E-Waste Systems Announces Preliminary Record 3rd Q
Post# of 3844
LONDON, UNITED KINGDOM, Nov 05, 2013 (Marketwired via COMTEX) -- E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management services, technology and reverse logistics company and the first public pure eWaste company, today announced its expected revenues for the third quarter should exceed $4.5 million, subject to the completion of its independent auditor's review. These results would represent an increase of more than 60% over the second quarter of 2013.
For the full year ending December 2013, the company also projects that its operating revenues are expected to exceed $12 million.
"We are extremely pleased with these preliminary third quarter results and we have confidence that the full year will also be excellent," said Martin Nielson, Founder and CEO of EWSI. "These results are our best estimates at this time. They represent the strong commitment of our team to achieving the goals and business plan announced by us for 2013. We look forward to a strong finish to our 2013 year-end."
The second half of 2013 started with important partnerships into new countries that have widened the reach of the company's global brand with ventures in Latin America, India, Africa and the Caribbean; which followed the entry into China and the USA in the first half. Third quarter has also seen the launch of agreements projected to develop ePlants in 3 different continents in 2014. And, the proprietary technology eWasteCC(TM) presented at Microsoft in Costa Mesa in August is now being rolled out for international expansion. On the acquisition front, the company recently closed the acquisition of Surf Investments in Southern California and entered into a letter of intent with eStewards and R2 recycler 2TRG, which it expects to close in the 4th Quarter.
"We felt that this announcement would be very important to manage expectations. We always encouraged interested parties to contact us with questions of interest on our developments. And, our recent interviews, information 8K filings and Q&A's posted on our blogsite and on social media all give broad indications of our developments, but we believe that more specific numbers should be provided since we now have them." added Mr. Nielson.
2013 Revenue Guidance EWSI presently expects its fourth quarter revenues for 2013 to meet or exceed $6M. Combined with the initial expectation of at least $4.5 million for the third quarter, together with year to date revenues through the second quarter of nearly $3 million, the company's 2013 full year revenues are presently projected to exceed $12 million. These forecasts are subject to numerous risks, including those described under 'Forward-Looking Statements' below and under 'Risk Factors' contained in annual and quarterly reports.
Mr. Nielson added, "We published our business plan at the start of the year and we are well on our way toward fulfilling the promise of that plan. Our Company has, at its core, a vision for the establishment of a global brand -- the eWaste brand -- dedicated to making waste processing compliant at the highest environmental standards of regulation and quality, and at a profit to participants. With our expanding technology, we can have both -- profit for our shareholders coupled with uncompromising care for the environment. And, we will continue to accelerate our revenues by pursuing growth opportunities worldwide through acquisitions and partnerships and in other growth areas where we can best serve customers and create value."
Today, EWSI is able to arrange collections in the USA from every zip code; has entered the UK market, opened a strategic office in China, launched a partnership in Australia and recently announced deals in Africa, Argentina and India. EWSI brings technology, including its recently announced proprietary ePlant1000(TM), eWasteCC(TM) (carbon credit) and eWasteTRACK(TM) technology solutions, regulatory knowledge, industry experience and management services to its subsidiaries and affiliates, brand licensees, and teaming partners around the world as part of its strategy to extend the presence and global influence of the Company's branded services and technologies.
EWSI will provide more detailed results in its 2013 third quarter 10-Q filing, in period-ending financial press releases and in its year end 10-K filing.
For more information as it happens, follow @EWasteSystemsIn on Twitter and Facebook and on the company's blog at www.ewastesystems.blogspot.com
Industry Expansion The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Associates), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies set more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.
About E-Waste Systems, Inc. E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, providing a true global e-waste solution. Additional information, including the business plan summary, is available on the Company's website, www.ewastesystems.com .
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
Contact:
Investor Relations
ir@ewastesystems.com
SOURCE: E-Waste Systems, Inc.
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SUBJECT CODE: Environment:Waste Management
Environment:Hazardous Materials Management
Environment:Regulations and Law
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