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Enter Symbol
or Name
USA
CA



STT Enviro Corp
Symbol STT
Shares Issued 36,190,523
Close 2015-03-05 C$ 0.27
Market Cap C$ 9,771,441
Recent Sedar Documents

STT Enviro earns $1.18-million in 2014

2015-03-06 07:22 ET - News Release

Mr. David Deacon reports

STT ENVIRO CORP. REPORTS RECORD PROFITS FOR FOURTH QUARTER AND YEAR ENDED DECEMBER 31ST, 2014

STT Enviro Corp. has released financial results for its year ended Dec. 31, 2014, of approximately $22.3-million of revenue, $2,238,285 of EBITDA (earnings before interest, taxes, depreciation and amortization) and net income after tax of $1,182,666. For the quarter ended Dec. 31, 2014, the company reported approximately $6.4-million of revenue, $661,691 of EBITDA and net income after tax of $301,974.

                     FINANCIAL HIGHLIGHTS FOR THE YEAR

                                           Year ended       Year ended
                                             Dec. 31,         Dec. 31,
                                                 2014             2013

Revenue                                   $22,348,399      $28,421,577
EBITDA                                      2,238,285        2,685,944
Net income before tax                       1,527,181        1,844,229
Net income after tax                        1,182,666        1,021,642
Earnings per share --
basic                                           0.035            0.039
Earnings per share --
diluted                                         0.034            0.039
Closing backlog                            28,169,207       13,899,576
Closing working
capital                                     3,616,961        1,008,237


                  FINANCIAL HIGHLIGHTS FOR THE QUARTER

                                     Quarter ended       Quarter ended
                                     Dec. 31, 2014       Dec. 31, 2013

Revenue                                 $6,423,264          $5,188,024
EBITDA                                     661,691             178,490
Net income (loss)
before tax                                 489,309             (1,964)
Net income after
tax                                        301,974              67,483
Earnings per share
-- basic and diluted                         0.008               0.003

David Deacon, chief executive officer, commented: "We are pleased that after the tough entry into 2014, the company was still able to post higher profit than in 2013, despite lower revenue. As well, we have rebuilt our backlog to historically high levels in what has been a year with pretty serious headwinds. This sets up the company for a very strong revenue expectation for 2015 relative to any previous year, although our gross margins will see some pressure due to the competitive nature of our current bids."

He continued: "Our bolted tanks become a must consider alternative in the oil sands given current low oil prices because of our 25-per-cent-to-30-per-cent cost advantage over field-welded alternatives. While there is unlikely to be a lot of activity in 2015, we believe we are now a strong contender for any tank farms being contemplated, and also for incremental growth in current tank farms as the producers look for greater storage capacity to be able to manage their markets better in a volatile pricing environment. In addition, we have begun offering trans-load solutions to producers using hydraulic fracturing techniques, and our first project in this market, valued at approximately $6.5-million (U.S.), was awarded to us in February, 2015."

Finally, he said: "Management has continued to focus on diversifying the company's revenue base and on new areas of activity. Our now proven ability to modify our activities and penetrate new markets when some of our traditional ones have been weak has continued to contribute to a strong cash position due to cash generated from operations. The company's primary focus continues to be organic growth of its existing business. However, with a significantly strengthened balance sheet, the company is in a position to consider strategic acquisitions."

The company will hold a conference call to discuss the financial results on March 11, 2015, at 11 a.m. Eastern Time. The call-in numbers are 416-204-9641 or 1-877-314-1234; participant code 9530930.

We seek Safe Harbor.

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