In a record quarter, the company witnessed revenues jump as bookings footed C$2.9 million for the quarter.
BIOREM (TSXV:BRM), cleantech company announced a 43 percent rise in revenues over the quarter, totaling C$6.3 million compared to C$4.3 million in the third quarter of 2018. The company currently has an order backlog valued at C$20 million.
As quoted in the press release:
“Revenues for the first nine months of the year have a set a record for the Company and net earnings are also in the top of the range for the first nine months of a year,” said Derek S. Webb, President and CEO. “While bookings of $3.9 million were lighter than in previous recent quarters this is largely due to timing and we expect significant booking in the fourth quarter to bring total 2019 bookings to an amount exceeding the 2018 bookings of $25.5 million. Some supply chain issues are likely to have a negative impact on fourth quarter revenues pushing some revenue into the first quarter of 2020.”
The Company’s working capital grew by $815,000 during the quarter to $10.3 million on September 30, 2019. Cash on hand decreased during the quarter to $5.3 million from $5.8 million on June 30, 2019. Earnings from operating activities generated $830,000 of cash but increased operating activities during the quarter resulted in $876,000 of cash being invested in non-cash working capital particularly a reduction in accounts payable and unearned revenue.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1741.38 | +0.98 | |
Silver | 19.21 | +0.02 | |
Copper | 3.44 | +0.03 | |
Palladium | 1930.93 | +14.94 | |
Platinum | 857.25 | +1.25 | |
Oil | 98.33 | -0.20 | |
Heating Oil | 3.44 | +0.03 | |
Natural Gas | 5.52 | +0.01 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.