BluMetric Environmental, Inc. (BLMWF: OTCQX International) | BluMetric Announces Fiscal Year 2024 Results
BluMetric Environmental Inc. released its Fiscal Year 2024 financial results with several key highlights:
Financial Performance
- Annual revenue was $34.8 million (slightly down from $35.1 million in 2023)
- Fourth quarter revenue increased to $11.1 million from $10.3 million in the previous year
- Gross margin improved:
- Full year gross margin: 40% (up from 35% in 2023)
- Fourth quarter gross margin: 34% (down from 36% in 2023)
Key Business Developments
- Acquired Gemini Water LLC on September 24, 2024
- The acquisition impacted the balance sheet immediately
- Its impact on the income statement will be visible in fiscal Q1 2025 and beyond
Market Performance
- Market segment highlights:
- Commercial & Industrial market revenue declined due to project completion
- Government market remained stable
- Military market increased by 75%, driven by water purification system refurbishments
- Mining market decreased with a focus on higher-value services
Future Outlook
- BluMetric is entering a new growth phase with:
- Doubled manufacturing capacity in Carp, Ontario
- New sales and business development leadership
- Establishment of a new Operations and Maintenance division
- Plans to expand U.S. manufacturing footprint
- Ongoing projects like the 2 million gallons per day St. Kitts and Nevis project
Investor Information
- Investor Conference Call Details:
- Date: Thursday, January 30, 2025
- Time: 1:00 PM ET
- Registration: https://emportal.ink/48E4t3q
- Dial-in: 1-888-699-1199 (Toll-Free) or 1-416-945-7677 (Local)
Company Profile
Serving Commercial and Industrial, Military, Mining, and Government clients
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BluMetric is a publicly traded environmental consulting and engineering company with:
Over 45 years of expertise
220+ employees
Ten offices
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