Brisben Water to Report Record 2011 Year-End Revenues Exceeding $20M
Company Delivers Two Ozonix EF80 Units in Q4 to Hydrozonix and Receives Purchase Order for Units 5 and 6
STUART, Fla., Jan. 4, 2012 (GLOBE NEWSWIRE) -- Brisben Water (OTCBB:ESPH), a diversified water engineering, technology licensing and environmental services company, today announced that it will report over $20M in revenue for 2011 and that it and its majority-owned subsidiary, Brisben Water Energy Services, LLC have received the purchase order for units 5 and 6 to be delivered in Q1 of 2012. This purchase order follows the on-schedule delivery of units 3 and 4 in Q4 2011 of a 16 unit, $45M contract with Hydrozonix, LLC.
Adrian Goldfarb, Chief Financial Officer of Brisben Water Technologies, stated, "We will report over $20M in revenue for 2011 which more than doubles our performance in 2010. With revenue greater than $8M in Q4 2011, we will report a 228% revenue increase versus the comparative quarter in 2010. In addition to solid revenue growth, we have made significant strides in reducing our debt from $3.1M to $2.3M."
Charles Vinick, Chairman and Chief Executive Officer of Brisben Water Technologies, stated, "2011 was a milestone year for Brisben Water's financial growth and increased technical capability. Our results in 2011 have demonstrated our focus on a number of key financial metrics including revenue growth, improvements in working capital and increased cash flow from operations."
Robbie Cathey, Chief Executive Officer of Brisben Water Energy Services, LLC stated, "Hydrozonix has had great success introducing themselves and the latest Ozonix EF80 technology to the U.S. oil and gas market. During its first 90 days in operation, Hydrozonix has already processed approximately 100 million gallons of flowback and produced water for its customers in the Permian Basin, Eagle Ford Shale and Marcellus Shale. For 2011, Brisben Water Energy Services expanded its operations in the Fayetteville Shale by approximately 34%, resulting in increased revenue generation and profit margins. We look forward to working with Hydrozonix in 2012 to continue our growth in the U.S. market."
About Brisben Water Technologies:
Brisben Water (OTCBB:ESPH) is a diversified water engineering, technology licensing and environmental services company that designs, develops and manufactures wastewater treatment solutions for industrial markets. The Company provides environmental services and technologies for use in large-scale and sustainable applications across industries, nations and ecosystems. Brisben Water is driving clean water innovation with its patented Ozonix advanced oxidation technologies and its mobile, low maintenance water treatment systems. Brisben Water's patented Ozonix technology is a high volume, advanced oxidation process designed to recycle water while reducing liquid chemicals used during water treatment applications. For more information, please visit Brisben WaterTech.com
About Brisben Water Energy Services, LLC:
Brisben Water Energy Services, LLC is the exclusive master licensee of Brisben Water's patented Ozonix technologies for domestic and global energy applications. The Ozonix process provides energy exploration companies with a cost-effective method to kill bacteria and biofilms without the use of chemical biocides and scale-inhibitors. For more information, please visit Brisben WaterTech.com/divisions/Brisben Water-Energy-Services
Brisben Water's Ozonix services are available to the U.S. onshore oil and gas exploration and production market exclusively through Hydrozonix, LLC. For more information, please visit www.Hydrozonix.com
About Hydrozonix, LLC:
Hydrozonix, LLC provides mobile, high rate, environmentally-friendly water treatment solutions to the U.S oil and gas exploration and production industry using Brisben Water's patented Ozonix technologies. Hydrozonix is a strategic alliance between the principals of Ely & Associates, Inc., Phillips and Jordan, Inc., and Siboney Contracting Company. For more information, please visit www.Hydrozonix.com
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CONTACT: Investor Relations Contact:
Gerald Kieft / Sean Marconi
The WSR Group
772-219-7525
Brisben WaterIR@wallstreetresources.net
http://www.WallstreetResources.net/Brisben Water.asp
Press and Media Relations Contact:
Corey McGuire
Brisben Water
772-287-4846
cmcguire@Brisben WaterTech.com
