Vista Sees Revenue Growth of 35 Percent, Positive Net Income in 2014
DENVER, CO--(Marketwired - Dec 19, 2013) - Vista International Technologies, Inc. (OTCQB: VVIT), a pioneer in efficient waste-to-energy (WTE) technology, is pleased to give investors an update on its revenue and income expectations for the fourth quarter of 2013 and full year 2014.
The Company expects revenue in the fourth quarter of 2013 to exceed $260,000, which represents a rise of 45% from 2012 levels. This sizeable increase is due to the expansion of the Company's gasification operations, coupled with steady performance from its Hutchins tire processing facility. The recently completed upgrades at the Hutchins facility have allowed the facility to operate with greater efficiency, and will result in increased profitability for the company in the fourth quarter, and moving forward into 2014. The company expects to be net income positive in the fourth quarter, excluding consulting fees paid to aid in the setup of European operations.
For the full year 2014, the company expects revenue to increase roughly 35% from 2013 levels, topping $1,150,000. This revenue surge will result from solid growth from our gasification segment, and increased sales of processed tire material at the Hutchins facility. In addition, the Company expects to be net income positive for full year 2014. These revenue and income projections are considered to be conservative in nature, as they are based on contracts currently in place and continued operations with our trusted business partners, and do not include revenue from projects currently under discussion but not under contract.
CEO Timothy Ruddy was enthusiastic about the current numbers and expectations for 2014. "The Company will finish 2013 on a solid note, and is gaining momentum as it heads into 2014 -- a year which will be marked by solid domestic growth and expansion into new markets. Management feels strongly, based on current interest levels in our technology, that we will begin construction on 2 to 3 new waste-to-energy projects during 2014."
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, please call 303 690 8300, or email us at info@vvit.us.
