LAS VEGAS, Aug. 23, 2012 /PRNewswire/ -- MetaPower International, Inc. (OTCPK: MTPR) is pleased to announce that the Company has posted its reviewed Financial Report for the second quarter of 2012 on OTCMarkets.com. These financials were compiled by the Company's in-house CPA and reviewed by the Company's outside auditors. MetaPower International's revenues for the quarter ending June 30, 2012 were $4,072,370, an increase of 12% over Q2 2011 which were $3,639,634. The Company's earnings (EBITDA) were $125,337 which was a 115% increase over 2011.
Operations have continued to be stable with low turnover of personnel, successfully meeting project milestones, with reliable cash flows. We have extended our backlog of contracts at existing clients with another equivalent year of work.
We have also delivered a custom Facilities Management System in our version 5 UCoDA technology to one of our clients. The system has been well received. This is our first implementation of our new UCoDA Release 5.0 and we are very pleased with its performance and acceptance by our users.
During the quarter we have also completed acceptance testing of our Noble Production offering and after thorough user interaction we are now revising the product to make important changes to improve the user experience.
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. We are broadening our customer base as well as developing a deeper contract backlog with existing customers.
To view the entire quarterly report, please go to:
http://www.otcmarkets.com/stock/MTPR/financials then click on Latest Report "Aug 14, 2012 Quarterly Report"
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.