Questor Technology Reports Record First Quarter Results

Questor Technology (TSXV:QST), a cleantech company focused on providing clean combustion solutions announced record first quarter financial results. Revenue increased 29 percent to C$7.7 million over the quarter, as the company increased sales rentals 127 percent over the quarter.

As quoted in the press release:

Revenue increased 29% during the three months ended March 31, 2019 versus the same period of 2018:

• Equipment sales increased 127% from $1.1 million to $ 2.5 million. The Company achieved certain contract milestones and recognized $1.8 million of sales revenue related to the Mexico contract previously announced on January 7, 2019;

• Revenue from incinerators rentals increased 3% from $4.3 million to $ 4.5 million. The Company reduced both customer and market concentration by expanding into North Dakota;

• Service revenue increased 36% from $0.6 million to $ 0.8 million as result of activity in the North Dakota market.

Click here to read the full press release.