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Questor Technology (V.QST) rings in 120% profit increase for quarter

Stockhouse Editorial
0 Comments| August 28, 2014


Questor Technology (TSX: V.QST, Stock Forum) pushed forward profits when the company announced financial results from its Q2 2014 today, noting revenues of $4.5 million, a 99% increase over the matching 2013 quarter.
 
According to the news release, the company also filed a 120% jump in profit of $1.39 million or $0.055 per basic share compared to a profit of $634,176 or $0.025 per basic share reported in the same 2013 quarter.
 
The bump in profits was attributed to higher revenues resulting from the increased volume of incinerators and the mix of capacities of the units sold and increased rental revenues.
 
Cost of sales was down for the quarter which also added to profitability, however lower revenues from incinerator and combustion services combined with higher administration costs and higher income tax expense negatively impacted the bottom line.
 
Company President and CEO, Ms. Audrey Mascarenhas, commented on the results, “The heightened environmental focus on emissions from flaring, climate change and the health concerns arising from the impacts of poor air quality have created a significant market opportunity for Questor domestically and internationally.”
 
She went on, “It has become essential for our clients to address these issues to obtain approval for projects and the social license to operate.”

Then she summed up, “As the U.S. adopts the new EPA rules, we are seeing the demand for our products continue to develop in both the sales and rental businesses. We have an inventory of units available and have fabrication partners with sufficient capacity to meet new orders.”
 
Questor Technology was in the news recently when the Calgary-based company announced financial results for Q1 2014 back at the end of May.
 
Shares climbed 10.31% on the news to $4.28 per share.
 
Currently there are 25.8m outstanding shares with a market cap of $110.0 million.


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