MONTREAL, Aug. 16, 2021 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (NASDAQ: PYR) (TSX: PYR) (FRA: 8PY), a high-tech Company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions to reduce greenhouse gases (GHG), is pleased to announce today its financial and operational results for the second quarter ended June 30th, 2021.
“We are happy to be announcing financial results for Q2 2021 and, once again, they are historical. As can be seen from the table below, net income from operations (not including share-based expenses) was profitable at $850K, on record quarterly revenues of $8.3MM (a 32% increase Q1 over Q2 2021). This is the fourth quarter in a row that PyroGenesis has posted more revenues in each quarter than for all of 2019, and the Company is on track to exceed the record revenues of 2020,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “Not only is PyroGenesis posting record revenues, with an overall gross margin of 59.6%, but the Company’s backlog of signed contracts is increasing at the same time, which bodes well for the future. We expect this trend to continue.”