BluMetric Environmental (TSE:BLM) has released an update.
BluMetric Environmental Inc. reported a decrease in revenue to $8.5 million for Q1 2024 from $10.5 million the previous year, alongside a dip in net earnings from $0.5 million to $0.2 million, despite improved gross margins to 42%. The company highlighted a strong balance sheet and a record order backlog, with strategic investments aimed at expanding their cleantech systems’ geographical reach and launching a new O&M division. BluMetric also secured a $5.3 million contract extension with the Department of National Defence and a $0.4 million contract with a multinational defence contractor.
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