LAS VEGAS, Nov. 25, 2009 (GLOBE NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPR) is pleased to announce that the Company has posted its unaudited Financial Report for the third quarter of 2009 on Pinksheets.com. MetaPower International's revenues for the quarter ending September 30, 2009 were $2,118,343, an increase of 3% over Q3 2008 during which revenues were $2,057,446. Q3 2009 Revenues were essentially flat compared to the second quarter 2009 revenues of $2,178,345. Year to date revenues were $6,907,661. The Company's earnings (EBITDA) for Q3 2009 were $216,508. This was a 32% decrease in earnings from Q3 2008 earnings and about even with Q2 2009 earnings of $223,835. Year to date earnings (EBITDA) are $732,859.
MetaPower International has continued to maintain revenues in the third quarter despite the continued troubled economic times. The President's message accompanying the report outlines MetaPower's third quarter results and discusses the company's outlook for the rest of the year.
"We continue to successfully manage our way through the global economic slowdown. During Q3 our operations have been stable. We have booked business at the current level through the remainder of the year and 2010. A new project has been booked during Q3 that will begin in Q4 and extend through 2011. We are nearing the end of our Financial Audit which has resulted in some adjustment to entries in our books. The numbers in the 2009 financial reports reflect these adjustments. We expect to release the results of the audit in the not too distant future and do not expect significant adjustments," stated Ken Allen, President of MetaPower International, Inc.
To view the entire unaudited third quarter report, please go to http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=26061
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.