BioteQ Environmental Technologies Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Guidance for the Year 2013
For the year 2013, the company is targeting to grow revenue in 2013, on a proportionate revenue basis, by 25% over 2012 to approximately CAD 11.8 million (between CAD 5.5 and CAD 6.5 million on a GAAP equity accounting basis). Proportional Revenue growth is expected to be generated from: the completion of plants currently under construction at the Dexing site; large scale piloting campaigns with customers in North and South America; plant sales; and engineering and technical development projects. The company is targeting to improve its adjusted LBITDA by approximately 50% to less than CAD 1 million from CAD 1.9 million in 2012. The projected improvement in adjusted EBITDA is expected to come from additional margin generated from increased sales revenues and from continued improvements in the efficiency of operating and engineering activities.