Business
/R E P E A T -- PyroGenesis Announces: Revenues Increase by 46%, Gross Margins Exceed 57%, Net Worth >$3MM; Positive EBITDA (Adj.), Record Backlog exceeds 300% of 2013 Revenues; for Second Quarter 2014/
MONTREAL , Aug. 29, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. ( http://pyrogenesis.c...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Aug. 29, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® company, a world leader in the design,\n development, manufacturing and commercialization of advanced plasma\n processes, today announced its financial and operational results for\n the second quarter of fiscal 2014, ending June 30, 2014 (\"2014-Q2\").\n\n\nSecond Quarter Highlights\n\n\nDuring the second quarter of 2014, PyroGenesis has:\n\n\n\nIncreased Revenues by 46% to $1,958,534;\n\n\nIncreased Backlog to a record level of 17.6MM or more than 300% of 2013\n annual revenues;\n\n\nIncreased Gross Margins to 57.4%;\n\n\nPosted positive EBITDA (adjusted) of $138,262;\n\n\nSigned, and commenced work, on a $12.5MM contract to design and\n manufacture 10 plasma-based powder production systems for 3D printing\n industry;\n\n\nCompleted a private placement for gross proceeds of $3.5MM, and\n completed a debt-to-equity conversion, with a related party, whereby\n $6.0MM of debt was converted to equity at .80/share;\n\n\nSuccessfully repositioned the Company by supplying plasma processes to\n an expanded client base including the Oil and Gas, Mining and\n Metallurgical, and Advanced Materials (3-D Printing) industries.\n\n\n\nPyroGenesis' strategic entree into new high-margin market niches is\n translating into significant orders for its plasma processes and\n engineering services as evidenced by the level of new business activity\n and historic backlog of signed contracts. These results validate\n management's strategic decision to reposition the Company by\n introducing its plasma processes into new high-margin markets and\n embarking on the largest business development push in the Company's\n history.\n\n\nFinancial Highlights\n\n\n\n\n\n\n\n \n\n\n  \n\n\nThree months ended June 30,\n\n\n \n\n\n%\n\n\n \n\n\n \n\n\nSix months ended June 30,\n\n\n \n\n\n%\n\n\n\n\n \n\n\n \n\n\n2014\n\n\n \n\n\n \n\n\n2013\n\n\n \n\n\nChange\n\n\n \n\n\n \n\n\n2014\n\n\n \n\n\n \n\n\n2013\n\n\n \n\n\nChange\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n ...