LAS VEGAS, Nov. 19, 2008 (GLOBE NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPR) is pleased to announce that the Company has posted its third quarter financial report on Pinksheets.com. The recent round of financial filings for the Company has shown improved Earnings per Share of $0.09 cents, showing undervaluation in its common stock which is currently trading at $0.04 cents. The Company has included a letter to shareholders from President Ken Allen outlining the Company's goals to increase shareholder and market values.
MetaPower International's revenues for the third quarter were $2,057,446, an increase of 88% over the same period in 2007 which saw gross revenues of $1,091,836. The Company's profits for the third quarter were $319,057, an increase of 104% over third quarter 2007 profits of $155,941. MetaPower International is on track to meet its 2008 primary goal of reaching $6 million in revenues by year's end, after already posting revenues of over $5.5 million in the first three quarters. In addition, the Company expects to exceed its net profit goal of $1 million. This quarter marks the seventh consecutive quarter of growth in revenue for MetaPower International.
"We believe the current business growth, plus the anticipated growth of our new products put MetaPower International on a strong 60% annual growth path for the next several years. With the tremendous undervaluation of our current stock price, this makes an investment in MetaPower a unique opportunity," stated Ken Allen, President of MetaPower International, Inc.
To view the Company's filing, please visit: http://pinksheets.com/pink/quote/quote.jsp?symbol=mtpr#getFilings
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.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.