Ridgeline Reports Second Quarter Fiscal Year 2013

New Post Public Reply Private Reply Replies (1) Message Board

Dec 10, 2012 at 3:54 AM

Ridgeline Reports Second Quarter Fiscal Year 2013 Financial Results

65% Revenue Increase

November 26, 2012 - Calgary, Alberta, Ridgeline Energy Services Inc. ("Ridgeline" or the "Company") (TSXV: RLE, OTCQX: RGDEF, FSE: RL7) an energy services and water treatment technology company, today announced the financial results for its second quarter of fiscal year 2013 ending September 30, 2012.

Tony Ker, CEO of Ridgeline Energy Services Inc. "We are pleased to announce a 65% increase in second quarter revenues for 2013 ($5.3 million) compared to second quarter 2012 ($3.4 million). Compared with the first quarter revenues of 2013 ($3.4 million) the second quarter revenue is up 56% ($5.3 million). Furthermore, the first quarter 2013 loss of $2.98 million has been reduced by $1.43 million to $1.55 million for the second quarter 2013. This compares with a loss of $0.03 per share in the first quarter 2013 to a $0.01 per share loss in the second quarter 2013.

Moreover, included in the net loss of $1.55 million for the second quarter of fiscal year 2013 are non-cash charges of approximately $0.93 million pertaining to the amortization of intangible assets and property, plant, and equipment, and $0.24 million pertaining to non-cash stock based compensation expense. These non-cash expenses total $1.17 million. Cash used in operations before the effect of working capital changes is $0.38 million.

I am very proud to report that all of our operating divisions are now cash flow positive, and our water division has doubled revenues, quarter over quarter.

The Company has continued to invest in water treatment facilities, manufacturing capacity, and installation capability. We are now at a stage where all the components necessary to grow the company are in place. Our business continues its rapid growth by focusing daily on execution. Our annual revenue run rate of our waste water treatment facilities continues to grow and is now approaching a $10 million run rate. Our Santa Fe Springs property continues its aggressive growth and we look for growth in our oil and gas segment, with long term contracts now in place."

"Excitement is building in our oil and gas segment due to the signing of a five year contract by our long time major oil and gas customer in Texas. Our contract calls for minimums of 2,500 barrels per day, and our Leonard Shale location will greatly exceed that minimum. We also look to launch systems in the Red Hills Texas area and in Western Pennsylvania in the coming year. Our continued research is showing that the oil and gas industry as a whole is slowly tipping in favor of broad based water recycling. While slowly developing, our long term view is for higher demand and higher prices for Ridgeline water systems, and water management, which includes significant storage opportunities."

Ridgeline Environment is on track for over $11.0 million dollars of revenue in 2013 and improved profitability. Ridgeline GreenFill will have added another treatment site at Youngstown in Alberta and is expected to grow steadily. The GreenFill wet waste water treatment capability pioneered at Red Cliff will add significant growth to GreenFill revenues for each of the now 5 GreenFill sites.

Balance Sheet

The Company's balance sheet was highlighted by an increase in its cash balance to $7.8 million, compared to $4.6 million at the beginning of the year. Total equity also increased to $41.6 million from $34.6 million at the beginning of the year.

Outlook

Ridgeline expects the third quarter of fiscal year 2013 revenues to be in the range of $6 million to $6.5 million, an increase of 10% to 20% from the third quarter of the previous fiscal year. Continued increases in revenues are also expected in the fourth quarter. The growth in revenues is expected to be largely driven by the Company's water treatment segment, specifically operations at its Santa Fe Springs, California waste water treatment facility.

Conference Call

The Company will be conducting a conference call at 8:30 a.m. ET on Tuesday, November 27, 2012. Interested parties can access the conference call by dialing (877) 317-6789 or (412) 317-6789, or listen via a live Internet webcast on the Company's website at www.ridgelinecanada.com . A teleconference replay of the conference call will be available by dialing (877) 344-7529 or (412) 317-0088, confirmation code 10021452, through November 30, 2012. A webcast replay of the conference call will be accessible on the Company's website at www.ridgelinecanada.com for 90 days.

About Ridgeline Energy Services Inc.

Ridgeline Energy Services Inc. is an energy services and water treatment technology company. The Company is applying proprietary technology to treat water generated from industrial and commercial waste water markets. These markets include a wide variety of clients across a broad spectrum of industries including oil and gas. Through its environmental consulting and remediation divisions, Ridgeline Environment has built a reputation as an established provider of environmental services to the Western Canadian oil and gas industry. Ridgeline GreenFill provides soil remediation and wet waste disposal services to the oil and gas industry. The Company trades on the TSX Venture Exchange under the symbol "RLE", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange as "RL7".

Additional information is available on the Company's website at: www.ridgelinecanada.com .

For further information please contact:

Ryan Johnson
Ridgeline Energy Services Inc.
Corporate Development
(604) 566-8066 ext. 3 (Vancouver)
rjohnson@ridgelinecanada.com

Robert Blum, Joe Diaz or Joe Dorame
Lytham Partners, LLC
Investor Relations
(602) 889-9700 (Phoenix)
RLE@lythampartners.com

ON BEHALF OF THE BOARD OF DIRECTORS

"Tony Ker"

Tony Ker, CEO

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
http://www.ridgelinecanada.com/s/NewsReleases...al-Results

RDX Technologies Corp (RGDEF) Stock Research Links

RGDEF Board Company Profile Buy Rating Time & Sales News Filings Financials

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

EICMA 2026: Groundbreaking Moves in Two-Wheel World

Revving Up in Milan: A Record-Breaking EICMA If you're into two-wheelers as much as stocks, EICMA 2026 is where all the action is happening. They opened the door with a bang at Fiera Milano Rho, pulling off their biggest showcase yet. Ten halls packed to the brim, up from nine the previous year, creating buzz across the globe. Showcasing 765 exhibitors and 2,142 brands...

Ritz-Carlton Yacht Collection Sets Sail with New Leaders

Charting New Waters in Luxury Cruising Change is cruising on the open sea, folks—captained by Alan Leibman and Tatiana Ferreira, who're now at the helm of The Ritz-Carlton Yacht Collection. These names aren't just flotsam in the breeze; they're packing as much pedigree as you'd find in a top-shelf bottle of Champagne. They aren't steering yachts for a joyride; the...

QVC Group Readies 2026 Q3 Results, Faces Retail Shift

The Changing Faces of QVC Group Something tells me that the retail landscape’s a different beast in 2026. QVC Group, Inc. (NASDAQ:QVCG) has wired up for a crucial update we’ve all been waiting for—announcing their third quarter fiscal 2026 results. Mark your calendars for November 16th, because that’s when the SEC will get their hands on the 10-Q, and we’ll get...

Delta Marks 19 Years at COP With Bold New Initiatives

Delta's Commitment to Global Sustainability Delta's name pops up yet again at the United Nations Climate Change Conference (COP31) in Antalya, Turkey, marking the company's 19th consecutive year of participation. They're mounting efforts to hit that "35×35" target, aiming for 35% electrification by 2035. This isn't just fluff and rhetoric—it’s Delta taking the lead...

Energenesis Tackles Space Anemia with ATP Boost

Gearing Up for Space Medicine: Enter Energenesis With the cosmic frontier drawing investor eyes and day-to-day operations inching skyward, here comes Energenesis Biomedical (TWSE: 6657), poking its head into space medicine. This isn’t just another biotech firm looking to throw drugs at terrestrial problems. No, Energenesis shot its shot at TASTI 2026 with its...

Strathcona and Greenfire Set Sights on Major Merger

Strathcona's Bold Move for Greenfire: A Game Changer? Just this week, Strathcona Resources Ltd. decided to make a big splash in the oil sands space by proposing to acquire Greenfire Resources Ltd. This isn’t your run-of-the-mill grab—it's a strategic tango expected to shift billions and reshape what we know about Canada’s oil sands territory. Unpicking the Deal...

Valmet Expands Board Maker Deal in Asia With New Line

If there's one thing Valmet understands, it's the beauty of a longstanding business relationship. On November 9, 2026, the Finnish powerhouse announced another feather in its cap—a new board making line order from a major client in Asia. This deal ain't just another tick in the order books. No, sir, it's about prowess and power in the paper game. Building on Existing...

New Leadership at Reactive Tech: Claudio Facchin Steps In

Facchin Joins Reactive Technologies: Power Play or Predictable Move? Let me tell you, the energy sector ain’t for the faint-hearted—especially when you’re talking grid stability. Reactive Technologies just tossed an ace on the table, appointing Claudio Facchin as the new Board Chairman. If you've been around the block, you might recognize Facchin's name from his...

Invitation Homes Supports Veterans in Skilled Trades Push

A New Chapter for Veterans in the Workforce Normally when a company kicks off a partnership, it’s all about fluff and show. But this thing with Invitation Homes and the Home Builders Institute (HBI) is the real deal for veterans looking to switch gears into new careers. The objective is simple—get transitioning service members, veterans, and their families rolling...

Outer Spaces Unveils OS1 at Major Energy Expo

Introduction to the Future of Solar Living Just when you thought you'd seen it all, along comes Outer Spaces with their OS1—a solar pavilion and battery deck that looks at residential energy with fresh eyes. Debuting at the RE+ 2026 in Las Vegas, this isn't just another gizmo. This is about bringing solar power to your backyard without making your roof look like it...