Bennett Environmental Inc. Announces Q3 Results
(firmenpresse) - OAKVILLE, ONTARIO -- (Marketwire) -- 11/14/11 -- Bennett Environmental Inc. (TSX: BEV) (the "Company" or "BEI") today announced its results for the three month period ended September 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 $1.7 million and loss per share was $0.04 on a fully diluted basis.
Commenting on the results, Mr. Lawrence Haber, President and CEO, stated "Operating costs are controlled and consistent with expectations."
As previously announced, the Company has accumulated approximately 20,000 tonnes of untreated soil at the end of September, 2011 and has not recorded any revenue related to this soil in inventory. An additional 24,000 tonnes is expected to be received from various jobs which have been awarded but not shipped. Processing of the above soil is expected to commence during the first quarter of 2012.
For each of these contracts awarded, the tonnage amounts are approximate, and in each case there is no commitment on the part of the client with respect to the amount of material that will be shipped under the contract, or the timing of these shipments. Actual amounts shipped may be more or less than the estimated amounts.
Regarding corporate strategy, Mr. Haber stated "The Board continues to take a broad view of the strategic opportunities available to the Company, including but not limited to, the environmental sector. The Board seeks to source, structure and complete one or more transformative transactions, designed to create meaningful value for shareholders."
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/BEVSeptember302011FS.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: .
Contacts:
Bennett Environmental Inc.
Lawrence Haber
President and CEO
(905) 339-1540 Ext. 202
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Datum: 14.11.2011 - 19:40 Uhr
Sprache: Deutsch
News-ID 87659
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OAKVILLE, ONTARIO
Kategorie:
Air Pollution Control
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