Business
BIOREM REPORTS THIRD QUARTER RESULTS AND DIRECTOR APPOINTMENT
BIOREM REPORTS THIRD QUARTER RESULTS AND DIRECTOR APPOINTMENT
About this update from Biorem Inc.
[{"type":"text","content":"\n\n\n\n Nov. 19, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nGUELPH, ON, Nov. 19 /CNW/ - BIOREM Inc. (TSX-V: BRM) ("Biorem" or "the\n Company") today announced its results for the three-month period ended\n September 30, 2010.  Biorem's complete 2010 third quarter financial\n statements and MD&A have been filed on SEDAR (www.sedar.com).\n\n\n"In Q3 of 2010, along with a Gross Margin improvement from the previous\n quarter, the Company generated cash of $232,000," said Peter Bruijns,\n President and CEO. "We are focusing a great deal of attention on\n generating positive cash flow from operations but also generating cash\n from our balance sheet through improvements to project management\n systems.  This effort is expected to result in reduced Unbilled\n Revenues and accelerated cash from Accounts Receivable."\n\n\nBookings year to date of 2010 were $14,500,000, which represents a 23\n percent increase from September 30, 2009.  The Company's current\n backlog is $12,131,000 as of the third quarter of 2010, up 16 percent\n in comparison to third quarter 2009.\n\n\nFinancial Summary:\n\n\n\n\n \n\n\n\nThree-months ended \nSeptember 30,\n\n\n\n\n\nNine-months ended \nSeptember 30,\n\n\n\n\n\n\n(in thousands of Canadian dollars, except percent and per share data)\n\n\n\n2010\n\n\n\n\n\n2009\n\n\n\n\n\n2010\n\n\n\n\n\n2009\n\n\n\n\n\n\nREVENUE\n\n\n$4,948\n\n\n$4,910\n\n\n$12,756\n\n\n$14,625\n\n\n\n\nGROSS PROFIT\n\n\n...