Tuesday, 30 April 2013

IWG’s Growth Gaining Momentum

IWG Technologies (TSX-V: IWG)
Basic Shares: 37.6 million
Fully Diluted: 39.7 million

IWG released its second quarter financials for fiscal 2013 showing that management’s solid focus on earnings and growth are paying off.

Revenue was up 25% over last year’s Q2 at $1.84 million while income was up 400% at just over $450 thousand. This year’s second quarter results provided net earnings of 0.7 cents per share compared to 0.3 cents per share the previous year, or 1.0 cents compared to 0.6 cents on a year-to-date basis.
“Revenue has shown steady growth in existing contracts, new products and new customers,” said Bruce MacCoubrey, President and CEO of IWG. “With the completion of the development phase of the FACC contract during the third quarter, the Company will soon be making initial deliveries of its Compact Water Systems.”

To view the news release, please click here...