LAS VEGAS, Aug. 1, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has released its financial results for the first quarter of fiscal year 2007 ending March 31, 2007. Final accounting shows that MetaPower International, Inc. sales revenues increased to $493,228 from previously announced numbers and is an increase of 55% over the first quarter of 2006.
The Company generated over $179,817 in gross profits in the first quarter of 2007. During this quarter, MetaPower organized a Canadian subsidiary, MetaPower Canada, Ltd., which is half owned by MetaPower International. MetaPower Canada began operations on March 3, 2007, and contributed $227,110 of consolidated revenue to MetaPower results. MetaPower Canada is providing software and consulting services in the Oil Sands industry in Northern Alberta, Canada, one of the fastest growing industrial segments in North America.
"The first quarter of 2007 was a significant step forward in achieving the goals set forth in our business plan. The strong growth in revenue is a result of our business development efforts and is expected to continue as we execute the plan. We expect to release second quarter results for MetaPower International, Inc. in mid August," stated Ken Allen, CEO of MetaPower International, Inc.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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