BluMetric announces second quarter fiscal 2013 results

About this update from Blumetric Environmental Inc.

[{"type":"text","content":"\n\n\n\n\n\nOTTAWA, April 29, 2013 /CNW/ - BluMetric Environmental Inc (TSXV: BLM)\n (\"BluMetric\" or the \"Company\") announces the following unaudited\n results for the three and six months ended February 28, 2013, with\n comparative unaudited results for the equivalent periods in fiscal\n 2012.\n\n\n\n\n\n\n\n \n\n\nThree Months  Ended\nFebruary 28\n\n\n \n\n\nSix Months Ended\nFebruary 28\n\n\n\n\n \n\n\n2013\n\n\n2012\n\n\n \n\n\n2013\n\n\n2012\n\n\n\n\n \n\n\n$000\n\n\n$000\n\n\n \n\n\n$000\n\n\n$000\n\n\n\n\nRevenue\n\n\n6,024\n\n\n4,486\n\n\n \n\n\n12,364\n\n\n11,426\n\n\n\n\nGross margin\n\n\n1,079\n\n\n635\n\n\n \n\n\n2,489\n\n\n1,950\n\n\n\n\nNet loss\n\n\n(490)\n\n\n(395)\n\n\n \n\n\n(241)\n\n\n(822)\n\n\n\n\nLoss per share\n\n\n(0.22)\n\n\n(0.64)\n\n\n \n\n\n(0.01)\n\n\n(1.31)\n\n\n\n\n\n\n\n\nRevenue and gross margins for the quarter were improved over 2012\n results, reflecting the full consolidation of operating results\n following the previously reported amalgamation of WESA Group Inc. with\n BluMetric (formerly Seprotech systems Incorporated) in November, 2012.\n Contributions to revenue growth during this period were largely\n attributed to the Water Division, this quarter being a traditionally\n slower period for the Professional Services Division.\n\n\nIncreased operating expenses for the quarter largely reflect the\n inclusion of expenses attributable to the former Seprotech Systems\n Incorporated, the incremental costs associated with being a public\n company, and non-recurring expenses arising in connection with the\n amalgamation, such as re-branding and communication costs. The net loss\n of $490 in the quarter and $241 for the six-month period shows a\n comparative improvement over the same periods in fiscal 2012, and is in\n line with management's expectations.\n\n\n\"The small loss for the period is consistent with historical trends,\n which reflect a degree of seasonality in the Professional Services\n business over the holiday season and through the winter months,\" said\n William Touzel, CEO. \"We are pleased with the progress being made in\n integrating the two companies following their amalgamation last\n November, and we anticipate continuing growth through the coming\n quarters.\"\n\n\nAbout BluMetric\n\n\nBluMetric delivers sustainable s...

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