Bennett Environmental Inc. Announces Q2 Results
(firmenpresse) - OAKVILLE, ONTARIO -- (Marketwire) -- 08/10/11 -- Bennett Environmental Inc. (TSX: BEV) (the "Company" or "BEI") today announced its results for the three month period ending June 30, 2011. There was no revenue for the quarter as the Saint Ambroise facility remained closed in order to accumulate a stockpile of soil inventory. Net loss was $4.3 million and loss per share was $0.11 on a fully diluted basis. During the quarter the Company incurred expenses of $2.3 million in connection with the proxy contest with Second City Capital. Had these costs not been incurred, the net loss would have been $2.0 million.
Commenting on the results, Mr. Lawrence Haber, President and CEO, stated "Current inventory levels represent approximately two and one-half months of processing. Operating costs are controlled and consistent with expectations.
The Company's Board of Directors is in the process of positioning the Company for the future, and is united in its view to enhance the value of the Company for the benefit of the Company's shareholders and other stakeholders. The transitioning of the Company and its strategic focus has been started and is underway. The Board plans to take a broad view of the opportunities available to the Company, which will include but not be limited to, the environmental sector. The Board and CEO will seek to source, structure and complete one or more transactions, designed to create meaningful value for shareholders.
With respect to its core soil remediation business, Bennett is continuing to concentrate on building sustainable growth and shareholder value through an ongoing focus on cost controls and securing orders for soil treatment by building new relationships with key market players and decision makers in treatment projects."
The Company also made the following comments on its results, with fuller discussion in the Management Discussion and Analysis available on and Interim condensed consolidated Financial Statements available on http://media3.marketwire.com/docs/BennettIFSQ211.pdf.
This report may contain forward-looking information that is subject to risks, uncertainties and assumptions. Such information represents our current views based on information as at the date of issuing this report. We do not intend to update this information and disclaim any legal obligation to the contrary.
Forward Looking Statements
Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "confident", "plan" and "intends" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. BEI believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. BEI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Bennett Environmental Inc.
Bennett Environmental Inc. is a North American leader in high temperature treatment services for the treatment of contaminated soil and has provided thermal solutions to contamination problems throughout Canada and the U.S. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America. For information, please visit the Bennett Environmental website at: .
These interim condensed consolidated financial statements do not include accompanying notes. A complete set of interim condensed consolidated financial statements including notes is available on .
Contacts:
Bennett Environmental Inc.
Lawrence Haber
(905) 339-1540
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Datum: 10.08.2011 - 18:05 Uhr
Sprache: Deutsch
News-ID 44784
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OAKVILLE, ONTARIO
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Hazadous Materials Management
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