MyCelx Technologies Corporation Trading Update (9022P)
13 February 2019 - 9:22PM
UK Regulatory
TIDMMYX TIDMTTM
RNS Number : 9022P
MyCelx Technologies Corporation
13 February 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU No. 596/2014) ("MAR"). This inside
information is now considered to be in the public domain.
13 February 2019
MYCELX TECHNOLOGIES CORPORATION
("MYCELX" or the "Company")
Trading Update
Record revenue and profit achieved in 2018
MYCELX Technologies Corporation (AIM: MYX), the clean water
technology company providing patented solutions for the Oil and Gas
market and commercial industrial markets worldwide, is pleased to
announce record revenue, EBITDA and net profit in 2018, according
to its preliminary unaudited results.
The Company exceeded previous guidance by achieving $26.95m in
revenue, EBITDA of $5.59m and $3.07m in net profit thanks to an
increase in activity in the final month of the year. The financial
information presented has been extracted from the unaudited results
and could be subject to possible change following the completion of
the Company's year-end audit process. MYCELX's final fully audited
results are expected to be released in May 2019. These results
confirm 2018 as the most successful in the Company's history and
are significantly ahead of MYCELX's original revenue guidance of
$21.5 million to $22.5 million for 2018. Subject to current market
conditions continuing, the Company expects its ongoing momentum
will raise 2019 revenue higher than the record levels achieved in
2018.
Commenting on the market update, Connie Mixon, CEO said:
"I am very pleased with the considerable commercial progress
MYCELX made during 2018, resulting in almost doubling the Company's
revenues over 2017. Underpinning these results is the strong
performance of the Company in Saudi Arabia where the team have
generated momentum from repeated successful deployments of our
rental fleet to meet customers' urgent requirements. We are looking
forward to our focussed business development efforts continuing to
convert a pipeline of opportunities into further purchase orders in
2019."
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO Tel: +1 888 306 6843
Kim Slayton, CFO
Cantor Fitzgerald Europe - NOMAD and Broker
David Porter Tel: +44 20 7894 7000
Richard Salmond
Celicourt Communications
Mark Antelme Tel: +44 20 7520 9266
Jimmy Lea
Notes to Editors
MYCELX is a revolutionary oil-free water technology company
solving the world's toughest oil removal problems in the oil and
gas industry. The systems are based upon scientific breakthrough
for a completely different approach to permanent oil removal. The
Company created the patented MYCELX polymer using innovative
molecular cohesion for removing oil from water far beyond what
conventional systems have ever achieved. MYCELX systems remove oil
to critically low levels in a much smaller physical footprint than
conventional systems and in a virtually fail-safe process.
www.mycelx.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTSFUFSDFUSEFE
(END) Dow Jones Newswires
February 13, 2019 05:22 ET (10:22 GMT)
Mycelx Technologies (LSE:MYX)
Historical Stock Chart
From Apr 2024 to May 2024
Mycelx Technologies (LSE:MYX)
Historical Stock Chart
From May 2023 to May 2024