Solverdi Worldwide, Ltd. Reaffirms Positive Results for 4th Quarter and Announces Strong Forecast for 2010
January 20 2010 - 9:00AM
Business Wire
Solverdi Worldwide Ltd. (ASX:SWW), the world’s renewable
utility, today announced it will report a net profit for the 4th
Quarter of 2009.
Chief Executive Officer Dennis M. Danzik stated, “Sales in the
4th QTR exceeded AUD$ 3.12 million with an estimated net operating
profit of AUD$ 367,555 or 11.7%. Our entire team should be
congratulated on a solid performance.”
Solverdi revenues climbed to AUD$ 847,932 in October, up 23%
from AUD$ 688,450 in September 2009, of the previous quarter
Aristos turned in 78% of the sales growth. Solverdi utilities
group, which includes waste water processing, rose 37% to AUD$
109,000 in October.
November revenues reached AUD$ 1,038,034 with Aristos division
totaling AUD$ 816,034. Both operating divisions showed a net
operating profit in November.
December revenues were AUD$ 1,240,600 with Solverdi utilities
revenues climbing to AUD$ 551,981. Aristos turned in a net
operating profit of AUD$ 44,032 for December with the utilities
group turning in a net operating profit of AUD$ 270,400.
“As Solverdi enters 2010, our forecast for 2010 remains strong.
Revenues will continue to climb under current sales contracts, with
special strength shown in our Waste Water and Energy sectors. Our
new Cyprus facility is now under construction and should show
revenue growth in July of this year. Solverdi installations in the
U.S. will double through the end of March of this year,” Danzik
added.
“Another set of positive indicators is that our Website and
positive press news are beginning to drive business opportunities
to Solverdi. The Website is a real eye-opener, and we have received
many positive comments. Lastly, research and development continues
with positive results, and we will have several technology based
informational announcements in the next several weeks,” stated
Danzik.
About Solverdi Worldwide Ltd.
Solverdi Worldwide Limited is the world’s first renewable
utility. It offers customers a “behind the meter” solution for
generating electricity during peak utilization periods at 15 - 25%
below peak rates per kilowatt hour. In addition, the Solverdi
Process is used to produce steam, compressed air, and recapture
non-potable water. The Solverdi Process includes an amplified solar
cracking (thermal) system that delivers renewable electricity and
incorporates the use of solar and renewable fuels and utilizes a
commercial building’s uninterruptable power supply and interior
energy infrastructure. The average system is installed on the
exterior of the building and fits inside a 100 square foot area.
All systems are designed and supervised by professional engineers,
and meet LEED standards in the U.S. The company also operates
Australia’s largest capacity renewable fuel production facility,
near Brisbane, Queensland, and an additional facility in Berkeley
Vale, New South Wales.
Forward Looking Statements
The Information herein contains forward-looking statements that
involve risks, uncertainties, assumptions and other factors, which,
if they do not materialize or prove correct, could cause Solverdi
results to differ materially from historical results, or those
expressed or implied by such forward-looking statements. All
statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements,
including statements containing the words "planned," "expects,"
"believes," "strategy," "opportunity," "anticipates," and similar
words. These statements may include, among others, plans,
strategies and objectives of management for future operations; any
statements regarding proposed new products, services or
developments; any statements regarding future economic conditions
or performance; statements of belief; and any statements of
assumptions underlying any of the foregoing. The potential risks
and uncertainties may include, but are not limited to, competition
in our target markets; potential capital needs; management of
future growth and expansion; risk of third-party claims of
infringement; protection of proprietary information, customer
acceptance of the company's products and fee structures; the
success of Solverdi brand development efforts; risks associated
with strategic alliances; reliance on distribution channels;
product concentration; need to develop new and enhanced products;
potential product defects; our ability to hire and retain qualified
employees and key management personnel; and risks associated with
changes in domestic and international market conditions and the
entry into and development of international markets for the
company's products. Solverdi assumes no obligation to update any
forward-looking statement to reflect events or circumstances
arising after the date on which it was made.
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