LAS VEGAS, Nov. 15, 2012 /PRNewswire/ -- MetaPower International, Inc. (OTCPK: MTPR) is pleased to announce that the Company has posted its reviewed Financial Report for the third 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 September 30, 2012 were $4,075,196, an increase of 8.3% over Q3 2011 which were $3,761,676. The Company's earnings (EBITDA) were $174,037 which was a 6.3% increase over the third quarter of 2011.
Operations have continued to be stable with low turnover of personnel, successfully meeting project milestones, with reliable cash flows. We have base business booked out through the end of 2014. We continue to aggressively sell our current suite of services and have added three new customers to our client list this year.
We are in the process of revising our Noble Production software offering to improve the user experience. We are also developing the training curriculum to be offered with the product and expect to complete the product in Q4 of this year.
We are revamping our company branding as part of the new product campaign. Our website is being updated with the new branding and will be published in Q4 of 2012. All of this is to prepare for the Noble Production product release in Q1 of 2013.
We are operating to plan. 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. We forecast meeting our planned growth in revenues in 2012 and to continue this growth into 2013 and beyond.
To view the entire 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.