Sofame Issues Guidance on Profitability in Q1 (TSXV: SDW)
Sofame announced that it expects to report revenue of $529,000 for the first quarter of fiscal 2012 ending December 31, 2011, and net profit of $72,294 (12%). A year earlier revenue was $602,276 and the company showed a loss of ($267,544).
CEO John Gocek said Sofame, as it swings back from the recession, has won five orders for industrial heat recovery systems in the last seven months, together worth $1.78 million. Four are being built or are being installed.
"The profit and margin improvements are due not only to higher sales but also to the cost reductions we've achieved over the past two years." According to Gocek, "Investors are starting to see the desired results."
|Sofame to Manufacture Heat Recovery Equipment for MaineGeneral Medical Center in Augusta, ME.
Percotherm Optimizes Recovery of Waste Heat
Sofame received the new order for the Percotherm® heat recovery system from MMC Contractors National in Kansas City, Missouri, who are designing and building the new 192-bed hospital. Engineering of the Sofame system into the project was done Todd Chase P.E., NCEES, LEED®AP who is an ASHRAE Certified Healthcare Facility Design Professional and Senior Mechanical Engineer with by SMRT of Portland, Maine. (www.smrtinc.com) Sofame's Representative in Maine is New England Mechanical of Portland. This is Sofame's first sale of a system north of New York, and positive indicator of improving sales performance.
The Sofame direct-contact condensing stack economizer heats water as it percolates down the stainless steel tower where it comes in direct contact with the heated air going up your boiler's flue. The result? Generation of hot water at temperatures up to 140-degrees F with:
- up to 100% efficiency!
- immediate results
- no 24 hour supervision
- and minimum maintenance.
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|So Energy Efficient. Sofame.|