LAS VEGAS, June 26, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) announced today that its operating subsidiary generated over $1.089 million in revenue for its fiscal year ending December 31, 2006. MetaPower, Inc. generated $988,947 in consulting fees and $105,024 in license and maintenance fees from the Company's UCoDA products. The company's net profit for it's fiscal year was over $30,000. The Company has posted its financial results for its fiscal year ending December 31, 2006 on www.pinksheets.com.
This information represents the performance of MetaPower LLC, which was acquired by MetaPower International's predecessor company in April of 2007. MetaPower International, Inc. generated over $607,577 in gross profit from January 1, 2006 to December 31, 2006. The Company has over $2.22 million in total assets as of December 31, 2006.
"We are very pleased to be providing our shareholders with the financial statements from our operating subsidiary for fiscal 2006. We expect to release first and second quarter results for MetaPower, Inc. in the near future, and are currently forecasting revenue of $2,000,000 for calendar year 2007," stated Ken Allen, CEO of MetaPower International.
To view the complete financial statements, please visit: http://www.pinksheets.com.
About MetaPower International, Inc.:
MetaPower International, Inc., a technology firm, provides information technology and change management services to hazardous process industries. This link between technology and services is critical to make 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.
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