Current Water Technologies Reports Q2 2024 Financial Results
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Current Water Technologies Reports Q2 2024 Financial Results
Current Water Technologies Inc. (TSX-V: WATR) has announced its financial results for the three months ending June 30, 2024. This report highlights the company's performance during the second quarter and reflects on critical financial metrics that offer insights into its operations.
Financial Highlights for the Second Quarter
The second quarter of 2024 revealed some noteworthy financial figures for Current Water Technologies. Revenue reported for the period was $481,225, a decrease from $691,791 from the same quarter in 2023. This decline in revenue presents challenges that the company faces in the current market. Operating expenses were recorded at $517,478, which is a slight reduction from $555,463 in the equivalent period of the previous year.
Net Earnings Review
Current Water Technologies reported net earnings of -$36,252 for Q2 2024, down from a positive net earning of $136,328 in Q2 2023. This significant drop underscores the impact of reduced revenue on the overall financial health of the company.
Performance for the Six-Month Period
Analyzing the results for the first half of the fiscal year, the total revenue gathered from January to June 2024 stands at $1,349,804, marking a decrease from $1,694,071 during the same period in 2023. Operating expenses for this timeframe were $1,288,711, which has slightly increased compared to $1,228,667 in the prior year.
Company Overview
Current Water Technologies Inc. is recognized as a leader in utilizing advanced technologies for the treatment of various water types, including wastewater, desalinated water, and drinking water contaminated by metals and nutrients. The company specializes in addressing the needs of sectors such as mining, metal processing, and waste management with its patented Electrochemical Technologies. An integral part of the company, Pumptronics Incorporated operates as a division and focuses on manufacturing custom design pump stations and automation solutions.
Trading Information
Current Water Technologies has its common shares traded on Tier II of the TSX Venture Exchange under the ticker symbol "WATR". The performance of these shares can serve as an indicator of the market's confidence in the company and its operations.
Contact Information
For further inquiries, stakeholders are encouraged to reach out to the company directly. Dr. Gene S. Shelp, Ph.D., P.Geo., serves as the President and Chief Executive Officer. He can be contacted at the following:
Tel: (519) 836-6155
Fax: (519) 836-5683
E-mail: gshelp@currentwatertechnologies.com
Web Site: www.currentwatertechnologies.com
Frequently Asked Questions
What are the financial highlights for Current Water Technologies in Q2 2024?
In Q2 2024, Current Water Technologies reported revenue of $481,225 and net earnings of -$36,252.
How do the current revenues compare to previous years?
The current revenue of $481,225 represents a decrease from $691,791 reported in Q2 of 2023.
What is the focus of Current Water Technologies?
The company focuses on treating wastewater and contaminated water using its patented Electrochemical Technologies.
Where are the company's shares listed?
Current Water Technologies shares are traded on Tier II of the TSX Venture Exchange under the symbol "WATR".
Who should be contacted for additional information?
Dr. Gene S. Shelp, the President and CEO, is available for inquiries via phone or email as provided.
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