"MetaPower International, Inc. 2008 Second Quarter Financial Report A message from the President MetaPower has continued our record of growth in the second quarter for 2008. Revenues and earnings in the quarter have increased dramatically over Q2 2007. We have also continued to increase our booked backlog of business. Revenues for Q2 were $1,752,572 an increase of 91% over the $916,197 of revenue in Q2 of 2007 and a 7% increase over the 2008 Q1 revenues of $1,621,914. Profits for Q2 were $256,880 all generated from operations. This was an increase of 57% over Q2 2007 profits of $164,120. Sales efforts during the quarter have closed an additional $1.9 million of new purchase orders. Our quarter performance has met plan and we are on track to meet our official forecast for 2008 operations of $6,000,000 in revenue with profits of $1,000,000 (EBITA). Q2 year to date revenues are $3,374,486 and profits are $574,828, both ahead of target on an annualized basis During the quarter we announced that 1.6 billion shares were converted to preferred stock in our preferred share exchange program. This has reduced the number of outstanding common shares to approximately 5 billion shares. Our target earnings for 2008, if achieved, will result in earnings per share of $.0002. We note that our 2008 forecasted earnings per share are about the same as our current market share price. As a result, we believe that our stock is significantly undervalued by the market. We made major strides in developing our new Process Safety Management Product targeted for Q4 of 2008. This important project is continuing on schedule. It is an important aspect of our business plan for 2009 and beyond. Our business development continues to market our services and software to the hazardous process industry. We expect to continue to expand this segment of our business as we prepare for the market launching of our new Process Safety Management Product. MetaPower has steadfastly pursued our business plan and we fully expect to meet 2008 forecasts, and new product releases, which we expect to continue to grow our business into the future."
MetaPower International, Inc. 2008 Second Quarter Financial Report A message from the President MetaPower has continued our record of growth in the second quarter for 2008. Revenues and earnings in the quarter have increased dramatically over Q2 2007. We have also continued to increase our booked backlog of business. Revenues for Q2 were $1,752,572 an increase of 91% over the $916,197 of revenue in Q2 of 2007 and a 7% increase over the 2008 Q1 revenues of $1,621,914. Profits for Q2 were $256,880 all generated from operations. This was an increase of 57% over Q2 2007 profits of $164,120. Sales efforts during the quarter have closed an additional $1.9 million of new purchase orders. Our quarter performance has met plan and we are on track to meet our official forecast for 2008 operations of $6,000,000 in revenue with profits of $1,000,000 (EBITA). Q2 year to date revenues are $3,374,486 and profits are $574,828, both ahead of target on an annualized basis During the quarter we announced that 1.6 billion shares were converted to preferred stock in our preferred share exchange program. This has reduced the number of outstanding common shares to approximately 5 billion shares. Our target earnings for 2008, if achieved, will result in earnings per share of $.0002. We note that our 2008 forecasted earnings per share are about the same as our current market share price. As a result, we believe that our stock is significantly undervalued by the market. We made major strides in developing our new Process Safety Management Product targeted for Q4 of 2008. This important project is continuing on schedule. It is an important aspect of our business plan for 2009 and beyond. Our business development continues to market our services and software to the hazardous process industry. We expect to continue to expand this segment of our business as we prepare for the market launching of our new Process Safety Management Product. MetaPower has steadfastly pursued our business plan and we fully expect to meet 2008 forecasts, and new product releases, which we expect to continue to grow our business into the future. Sincerely, Kenneth R. Allen President MetaPower International, Inc.
News 
Market Data 
Discover 
AI
