DENVER, CO--(Marketwired - Nov 6, 2014) - Vista International Technologies, Inc. (
Revenue for the third quarter surged 35% year over year, rising to roughly $231,000. The increase was mainly the result of sharply higher revenue from the sale of processed tire material, although the company did see a 24% increase in tipping fee revenue during the quarter as well. This revenue increase also represents a more than 30% increase over the second quarter of 2014. In spite of this large increase in revenue, the company was able to keep production expenses in check, and expects significant margin improvement when operating results for the quarter are finalized.
In addition, the company saw tire revenue exceed $80,000 for the month of October. This was the highest monthly tire revenue for the company since December 2009, and represented a 35% increase year over year. CEO Timothy Ruddy was excited about the results. "The Company saw significant growth in the third quarter, and again in October, as the Hutchins facility continues to perform extremely well across all relevant metrics. Going forward, the company expects revenue from the gasification side of the business to lead as the company's pilot project is completed, and other projects currently in development start to generate revenue."
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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