MetaPower International, Inc. Increases 2009 Revenue by 39 Percent as Compared to 2008 as Stated on Pinksheets.comMarch 30, 2010 | |
|
LAS VEGAS--(PRIME NEWSWIRE)—March 30, 2010 – MetaPower International, Inc. (OTCPK: MTPR) is pleased to announce that the Company has posted its unaudited 2009 Year End financial report on Pinksheets.com. MetaPower International’s revenues for the year ending December 31, 2008 were $8,572,995, an increase of 39% over the previous year. The Company’s EBITDA for the year ending December 31, 2009 was $820,050 which was all generated from operations. This was very close to the company’s 2009 EBITDA goal of $850,000. MetaPower International continued to maintain their performance in 2009 despite the worldwide recession. The decrease in oil prices and the strength of the Canadian Dollar have made for a particularly challenging environment. The Presidents message accompanying the report outlines MetaPower’s year-end results, as well as the company goals for 2010 and our plans for participation in the public markets. "In the middle of the largest downturn in the economy since the great depression, we have been able to maintain our performance. We have continued to generate business and our current booked business is enough to sustain operations at or above the current annual level through 2011. In response to our Client’s cost reduction measures, we have been able to substantially reduce our cost and still maintain our profit margins. Earnings as a percentage of revenue were 9.5% in 2009 compared to 9.7% in 2008. We are committed to the long term. We have been in business since 1996 and we have had our share of successes as well as disappointments. We have had many important events in our history, few as significant as the invention of our patented UCoDA technology. We have been working for years to position UCoDA in the market place. Now we are ready. We have the business level needed to generate the funds we require to go to market with our VPP Product. The UCoDA - VPP platform is near completion. We look forward to reporting next year that 2010 has indeed been a banner year. About MetaPower International, Inc.: MetaPower International, Inc. is a technology and services firm originally founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to manage the changes necessary to successfully compete in the current environment. In today's world, business operations must be streamlined to meet the challenges of these turbulent economic times. This press release contains “forward-looking statements.” Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
Source: MetaPower International, Inc. |
|