Vista Revenue Rises 45%, Net loss Decreases by 68% for Full Year 2012
Denver, CO - April 16, 2013
-- Vista International Technologies, Inc. (OTC BB: VVIT),
is pleased to announce the Company's operating results for the year ended December 31, 2012. The full results are available online in the EDGAR database, in the Company's annual report (10-K) filed with the SEC, and the Company encourages all interested parties to read the report in full. A summary of financial highlights are listed below:
• Revenue increased 46% to $683,200, from $467,000 in the year ended December 31, 2011.
• Gross profit increased 152%, to a profit of $157,800, versus a loss of $300,900 in 2011
• Loss From Operations shrank by more than 80%, to a loss of $184,900, versus a loss of $965,000 in 2011.
• Net Loss decreased 68% to a loss of $350,000 versus a loss of $1,110,000 in 2011.
Overall, the Company saw significant a revenue increase due to increased sales of processed tire material. Results were aided by overhead and operating cost reductions as the company's restructuring plan began to show results. Also, the removal of a significant amount of tire material from the Company's Hutchins, Texas tire processing facility decreased the Company's environmental remediation expense.
CEO Tim Ruddy was pleased with the results. "Vista made a significant amount of progress in 2012 on number of fronts. Aside from the improved results at the Hutchins tire facility which show up in the income statement, the company made real progress on the gasification side of the business in 2012, with an agreement to site the first third generation Thermal Gasifier at the Company's northeastern US pilot Waste-To-Energy project, and the significant interest generated by the Company's ultra portable unit. In 2012 the Company established a strong base from which it can grow and expand in the coming months and years, with the help of the recently announced $6 million planned investment into the company"
For additional information on the company or the contents of this release, please contact Tim at 303 690 8300,