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Pure Technologies Ltd. announces results for third quarter ended September 30, 2009

^{Published on 2009-11-09 14:21:44 - Market Wire}
 

 2009 Q3 Financial Highlights (unaudited) Consolidated Three months ended: Nine months ended: Statement of September September September September Operations 30, 2009 30, 2008 30, 2009 30, 2008 ------------------------------------------------------------------------- Equipment sales $ 680,000 $ 2,610,000 $ 9,279,000 $ 10,151,000 Inspection services 783,000 372,000 2,472,000 2,175,000 Consulting services 1,323,000 1,139,000 4,257,000 2,068,000 Monitoring & technical support 1,092,000 607,000 2,799,000 1,756,000 ------------ ------------ ------------ ------------ Total revenue 3,878,000 4,728,000 18,807,000 16,150,000 Cost of sales 1,268,000 2,091,000 5,945,000 6,216,000 Marketing 983,000 768,000 3,066,000 2,295,000 Engineering and operations 922,000 592,000 2,751,000 1,380,000 General and administrative 1,471,000 1,441,000 4,582,000 3,525,000 Research and development 451,000 201,000 1,033,000 898,000 Depreciation and amortization 356,000 281,000 1,006,000 820,000 Foreign exchange (gain) loss 704,000 20,000 1,298,000 248,000 Interest income (22,000) (99,000) (78,000) (296,000) ------------ ------------ ------------ ------------ Income (loss) from continuing operations before tax (2,255,000) (567,000) (796,000) 1,560,000 Income taxes 35,000 68,000 63,000 81,000 ------ ------ ------ ------ Net income (loss) (2,290,000) (635,000) (859,000) 1,479,000 Income (loss) per share - basic $ (0.07) $ (0.02) $ (0.03) $ 0.05 - diluted $ (0.07) $ (0.02) $ (0.03) $ 0.04 Weighted avg. shares - basic 33,426,164 32,678,359 33,186,695 32,442,602 - diluted 33,426,164 32,678,359 33,186,695 32,938,737 (unaudited) As at As at Consolidated Balance Sheet September December 30, 2009 31, 2008 ------------------------------------------------------------------------- Assets Current assets Cash and cash equivalents $ 18,410,000 $ 20,204,000 Accounts receivable 8,672,000 7,458,000 Inventory 2,285,000 1,386,000 Prepaid expenses 362,000 848,000 Net investment in lease 78,000 87,000 --------------------------- 29,807,000 29,983,000 Property and equipment 2,635,000 2,487,000 Goodwill 2,393,000 1,849,000 Intangible assets 1,605,000 1,754,000 Net investment in lease 58,000 131,000 Other assets - 28,000 --------------------------- $ 36,498,000 $ 36,232,000 Liabilities and Equity Current liabilities Accounts payable $ 1,854,000 $ 2,266,000 Deposits on sales contracts 146,000 112,000 --------------------------- 2,000,000 2,378,000 Future income taxes 162,000 196,000 Shareholders' equity Share capital 45,539,000 44,102,000 Contributed surplus 1,321,000 1,179,000 Accumulated other comprehensive income (loss) (101,000) (59,000) Deficit (12,423,000) (11,564,000) --------------------------- $ 36,498,000 $ 36,232,000