Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Biorem Inc V.BRM

Alternate Symbol(s):  BIRMF

Biorem Inc. is a Canada-based clean technology company. The Company designs, manufactures and distributes a line of air emissions control systems used to eliminate odors, volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). It operates through one reportable segment, which involves the manufacture and sale of pollution control systems. Its solutions include BASYS and BiofiltAIR biofilter, MYTILUS biotrickling filter, multi-stage SYNERGY system, biogas desulfurization, dry scrubber adsorption systems and cannabis odor control. Its BASYS and BiofiltAIR biofilter systems are suited for odor control applications, especially when removing reduced sulfur compounds or VOCs. It offers biofiltration medias, which include BIOSORBENS, XLD, BIOPAK and BIOROLL & BIOBLOK. The Company's service solutions include system upgrades, preventative maintenance, and replacement and spare parts. Its other services dispersion modeling, permit applications and community outreach programs.


TSXV:BRM - Post by User

Comment by Possibleidiot01on Apr 11, 2024 1:42pm
123 Views
Post# 35983776

RE:RE:New Press Release - Biorem Reports 2023 Financial Results including $0.14 earnings per share

RE:RE:New Press Release - Biorem Reports 2023 Financial Results including $0.14 earnings per share

What can I say, your target has pretty much been reached so I feel wealthier?

My take on the results isn't as bullish as the markets where I think the company is trading on the outlook and management's capabilities ( which I wouldn't bet against and so I am not selling) .

Revenues down year over year.

Gross profit down year over year .

Here's the biggest factor in the market reaction , operating expenses way down - $1,329,00 for Q4 vs $2,594,000 in 2022 and for the year $3,959,000 vs $6,121,000 in 2022.

How did they achieve this?

"The $ 1.2 million decrease in operating expenses year over year was due to a decrease in commission expenses on the reduced revenues, the reversal of $373,000 in credit loss provisions that had been recorded in 2022, and one time legal and settlement expenses incurred in 2022 of approximately $700,000 related to the settlement of a long standing lawsuit."

Two one time items and the commissions paid vary quarter to quarter with completion of projects.

"Total order bookings for the year were $36.5 million , a 3% decrease in bookings over the record bookings in 2022 of $37.7 million . The Company's order backlog stood at $50.1 million on December 31, 2023 compared to $38 million on December 31, 2022 .

"Revenue in the fourth quarter of 2023 was $12.2 million compared to $5.5 million in the previous quarter and $10.9 million in the fourth quarter of 2022. Orders booked in the quarter totaled $7.9 million ."

vs Q3

"During the quarter the Company booked $8.2 million in new orders resulting in another record order backlog of $54.5 million on September 30, 2023 compared to an order backlog of $51.5 million on June 30, 2023 and $43 million on September 30, 2022.

The backlog seems to be shrinking but we know, from a Youtube presentation, a quote a day went out in January so this is probably temporary.

And then there's the outlook
 

"Management looks forward to beginning the next phase of the Corporation's development", said Derek S. Webb , President and CEO.  "A strong backlog; healthy bidding activity and a number of exciting new products introduced and under development promise to provide us with the tools necessary to achieve growth in 2024."

"We are particularly excited about expanding both our organic as well as inorganic growth initiatives.  The market has been responsive to our new introductions and we expect the same level of interest with the next offering of complimentary technologies.  A number of new initiatives are underway with results expected to begin to be realized within the coming quarters.  All in all, a very exciting period for our company."

"





 

 

 

 

 

 



<< Previous
Bullboard Posts
Next >>