BALLERUP, Denmark, Jan. 6, 2015 /PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech") reports that the Company's revenue and net earnings were below expectations in the fourth quarter - 2014.

Mr. Sune Mathiesen, LiqTech CEO, remarked, "Our revenue and net earnings for the fourth quarter 2014 were less than anticipated and not in line with the progress we made in the third quarter. We expect that fourth quarter revenues will be in the range of $2,200,000 to $2,700,000. The shortfall is primarily as a result of the delayed implementation of several significant projects in the swimming pool and oil markets, which we expected to realize in the fourth quarter - 2014 but were delayed for reasons beyond our control. We expect that the delayed projects will now be realized in the first and second quarters of 2015. The shortfall is also the result of decreasing prices in the oil market which has caused potential customers to delay planned projects. While low oil prices have created headwinds with some of our customers, we believe that we have made recent progress in some areas despite the headwinds, and in addition, we have implemented a targeted sales strategy to diversify our sales efforts into other end markets as discussed in previous earnings calls."

Mr. Mathiesen further commented, "We are clearly not pleased with the fourth-quarter results. One factor in the disappointing results, in addition to delayed projects, was the time and effort that the management team dedicated to integration of the Provital acquisition. We believe these efforts are largely completed and have been very successful; however, the time and effort dedicated to integration naturally resulted in some cost to our sales efforts in the second half of the year. Looking forward, we are encouraged by our current order intake and recent breakthroughs in several business areas. We expect to see revenue improvement in the first and second quarters - 2015 and we will continue our hard work for growth and profitability."

ABOUT LIQTECH INTERNATIONAL, INC. (NYSE MKT: LIQT)

LiqTech International, Inc., a Nevada corporation, is a clean technology company that develops and supplies proprietary silicon carbide filtration technologies for gas and liquid purification. LiqTech's highly specialized nanotechnology silicon carbide liquid membranes and filters are used primarily for water purification/filtration and for the control of soot exhaust particles from diesel engines. LiqTech also supplies small-scale, integrated water filtration systems for the swimming pool and large water park market segments through its Provital brand, using its proprietary silicon carbide filter technology and offering customers a new standard for higher water quality. For more information, please visit www.liqtech.com.

ABOUT PROVITAL SOLUTIONS A/S

Provital Solutions A/S is a Danish company headquartered in Hobro, Denmark. Provital has developed the "Provital Filtration System," a new standard of water filtration technology to meet the increasing demand for higher water quality. The employees of Provital are highly experienced within the field of water filtration. Provital's filtration systems are designed for local public swimming pools or large water parks and achieve a higher standard for water treatment technology by incorporating advanced LiqTech silicon carbide liquid filtration membranes that offer significantly higher flux as compared to other filter types. The Provital System focuses on the reduction of water use in back washing and reduced energy consumption, chlorine use, and maintenance expense. For more information, please visit www.provital.dk/.

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Forward-Looking Statements

This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

CONTACT:

Wolfe Axelrod Weinberger Associates, LLC
Stephen D. Axelrod, CFA/Donald C. Weinberger
(212) 370-4500, (212) 370-4505 fax
steve@wolfeaxelrod.com, don@wolfeaxelrod.com

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SOURCE LiqTech International, Inc.