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BluMetric Environmental (TSXV:BLM), an Ottawa-based cleantech company, announces the following results, unaudited for the fourth quarter of 2016, and audited for the fiscal year ended September 30, 2016. In the fourth quarter, the Company posted a small loss of $0.1 million on revenue of $7.3 million, while the year’s results showed a profit of $0.6 …
BluMetric Environmental (TSXV:BLM), an Ottawa-based cleantech company, announces the following results, unaudited for the fourth quarter of 2016, and audited for the fiscal year ended September 30, 2016. In the fourth quarter, the Company posted a small loss of $0.1 million on revenue of $7.3 million, while the year’s results showed a profit of $0.6 million on revenue of $31.5 million.
As quoted in the press release:
“BluMetric’s Professional Services group has performed well, increasing revenues and profitability in spite of challenges faced in some of its markets. Within our Water Systems group, we experienced a decline in revenues, mainly related to timing of engineered solutions projects” said Roger Woeller, CEO of BluMetric. “With anticipated growth, revenue from this area will be less susceptible to swings. I am pleased with the leadership and efforts shown by our people this past year.”
Financial Highlights
