DENVER, CO--(Marketwired - Apr 1, 2015) - Vista International Technologies, Inc. (
Gross revenue for 2014 rose to roughly $866,400, led by a 20% increase in tire facility revenue. This marks the Company's highest annual revenue since 2006. Significant revenue increases were seen in 2014 for both incoming tonnage and processed tire material sales. Cost of revenue for 2014 decreased roughly 8%, as cost savings at the Hutchins tire facility were matched by favorable margins in the Waste-To-Energy segment. Environmental remediation income rose by 142% in fiscal 2014 as more than 4000 tons of tire material were removed from the Hutchins tire processing site.
Gross profit for 2014 surged by 106% to its highest level in five years, reaching approximately $358,000, as higher revenue, lower costs and environmental remediation income each helped to significantly boost the Company's gross margin. The Company also reported an operating profit of roughly $26,100 -- the Company's first ever operating profit in 12 years as a publicly traded company. Vista CEO Tim Ruddy saw the results as an important stepping stone for the Company. "The Vista team performed exceptionally well in 2014, with strong revenue and profit growth at our tire facility being balanced by significant pilot project milestones in the Waste-to-Energy business. We look to build on these results in 2015 as we transition the Company to more of pure play in the Waste-To-Energy space."
Vista International Technologies, Inc. has been producing Waste-to-Energy gasification systems for over twenty years, with installations across three continents. The Company's technology has low costs of installation and operation, and allows for the processing of virtually any hydrocarbon-based waste product, including municipal solid waste, waste tires, sewage waste, and biomass, among others. The company's Waste-to-Energy systems are emission friendly and extremely efficient, and can be used to produce heat, steam, and/or electricity.
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