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BluMetric Delivers Continued Profitability in Q1 FY2019

Ottawa, Ontario--(Newsfile Corp. - March 1, 2019) - BluMetric Environmental Inc. (TSXV: BLM) is pleased to announce continued profitability for the quarter ended December 31, 2018, reporting revenue of $7.6 million and net earnings of $189,000.

Financial Highlights

"Building on strong annual results for FY2018, our first quarter of 2019 produced solid improvement in our net earnings and EBITDA as we improve the quality of our client portfolio," said Scott MacFabe, CEO of BluMetric. "By focusing on markets where we offer elite technical expertise and clients where we see the opportunity to develop deep, meaningful partnerships, we are laying the groundwork for solid success in coming quarters and positioning BluMetric for sound, sustained growth."

Operational Highlights

During the quarter, BluMetric continued to show operational improvements in its major business segments demonstrating the success of its FY2018 strategic alignment, which coupled with a refined focus involves targeting markets where the Company enjoys the strongest competitive positioning and sees the most potential for long-term development.

Outlook

Propelled by a more strategic approach to business and corporate development, BluMetric continues to build on its successes, strengthen its technical offerings and align its sales and marketing efforts.

Financial Summary


Three Months Ended
December 31, 2018
Three Months Ended
December 31, 2017

($000)($000)
Revenue7,6217,560
Gross profit1,6611,671
Gross margin %22%22%
Operating expenses 1,2591,422
EBITDA1429301
Earnings before provision for income tax267101
Deferred income tax expense78-
Net earnings189101
Earnings per share - basic0.01(0.00)
Earnings per share - diluted0.01(0.00)

 Note 1: EBITDA is a non-IFRS measure and is calculated as net income before interest expense, income taxes, depreciation, and amortization.

The full results are available at www.sedar.com.

About BluMetric Environmental Inc.

BluMetric Environmental Inc. is a publicly traded environmental consulting and engineered treatment systems company with expertise across disciplines and technologies that allow for the design and delivery of elegant solutions to environmental challenges. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves clients in Canada and the United States.

For more information, visit www.blumetric.ca, or please contact:

Scott MacFabe, CEO
BluMetric Environmental Inc.
Tel: 613.839.3053
Email: smacfabe@blumetric.ca   

Vivian Karaiskos, CFO
BluMetric Environmental Inc.
Tel: 613.839.3053
Email: vkaraiskos@blumetric.ca

Forward-Looking Statements

Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. The Company does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43182