CALGARY, AB, Apr 25, 2008 (MARKET WIRE via COMTEX) -- Budget Waste, Inc.
(PINKSHEETS: BDGW), a leading provider of waste and recycling services to
industrial, residential, and commercial clients is pleased to announce the
following positive financial information for the periods ending March 31, 2007
and March 31, 2008.
Revenues for March 31, 2008 are up considerably in all segments of operations,
leading the way with:
Front load 177.8% increase,
Recycling 169.5% increase,
Other 144.1% increase,
Residential 59.1% increa se,
Port-a-potties 52.8% increase,
Small roll off 46.4% increase,
Fencing 42.4% increase,
Large roll off 16.5% increase and
Liquid services 4.7% increase.
All divisions showed a healthy trend having increased revenues over the previous
year.
"We are very pleased with the performance of our management team in all areas of
operations. This increase across the board shows strength in leadership
throughout the organization and reflects the commitment to put BWI ahead of all
competitors in all aspects of operations," stated Jim Can, President and CEO. "I
am exceptionally pleased with the way our team has performed over the past 2
years. These figures promote confidence in our entire staff that we are moving
in the right direction. All of our marketing initiatives are falling into place
and the future looks very bright indeed. We projected an increase in revenues of
55% earlier this year, although we missed that mark by a very small amount I
believe that 54.6% growth shows exceptional strength and everyone involved is to
be commended." He also added, "Our cost of sales remained relatively close to
the previous year although sales were up dramatically, this contributed to the
positive gain in gross margin for the '08 year end. Unfortunately, we were still
operating in a loss position at year end, however the amount of loss was
significantly reduced from the previous year. I am looking forward to more
positive change in the first quarter."
Following is the breakdown of unaudited revenues for BWI with a listings
comparing the previous two years showing increases in dollar amounts as well as
percentages.
Budget Waste, Inc.
31-Mar-08
Summary of Revenue for the Year Ended March 31, 2008, and 2007
2008 2007 Increase % Increase
---------- ---------- ---------- ----------
Large Roll Off 2,788,388 2,393,964 394,424 16.5%
Small Roll Off 6,391,945 4,365,572 2,026,373 46.4%
Port-a-Potties 1,219,773 798,204 421,569 52.8%
Fencing 199,431 140,053 &nbs p; 59,378 42.4%
Liquid Services 2,516,104 2,402,255 113,849 4.7%
Residential 1,837,257 1,154,768 682,489 59.1%
Recycling 385,970 143,198 242,772 169.5%
Front Load 468,809 168,773 300,036 177.8%
Other 760,426 311,493 448,933 144.1%
---------- ---------- ---------- ----------
Total in $Cdn 16,568,103 11,878,280 4,689,823 39.5%
Total in $US 16,140,646 10,441,008 ; 54.6%
@0.9742, 2007 - 0.8790
Cost of Sales 11,820,749 11,512,868 307,881 2.7%
Gross Margin 4,747,354 365,412 4,381,942 1199.2%
% of sales 28.7% 3.1%
General, Selling and Admin 5,424,323 3,976,645 1,447,678 36.4%
---------- ----------
-676,969 -3,611,233 2,934,264 -81.3%
Budget Waste, Inc. is a waste solutions company in Western Canada providing
complete waste and recycling services to commercial, industrial, construction,
homebuilding, oilfield and residential clients. With our broad range of
innovative services we offer our customers more value for their dollar and
reduce accounting costs by providing streamlined billing. BWI is currently
following its growth through acquisition strategy with exceptional success. With
regulations throughout North America pressing companies and individuals to be
more vigilant in the way they handle their waste products we see vast
opportunity for expansion of our distinctive services. We are confident that
extraordinary growth and focus on customer needs will bring our stockholders
outstanding value for the confidence they have placed in BWI.
For more information on Budget Waste, Inc., please visit our web site at
www.budgetwaste.com or contact our investor relations department at:
Budget Waste, Inc.
Investor Relations
Mike Kolankowski
