BIOREM Inc Posts Quarterly Results

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Clean technology company BIOREM Inc. (BRM.V) today announced results for the three month period ended March 31, 2013.

Revenues for the quarter totaled $4,185,000 a 28% increase over revenues of $3,267,000 recorded during the first quarter of 2012. The increase in 2013 first quarter revenues is a result of strong order bookings in 2012.

Gross profit increased by $720,000 to $1,100,000 for the quarter representing 26.3% of revenue compared to $380,000 of gross profit achieved in the first three months of 2012 representing 11.6% of revenue. This increase in gross profit was the result of increased revenues and from increased margins on projects completed.

Operating expenses in the quarter of $985,000 were $122,000 higher than in the same period in the previous year and were largely the result of an higher sales commissions earned on the revenue recorded.

The company's cash position stood at $1.6 million on March 31, 2013, compared to $2.5 million held on December 31, 2012.

The company succeeded in booking new orders totalling $5.2 million in the Quarter which increased the backlog at the end of the Quarter to $18.9 million.



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