LAS VEGAS, Aug. 15, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has released its financial results for the second quarter of fiscal year 2007, ending June 31, 2007. MetaPower generated $916,197 in revenue for the second quarter, an increase of 313% as compared to the $221,913 in revenue for the second quarter of 2006. The revenue for the second quarter of 2007 was also an 86% increase as compared to the first quarter of 2007 revenues of $493,228.
The Company generated a gross profit of $356,000 for the quarter, which is an increase of 224% from the previous year. All of the profit was generated from MetaPower's operations and the Company expects this performance to be sustainable throughout the year and into the future.
"The second quarter of 2007 has been outstanding for MetaPower International, Inc. We are significantly ahead of our forecast. We are continuing to operate according to our business plan and with this outstanding quarter we are revising our 2007 forecasted results to be over $3 million in sales and $300,000 in earnings. This forecast, if achieved, would represent a 200% increase over 2006 revenues and an increase of 650% over 2006 earnings," stated Ken Allen, CEO of MetaPower International, Inc.
MetaPower International, Inc. recently announced that the Company's 50% owned subsidiary, MetaPower Canada, has received a purchase order for $350,000 from a Canadian oil company to lead a Production Reliability Improvement Project for an energy company's Oil Sands operation in Northern Alberta. The purchase order is valued at $334,000 at current exchange rates.
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.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.