BIOREM reports 2012 year-end results

About this update from Biorem Inc.

[{"type":"text","content":"\n\n\n\n\n\nGUELPH, ON, April 22, 2013 /CNW/ - BIOREM Inc. (TSX-V: BRM) (\"Biorem\" or\n \"the Company\") today announced its results for the three and\n twelve-month periods ended December 31, 2012. Biorem's complete fiscal\n 2012 year-end financial statements and MD&A have been filed on SEDAR (www.sedar.com).\n\n\n\"The first two quarters in 2012 were challenging and required the\n company to undertake a number of re-organization and re-capitalization\n measures which were implemented successfully. In parallel, our sales\n and marketing team benefited from new product innovation in growth\n markets such as biogas conditioning and industrial solutions which\n enabled the company to build strong sales at healthy margins into a\n backlog of $17.7 million entering 2013\" said Peter Bruijns, CEO. \"With\n new orders exceeding $18 million in 2012, improved margins and a\n stronger, leaner organization, we have significantly strengthened the\n position of the company for fiscal 2013.\"\n\n\nFINANCIAL HIGHLIGHTS:\n\n\nin '000's except earnings per share\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nThree-months ended\n\n\nTwelve-months ended\n\n\n \n\n\n \n\n\nDecember, 31\n\n\nDecember, 31\n\n\n \n\n\n \n\n\n2012\n\n\n2011\n\n\n2012\n\n\n2011\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nRevenue\n\n\n \n\n\n4,386\n\n\n3,448\n\n\n15,418\n\n\n12,045\n\n\nGross profit\n\n\n \n\n\n1,539\n\n\n533\n\n\n3,726\n\n\n2,869\n\n\nOperating  expenses\n\n\n1,048\n\n\n1,664\n\n\n4,099\n\n\n5,736\n\n\nEbitda*\n\n\n \n\n\n660\n\n\n(1,004)\n\n\n93\n\n\n(2,367)\n\n\nNet earnings (loss)\n\n\n \n\n\n316\n\n\n(1,196)\n\n\n(830)\n\n\n(3,369)\n\n\nEarnings( loss) per share\n\n\n0.02\n\n\n(0.11)\n\n\n(0.07)\n\n\n(0.28)\n\n\n* Earnings before interest, taxes and amortizaton, a non IFRS financial\n measure\n\n\n \n\n\nRevenues for the three-month period ended December 31, 2012 were\n $4,386,000 compared to $3,448,000 in the same period in the prior year\n representing an increase of $939,000 (27.2%).\n\n\nGross profit in Q4 was $1,539,000, a $1,006,000 (188%) increase from the\n $533,000 recorded in the fourth quarter of 2011. Total operating\n expenses (net of other income) for the quarter were $1,048,000 a 29%\n reduction from the operating expenses of $1,...

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