LONDON, ON, Dec. 12 /PRNewswire-FirstCall/ - Trojan Technologies Inc.
(TSX:TUV) was awarded contracts with a total value of $21.2 million for
municipal wastewater and drinking water UV disinfection systems during the
three-month period ended November 30, 2002.
Of the $21.2 million contracts awarded during the three month period,
contracts totalling $9.1 million were previously announced and contracts
totalling $12.1 million are being announced today. Municipal wastewater
contracts totalled $13.5 million and municipal drinking water contracts
totalled $7.7 million during the quarter.
Contracts for UV wastewater disinfection equipment were particularly
strong in the U.S., amounting to $8.5 million during the quarter. The largest
orders, representing $5 million of this total, were awarded by two repeat
customers - the City of Daytona in Florida, and the Jefferson County
Commission - Environmental Services Division in Alabama. Both of these
facilities are replacing existing chemical disinfection with Trojan's
The Daytona facilities are using UV equipment to treat wastewater for
agricultural re-use. "We get 8 million visitors to Daytona every winter.
Trojan's effective and cost-efficient technology has allowed us to not only
meet our city's needs, but also to preserve our water resources. That's a huge
environmental win," says Dennis Colby, Manager of Water and Wastewater
Operations for the City of Daytona.
In the municipal drinking water disinfection market, North America
continues to gain momentum with $2.1 million in contract awards. Trojan's
newest product, the Trojan SwiftSC(TM), for smaller communities drinking water
treatment, is achieving early success, particularly in Canada.
"With growth in North America in both municipal drinking water and
wastewater treatment markets combined with our record backlog, we are off to a
strong start," noted Trojan President and CEO Allan Bulckaert.
The company's order backlog at the end of the quarter stood at $62.4
million, up from $60.1 million at the end of fiscal 2002 - a record level.
Change in Year End
Trojan also announced today that it is changing its year-end from August
31 to December 31. "Most of the companies in our industry report on a calendar
year basis. We have decided to align our financial reporting periods with our
industry peers to better enable investors, the financial community and
Trojan's management to make meaningful comparisons between our Company and its
peers," Bulckaert explained. "In addition, with our acquisition program, we
have encountered additional complexity and costs by requiring each of our
acquired companies to change to an August year end."
Trojan will report its financial results for the four-month year ending
December 31, 2002, which will be a transition year. Accordingly, the Company
will not be reporting its November 30, 2002 results. Thereafter, the Company
will report quarterly (for periods ending March 31, June 30, September 30, and
With approximately 3,000 municipal facilities in over 25 countries using
its technology, Trojan has the largest installed base of UV systems in the
world. Its equipment destroys water-borne pathogens such as E.coli, Giardia
and Cryptosporidium in a highly effective, cost efficient, and environmentally
The company designs, manufactures and sells UV systems for municipal
wastewater and drinking water facilities, as well as for the industrial,
commercial and residential markets. The company also provides UV treatment for
the removal of toxic chemicals from water.
Trojan has over 350 employees around the world. Headquartered in London,
Ontario, Trojan has offices in Germany, the U.K., Netherlands, Norway, Spain,
and the U.S. Its shares are listed on The Toronto Stock Exchange under the
trading symbol TUV.
SOURCE Trojan Technologies Inc.