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CORRECTED: Ridgeline Reports Fiscal Year 2012 Financial Results

(Here is a corrected version of the Ridgeline result from late Tuesday afternoon)

Ridgeline Energy Services Inc. (RLE.V), an energy services and water treatment company, announced the financial results for its fourth quarter and fiscal year 2012 ending March 31, 2012.

FY 2012 Highlights:

- Total revenues of $15.5 million, an increase of 38% compared to the same period of the prior year.

- Total assets have climbed from $9.6 million to $38.1 million with cash of $4.6 million before the most recent equity raise.

- Completed the acquisition of Danzik Hydrologic Sciences, a leading provider of water treatment technologies, paving the way for Ridgeline to address the growing industrial and oil and gas wastewater markets

- Expanded Ridgeline GreenFill soil remediation sites from one to three with the addition of facilities in Lloydminster and Redcliff

For the fiscal year 2012, Ridgeline reported revenue of $15.5 million versus $11.2 million in the comparable period last year, an increase of 38%. These results reflect the company's entry into the water treatment market via the acquisition of Danzik Hydrologic Sciences as well as continued growth in the company's Ridgeline GreenFill operations. Ridgeline reported an operating loss of $1.9 million versus an operating loss of $637,000 in the comparable period of the prior year. Net loss totaled $1.9 million, or a $(0.03) per basic and diluted share compared to a net loss of $1.3 million or $(0.02) per basic and diluted share in the prior year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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