Enviro-Energy Corp. Releases On-target Second-Quarter Results, Third-Quarter Forecast
August 13, 2001 09:02:00 (ET)
SPOKANE, Wash., Aug 13, 2001 (BUSINESS WIRE) -- Enviro-Energy Corp. (ENGY, Trade) announced second-quarter sales of $1,173,861.
Third-quarter revenues are expected to meet plan at approximately $3,200,000, showing continued growth in sales and improvement in bottom-line performance. Three months ended June 30, Six months ended June 30, U.S. dollars 2001 2000 2001 2000 Revenues $1,173,861 $101,883 $1,579,766 $117,784 EBITDA (a) (30,857) (50,462) (97,860) (106,290) Net loss (296,165) (86,357) (461,964) (175,961) Loss per share (0.0013) (0.0038) (0.0035) (0.0077) (a) EBITDA is calculated after minority interests
Enviro-Energy Corp. ("the company") is pleased with results to expectations. The demands of predicting when revenues from acquisitions will accrue to the company, coupled with the unpredictable nature of contract commencement in environmental remediation, makes forecasting difficult and complex. Despite these complications, the company is experiencing continued growth and expansion, in accordance with forecasted parameters.
Merger and acquisition plans are being adjusted to enhance the company's sharpened focus on bio-mass remediation/electrical power generation, and brownfield development. The board of directors intends that company expansion will continue through a blend of acquisitions and internal growth. Management depth will continue to be increased through recruitment and acquisitions.
"Corporate fundamentals are becoming increasingly more substantial," reported Galen Loven, chairman of Enviro-Energy Corp. "Our sharpened focus on treating environmental waste generated by the agricultural industry, coupled with leveraging reclamation resources into brownfield development, provides a solid footing for growing asset values and sustained cash flows.
"These business sectors are enduring and critical to the economical health of this country. We believe that we have developed a grouping of proprietary technologies and deployment strategies positioning the company to take advantage of the opportunities and challenges so pronounced in these markets. As this year progresses, we expect to provide evidence of the viability of our strategy as well as ongoing developments in mergers and acquisitions."
Enviro-Energy Corp. is a consolidator and operator of environmentally related businesses. Acquisitions and internal growth focus on energy, air and water sectors. The company expects to sustain growth through its aggressive roll-up strategy, internal synergies and the deployment of its ENVIRO-ENERGY(c) systems throughout the world.
Forward-looking statements in this release |
