DENVER, CO--(Marketwired - Aug 15, 2014) - Vista International Technologies, Inc. (
For the six months ending June 30, 2014 the Company saw gross profit increase by roughly 46% over the previous fiscal year, rising to just over $162,500, on revenue of $430,000. The main drivers of this rise in gross profit were reduction of expenses at the Company's tire facility and increased removal of tire material from the facility, which decreased environmental remediation expense.
Overall, the company's loss from operations declined by 59% to approximately $98,000, as compared to a loss of $237,800 in the prior year. Operating income for both years was influenced by one time charges. Excluding one-time charges related to carbon credit asset development, the Company would have reported positive operating income for the first half of 2014. CEO Tim Ruddy commented on the results. "The first half of 2014 showed positive trends for the company's future. Tire segment revenue remained strong in spite of some unexpected shutdowns for our TDF customers, and construction continues on our Waste-To-Energy pilot project. We expect construction of the project to be complete in September 2014, and we are looking forward to presenting the advances of the next generation of our Thermal Gasifier to the Waste To Energy community."
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, waste coal, 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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