Kontrol Energy Reports 36% Quarterly Revenue Growth and provides Operational Update

Kontrol Energy (CSE:KNR) has announced quarterly revenue growth of 36 percent for the second quarter of 2017.
As quoted in the press release:

Revenues for Q2 were $1.56 Million compared to $1.15 Million in Q1. Year to date Q2 revenues were $2.7 Million.  The increase in revenue follows the acquisition of ORTECH Consulting Inc. (“ORTECH”) in February 2017, but does not reflect the acquisition of Efficiency Engineering Inc.  (“EE“) which was completed in August 2017.
“We are very pleased with the acceleration of revenues and EBITDA,” says Paul Ghezzi, CEO Kontrol Energy. “As we look forward from Q3 2017 and 12 months out we anticipate a continuation of increased revenue generation and EBITDA growth with the current acquisitions completed and the multiple potential acquisitions in various stages of due diligence.”
EBITDA before non-cash expenses for Q2 was break-even, which is in line with the Company’s performance expectations and business plan. Factoring in non-cash amortization expense of $104K, stock based compensation of $200K and finance expenses of $169K the Company reports a net loss of $467,185 for the three months ended June 30, 2017.
Operational Update
ORTECH
For more than 30 years, ORTECH has been a leader in Greenhouse Gas Measurement, Air Quality testing and Renewable Energy power consulting in Ontario. The anticipated operating revenue for the next 12 months is approximately in the range of $5.5 Million with net earnings of approximately $1 Million. The macro-economics of Greenhouse Gas emission and stack testing remain strong which benefits ORTECH’s ongoing revenues.
Efficiency Engineering
Since 1990, Efficiency Engineering Inc. (EE) has been providing technical assessment, financial assessment, detailed design, and management for building upgrade projects. EE work with customers to provide thorough and cost-effective energy auditing, monitoring & verification (M&V), energy project assessment, mechanical, electrical and renewable design, and LEED facilitation. EE will design and manage facility systems solutions, with emphasis on economic feasibility and energy savings.  The anticipated operating revenues for the next 12 months is in the range of $2.75 Million with $500,000 in net earnings.

Click here to read the full press release.