DENVER, CO--(Marketwired - Nov 17, 2014) - Vista International Technologies, Inc. (
For the three months ending September 30, 2014 the Company saw revenue rise to $231,100, an increase of 35% as compared to the year ago period. Gross profit swung from a loss of $55,300 in the year ago period to a profit of $101,700 in the current period, a positive net change of over $156,000. Operating profit also improved in a similar fashion, rising to a profit of roughly $53,900 in Q3 2014, which reversed a year ago loss of $131,000. The main drivers of this rise in gross and operating profit were the increased revenue mentioned above, coupled with an 18% reduction in expenses at the Company's tire facility, a 52% decrease in operating expenses, and increased removal of material from the Company's tire facility, which decreased environmental remediation expense.
"Vista is currently seeing a significant margin expansion, due to the combination of rising revenue and decreasing expenses," commented CEO Tim Ruddy. "The strong results from our Hutchins facility, coupled with the development of our carbon credit portfolio and the coming completion of the Company's Waste to Energy pilot project have put the company in position for a solid fourth quarter, and continued strength heading into 2015."
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.