LiqTech International, Inc. Reports 2011 Fiscal Year-End Results
(firmenpresse) - GENTOFTE, DENMARK -- (Marketwire) -- 03/26/12 -- LiqTech International, Inc. (OTCQX: LIQT) (PINKSHEETS: LIQT) ("LiqTech") announced today its financial and operational results for the last 12 months.
Net sales for the year ended December 31, 2011 were $21,192,177 compared to $15,728,817 for the year ended December 31, 2010, representing an increase of $5,463,360 or 35 percent
Gross profit for the year ended December 31, 2011 was $5,027,811 compared to $3,673,844 for the year ended December 31, 2010, representing an increase of $1,353,967 or 37 percent
Net income attributable to the Company for the year ended December 31, 2011 was $917,211 compared to a loss of $6,629 for the year ended December 31, 2010, representing an increase of $923,840
Net sales for the three month period ended December 31, 2011 were $7,639,431 compared to $3,267,640 for the same period in 2010, representing an increase of $4,371,791 or 133.8 percent.
Gross profit for the three month period ended December 31, 2011 was $1,712,559 compared to $607,090 for the same period in 2010, representing an increase of $1,105,469 or 182.1 percent.
Net income attributable to the Company for the three month period ended December 31, 2011 was $538,968 compared to a loss of $269,510 for the comparable period in 2010, representing an increase of $808,478
Company completed reverse merger with Blue Moose Media, Inc.
Company entered into an alliance with Scandinavian Brake Systems; Company expands production capacity of diesel particulate filters from 400,000 liters to 1,400,000 liters
LiqTech Pte Ltd was established as a majority owned company of Liqtech International A/S, and will service the South East Asian markets covering the entire LiqTech product portfolio
Company uplists on the OTC market's highest tier, OTCQX®
LiqTech issued 2,511,500 shares of its common stock in a registered direct placement of its shares at a per share price of $3.25 with net proceeds to LiqTech from the initial closing of approximately $7.4 million
"This has been a very exciting year for everyone at LiqTech. During 2011, we became a public Company, significantly increased our revenues and product offerings, and most importantly increased our bottom line profit numbers by more than $900,000. In addition, we have successfully expanded our DPF business, established an office in South East Asia, uplisted our securities to trade on the highest level the OTC Market offers and successfully raised capital to continue to grow our business. We are pleased with the Company's performance while we continue growing and expanding into new markets," concluded Mr. Andreassen.
LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly, highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. It also manufactures kiln furniture. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide membranes which facilitate new applications and improve existing technologies. For more information, please visit .
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.
DC Consulting, LLC
407-792-3332
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Datum: 26.03.2012 - 12:09 Uhr
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News-ID 128255
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