Vista Reports Solid Revenue Growth, Gross Profit Increases by over 1200%
Denver, CO - November 14, 2013
-- Vista International Technologies, Inc. (OTC BB: VVIT),
is pleased to announce operating results for the quarter ended September 30, 2013. The full results are available online in the EDGAR database, in the Company's quarterly report (10-Q) 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:
• Nine month revenue increased 18% year over year to $598,000. This revenue increase was particularly noteworthy as the Hutchins tire facility
was not shipping tire derived fuel for much of the quarter, as certain equipment was being upgraded. Had the Hutchins facility been operating at normal capacity, revenue
would have been $75,000-$90,000 higher. The work at the Hutchins facility is now complete, and the facility will be shipping at increased capacity in the fourth quarter.
• Nine month gross profit increased 1260%, to a profit in excess of $80,000. The gross profit increase was driven by the higher revenue listed above, increased removal of tire material from the Hutchins site, along with reduced growth in production costs
• Nine month net interest expense decreased by over 16%, or $31,000, as the company continued to pay down debt and settle outstanding balances with its creditors .
CEO Tim Ruddy was pleased with the results. "Vista made a significant amount of progress during the third quarter of 2013. The Company continued on track with its waste to energy project,
and is moving toward a fourth quarter installation of the Thermal Gasifier unit. The recently completed upgrades at our Hutchins facility have increased our TDF production
capabilities by over 25%, with additional cost savings on electricity and process water. Finally, the closing of the previously mentioned $5-6 million investment into the company
is on track to close in the fourth quarter, and will allow the company to fully execute its business plan and associated growth strategy."
For additional information on the company or the contents of this release, please contact Tim at 303 690 8300,