Dec. 12 Trojan wins $21.2-million in contracts in three months
Ms. Diana Cunningham reports
TROJAN TECHNOLOGIES AWARDED MUNICIPAL WASTEWATER AND DRINKING ...
Trojan Technologies has been awarded contracts with a total value
of $21.2-million for municipal waste water and drinking water
ultraviolet disinfection systems during the three-month period ended
Nov. 30, 2002.
Of the $21.2-million contracts awarded during the three-month
period, contracts totalling $9.1-million were previously announced in
Stockwatch and contracts totalling $12.1-million are being
announced in Stockwatch today. Municipal waste water contracts
totalled $13.5-million and municipal drinking water contracts totalled
$7.7-million during the quarter.
Contracts for ultraviolet waste water disinfection equipment were
particularly strong in the United States, amounting to $8.5-million
during the quarter. The largest orders, representing $5-million of this
total, were awarded by two repeat customers -- Daytona, Fla., and
the Jefferson County Commission -- environmental services division
in Alabama. Both of these facilities are replacing existing chemical
disinfection with Trojan's ultraviolet technology.
The Daytona facilities are using ultraviolet equipment to treat waste
water for agricultural reuse. "We get eight million visitors to Daytona
every winter. Trojan's effective and cost-efficient technology has
allowed us to not only meet our city's needs, but also to preserve
our water resources. That is a huge environmental win," says
Dennis Colby, manager of water and waste water operations for
Daytona.
In the municipal drinking water disinfection market, North America
continues to gain momentum with $2.1-million in contract awards.
Trojan's newest product, the Trojan SwiftSC, for smaller
communities drinking water treatment, is achieving early success,
particularly in Canada.
"With growth in North America in both municipal drinking water
and waste water treatment markets combined with our record
backlog, we are off to a strong start," noted Trojan president and
chief executive officer Allan Bulckaert.
The company's order backlog at the end of the quarter stood at
$62.4-million, up from $60.1-million at the end of fiscal 2002 -- a
record level.
Change in year-end
Trojan also announced today that it is changing its year-end from
Aug. 31 to Dec. 31. "Most of the companies in our industry report
on a calendar year basis. We have decided to align our financial
reporting periods with our industry peers to better enable investors,
the financial community and Trojan's management to make
meaningful comparisons between our company and its peers," Mr.
Bulckaert explained. "In addition, with our acquisition program, we
have encountered additional complexity and costs by requiring each
of our acquired companies to change to an August year-end."
Trojan will report its financial results for the four-month year ending
Dec. 31, 2002, which will be a transition year. Accordingly, the
company will not be reporting its Nov. 30, 2002, results. Thereafter,
the company will report quarterly (for periods ending March 31,
June 30, Sept. 30 and Dec. 31).
(c) Copyright 2002 Canjex Publishing Ltd.
stockwatch.com |
