LAS VEGAS, May 21, 2008 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company's revenue increased by 229 percent for the First Quarter, 2008. MetaPower International generated $1,604,910, in contrast to the $488,148 reported revenue for the same time period last year. In addition, the First Quarter 2008 revenues represent a 33% increase over the Company's 2007 Fourth Quarter revenues of $1,210,241.
MetaPower International generates revenue from monthly installments for its consulting services and UCoDA maintenance fees. The Company generated over $333,000 in profit (EBITA) from operations in the First Quarter. The Company has licensed its UCoDA Business Process Management Tool for use on projects with clients such as Wolf Creek Nuclear Generating Station and a major Canadian Oil Sands Energy company.
MetaPower International's majority-owned subsidiary, MetaPower Canada, generated $524,977 in revenue for March 2008. The Company recently announced that sales efforts in the Alberta Oil Sands region have resulted in a $4,000,000 purchase order.
"Our First Quarter performance has exceeded our goal and is well on track to meet our official revenue forecast for 2008 of $6,000,000 with profits of $1,000,000. We have remained consistent with our business model and continue to develop our new Process Safety Management product due out in the Fourth Quarter of this year," stated Ken Allen, CEO of MetaPower International, Inc.
To view the Company's First Quarter Report, please visit the following link: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=mtpw#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.
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.