DENVER, CO--(Marketwired - Aug 20, 2015) - Vista International Technologies, Inc. (
Revenue for the second quarter of 2015 rose 118% or approximately $207,500 versus the prior year period, to $383,000, led by significant increases in both tipping fee revenue at the company's tire processing facility and WTE pilot project revenue. This marks the Company's highest quarterly revenue in over 5 years. Cost of revenue for the second quarter also increased, to roughly the same level, as the company prepared its tire facility for sale, and the Company booked expenses related to the manufacture and shipment of the Thermal Gasifier to the project site.
Operating expenses for the second quarter decreased by roughly $145,000, or 80%, to $37,100 versus $181,900 for the comparable period in 2014. The significant decrease was due to continued cost saving measures implemented by management, as well as the lack of stock issuances which were seen in the comparable period in 2014.
Consequently, Vista's loss from operations in the second quarter decreased $47,300 or 35% from the comparable period in 2014. CEO Tim Ruddy commented on the company's progress during the quarter. "The second quarter of 2015 was marked by two significant events -- shipment of our first next generation Thermal Gasifier to its project site, and completion of the preliminary work required to close the sale of the Hutchins tire facility. Each of these will contribute to a much stronger future for the Company."
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.