MetaPower
International, Inc. Increases Q2 2009 Revenue by 28 Percent over Q2 2008
LAS VEGAS--(PRIME
NEWSWIRE)—September 24, 2009 – MetaPower International, Inc. (OTCPK: MTPR) is
pleased to announce that the Company has posted its unaudited Financial Report
for the second quarter of 2009 on Pinksheets.com. MetaPower International’s revenues for the
quarter ending June 30, 2009 were $2,178,345, an increase of 28% over Q2 2008
which were $1,700,029. Q2 2009
Revenues were essentially flat compared to Q1 2009 revenues of $2,160,701. Year to date revenues were
$4,339,046. The Company’s earnings
(EBITDA) for Q1 2009 were $223,835.
This was 12% less than Q2 2008 earnings and a 9.5% increase over Q1 2009
earnings of $204,355.
MetaPower International has been able to maintain their
revenues in the second quarter despite the troubled economic times. The Presidents message accompanying the
report outlines MetaPower’s first quarter results and discusses the measures the Company has taken to
maintain its oil sand business, decrease expenses, and increase cash
reserves. Mr. Allen also addresses
UCoDA 4.0 development as well as the status for its VPP
product.
"We have been able to
successfully weather the economic storm so far. We have received new business for our
clients which reflect how they value our services. While our renewed contracts have lower
margins the increased business and aggressive cost control have allowed us to
maintain our performance consistent with our plans. We have received contracts sufficient to
maintain the current performance through the end of the year and we are seeing
an increase in business opportunities.
As has been previously noted we are nearing the
end of our Financial Audit which has resulted in adjustment to entries in our
books. The numbers in the Q1 and Q2
2009 financial reports reflect these adjustment. We expect to release the results of the
audit in the not too distant future and do not expect significant adjustments in
our results. ” stated Ken Allen, President of MetaPower
International, Inc.
To view the entire unaudited
annual report, please go to http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=19544
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.
Contact:
For more information, please visit:www.metapower.com Or Call:Steve Ivy at 360-450-4209
Source: MetaPower International,
Inc.