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CEO's Letter Provides Year-End Progress Report to Shareholders of Thermal Energy International
(via TheNewswire) OTTAWA, ONTARIO / TheNewswire / June 21, 2018 - Thermal Energy ...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"CEO's Letter Provides Year-End Progress Report to Shareholders of Thermal Energy International(via TheNewswire)\n \n \nOTTAWA, ONTARIO / TheNewswire / June 21, 2018 - Thermal Energy International Inc. (\"Thermal Energy\" or the \"Company\") (TSXV: TMG), a global provider of industrial and institutional energy efficiency solutions, would like to provide a corporate update to shareholders from its CEO, William Crossland. \n\n \n \nCEO Letter to the Shareholders of Thermal Energy International: \n\n\n \nA Progress Report at the End of Fiscal 2018\n\n \n \nWith fiscal 2018 having come to a close, I wanted to take the opportunity to reflect on all that we have done over the past year, as it was a banner year in more ways than one. While we won't be reporting our fiscal 2018 year-end financial results for a few more months, there are many accomplishments, and a lot of progress to talk about at this time.\n\n \n \nWe've spent the last several years growing our business, our client base, and our teams. Not only are we continuing to do so, but we are beginning to see real results, as evidenced by the solid revenue growth reported for the first nine months of fiscal 2018, the receipt of the largest order in our history subsequent to this past December, and our order book reaching (and remaining near) an all-time high.\n\n \n \nGrowing our team\n\n \n \nNot being a capital intensive business, the key to organic growth has been, and continues to be, growing and investing in our team and enhancing our products. However, given the long sales cycle for our products and the technical nature of our sales process, new sales team members in particular take a considerable amount of time (one to two years) to ramp up and start meeting expectations. As a result, each year Thermal Energy's board and management team carefully assess the company's actual and expected profitability and cash flow, then strategically and deliberately take a portion of those profits and reinvest them in the future growth of the business by, among other things, adding to our team and developing new products, product enhancements or markets. \n\n \n \nIn each of the last two years we have invested an average of an additional $350,000 in the future growth of our business primarily in the form of adding additional sales and technical team members. That is, we believe the invest...