DENVER, CO--(Marketwired - May 14, 2013) - Vista International Technologies, Inc. (
For the fiscal quarter ending March 31, 2013 the Company saw revenues increase by roughly 23% over the previous fiscal year, topping $190,000. These increases were mainly due to increased sales of processed tire material at the Company's tire processing facility in Hutchins, Texas. Revenues at the facility are also becoming more steady, as revenue topped $60,000 in each month of the quarter. These revenues come at a traditionally weaker time of year in the tire processing business and should improve as the summer months approach.
Operating expenses for the quarter ended March 31, 2013 were down roughly 32% year over year, and 42% from the previous quarter. These decreases in expenses are due to the continued reduction in corporate overhead and are a direct result of the Company's efforts to streamline operations, which began in the first quarter of 2012.
Overall, the company's net loss from operations is expected to decrease by over 95% from the year ago quarter, to roughly $2,600, compared with roughly $66,600 in the first quarter of 2012. Aside from the increased revenues and decreased expenses mentioned above, the company also recorded additional income due to the net removal of over 1500 tons of tire material from the Hutchins tire processing site in the first quarter. This removal of tire material decreased the company's environmental remediation expenses by roughly $41,000.
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.
For more information on Vista or this release, please visit www.vvit.us, or call 303 690 8300.