H2O Innovation Inc. (HEO.V) – which soared near 7% to 52 week highs on the TSX Venture Exchange yesterday – announced Tuesday its results for the fourth quarter and fiscal year ended June 30, 2016, and outlined its strategic outlook for fiscal 2017 considering the transforming acquisition closed in July 2016, and the new products launched since the beginning of this new fiscal year. Among key highlights of fiscal year 2016, revenues reached $50.7 million, up from revenues of $48.7 million for fiscal year 2015.
Gross profit margin was at 30.7%, an increase compared to the 27.9% gross profit before depreciation and amortization generated in fiscal year 2015. Adjusted EBITDA was at $2.9 million, which is a 5.7% ratio over revenues. It compared with $3.1 million during prior fiscal year In its strategic outlook for fiscal year 2017, H2O Innovation talked up a new business model with “now three strong business pillars.” It talked up a solid backlog of $99.7 million, combining secured contracts for water treatment projects and operating and maintenance, as of September 26, 2016. And it talked up commercialisation of new proprietary technologies recently developed.
The stock decreased 5.26% or $0.1 on September 27, hitting $1.8. About 116,658 shares traded hands or 145.27% up from the average. H2O Innovation Inc (CVE:HEO) has risen 6.00% since August 29, 2016 and is uptrending. It has underperformed by 5.70% the S&P500.
H2O Innovation Inc. is a Canada-based company, which is engaged in providing integrated technological water treatment solutions based on membrane filtration technology to municipal, energy and mining end users. The company has a market cap of $39.68 million. The Firm is also engaged in delivering drinking water and process water production, and wastewater treatment systems, including related services. It has a 63.31 P/E ratio. It creates water treatment projects for the production of drinking water and industrial process water, the reclamation and reuse of water, and the treatment of wastewater, while providing a complete line of specialty chemicals, consumables and stainless steel couplings for membrane filtration and reverse osmosis systems.
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