
expectations. Please refer to the risks set forth in the Company's
continuous disclosure documents that can be found on SEDAR www.sedar.com. BluMetric does not intend, and disclaims any obligation, except as
required by law, to update or revise any forward looking statements
whether as a result of new information, future events or otherwise.