LAS VEGAS, May 22, 2012 /PRNewswire/ -- MetaPower International, Inc. (OTCPK: MTPR) is pleased to announce that the Company has posted its reviewed Financial Report for the first quarter of 2012 on OTCMarkets.com. These financials were compiled by MetaPower's in-house CPA. MetaPower International's revenues for the quarter ending March 31, 2012 were $4,134,857, an increase of 26% over Q1 2011 which were $3,274,241. The Company's earnings (EBITDA) were $287,527 which is a significant increase over Q1 2011, which were $141,195. Operations have continued to be stable with low turnover of personnel, successfully meeting project milestones, and reliable cash flows.
Our Product development group has completed work on our Noble Production offering, and delivered it to our internal group responsible for final acceptance testing. We hope for this testing to be completed during Q2 2012.
We are operating to plan. We are encouraged that our revenues and costs are as expected. We are meeting our internal development commitments which will help us to continue to meet our long-term business development goals. Our most exciting achievement in the quarter was the engagement with a new client.
To view the entire unaudited quarterly report, please go to:
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology and services firm originally founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to manage the changes necessary to successfully compete in the current environment. In today's world, business operations must be streamlined to meet the challenges of these turbulent economic times.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
SOURCE MetaPower International, Inc.