LAS VEGAS, Nov. 28, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has released its financial results for the third quarter, ending September 31, 2007. MetaPower International, Inc. generated revenue of $1,091,836 during the third quarter of fiscal year 2007, an increase of 557% over the $166,129 of revenue in the third quarter of fiscal year 2006.
The Company's third quarter 2007 revenue represent a 15.6% increase over the second quarter 2007 revenue of $943,978. Revenue for the first three quarters is $2,523,493, which exceeds total revenue of 2006, and is 84% of the Company's total 2007 forecasted revenue.
"Sales efforts during the third quarter of 2007 have closed over $2 million in new contracts. The third quarter marked the beginning of our next implementation of the Company's proprietary UCoDA software. UCoDA will be utilized to provide the process control and information management for a large Process Safety Management project in the Oil Sands region," stated Ken Allen, CEO of MetaPower International, Inc.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.