PyroGenesis Canada Inc (PYRGF)

[Buckey]

Financials just released. They look pretty good I Think. I mean huge increase in revenues and net profit and clean solid balance sheet. I know its old boring stuff and isnt an exciting new NFT worth nothing being launched or whatever other foolishness has been driving the volatile stocks lately.

THis was a 40 cent stock 18 months ago

Full NR is much longer

yroGenesis Announces 2020 Results: Revenues $17.8MM; Net Earnings and Comprehensive Income $41.8MM Gross Margin 58%; Current Backlog $30MM; Basic EPS $0.28

MONTREAL, March 31, 2021 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (FRA:8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and commercializes plasma atomized metal powder, environmentally friendly plasma waste-to-energy systems and clean plasma torch products, is pleased to announce today its financial and operational results for the fourth quarter and fiscal year ended December 31st, 2020.

“We are happy to announce Q4, and fiscal year end, results for the period ending December 31st, 2020, which continue the historical trends began earlier in the year. Our full year revenues of $18MM reflects the successful processing of backlog from signed contracts previously disclosed. The Board’s choice of strategy has been validated with the reporting of the second profitable quarter in a row. Further validating this strategy, net income from operations (before share-based expenses) was $3.3MM for the year which is quite significant given the uncertain environment that 2020 was, and during which the Company not only retired virtually all of its debt, but also uplisted to the Toronto Stock Exchange and positioned itself for a NASDAQ listing in Q1 2021,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “The successes of 2020, when combined with the results from our strategic investment, have contributed to a basic EPS of $0.16 for the quarter, and $0.28 for the year, both of which have exceeded previous guidance. With a strong balance sheet and approx. $27MM of cash-on-hand as at this writing, the Company is well positioned to execute on its strategy of growth and solidify its position as an emerging leader in the reduction of greenhouse gas emissions, and as such, we expect these trends established in 2020 to continue.”

2020 results reflect the following highlights:

Revenues of $17,775,029, an increase of 269% over $4,813,978 posted in the prior year,
Net earnings and comprehensive income of $41,768,404 an increase of $50,939,521 over 2019,
Net earnings and comprehensive income from operations (before share-based expenses) of $2.9MM during fiscal year 2020 vs ($7.9MM) posted over the same period in 2019,
Gross margin of 58%, an increase of 21% year over year,
Cash and cash equivalents at December 31, 2020 of $18,104,899 (December 31, 2019: $34,431),
Backlog of signed contracts of $30MM,
Basic Earnings per Share (EPS) of $0.28 for 2020 as compared to ($0.07) in 2019,
Total Assets at December 31, 2020 of $74.5MM (December 31, 2019: $9.6MM),
Shareholders’ Equity at December 31, 2020 of $59.4MM (December 31, 2019: ($6.1MM)).