VISTA Swings to Quarterly Profit on 100% Rise in Revenues
Denver, CO - November 30, 2009
-- Vista International Technologies, Inc. (OTC BB: VVIT)
is pleased to announce the results of its third quarter ended September
30, 2009. The company reported its first profitable quarter in more than 2 years on a surge in revenues, and strengthened its balance sheet
through cost cutting and debt reduction. The company also reported significant progress on the deployment of its efficient waste-to-energy
technology, the Thermal Gasifier.
VISTA reported net income of $61,000, as quarterly revenues more than doubled from the prior quarter, reaching just over $278,000. In addition,
the company's current restructuring plan has shown significant progress, with current liabilities being reduced by over $100,000, and assets
increasing by more than $40,000 as compared to second quarter numbers.
CEO Thomas Pfisterer was pleased with the results of the company's current quarter, stating "The results from the third quarter show the progress
of management's strategy to increase revenues and tighten cost controls. VVIT is one of few companies in the nation to report 100% revenue growth
quarter over quarter. Looking ahead, we want to use the seasonally slow winter months at our tire processing facility to fine tune the operation
for further increases in revenue next year, and devote all available free cash to the rollout of the Thermal Gasifier in the Italian demonstration
project, and other projects in development." The company expects to finish the remainder of its restructuring in the fourth quarter. Mr. Pfisterer
remarked, "We plan to be earnings and cash flow positive going forward from January 1, 2010, and will continue working to strengthen the balance
sheet, reduce debt, and increase revenue to produce the strongest company possible
Mr. Pfisterer also had enthusiastic comments regarding the company's waste to energy division. "We have made considerable progress on the
gasification side of the business, and expect a number of positive announcements in the coming days and weeks. Our goal is to prove to the
renewable energy industry what we already know - that the Thermal Gasifier is the optimal solution for conversion of waste to energy, regardless
of whether that desired energy is in heat, electricity, or combined heat and power(CHP) applications."
For more information, please call Dana Chaves at 303 690 8300.
Statements in this press release other than historical facts are "forward-looking" statements within the meaning of section 27A of the Securities
Act of 1933, section 21E of the Securities Exchange Act of 1934. Since these statements involve risks and uncertainties and are subject to change
at any time, the Company's actual results could differ materially from expected results. Future operating results of the Company are impossible to
predict and no representation, guaranty, or warranty is to be inferred from those forward-looking statements. Readers are advised to review the
"forward looking statements" included in our reports which are filed with the Securities and Exchange Commission.
¨C Thomas P. Pfisterer,