April 30, 2008 09:23 ET

Baden Announces 2007 Financial Results

CALGARY, ALBERTA--(Marketwire - April 30, 2008) - Richard Ball, Chairman of the Board of Directors of Baden Technologies Inc. (TSX VENTURE:BDZ), is pleased to announce financial results for the fiscal year ended December 31, 2007.

Overall, 2007 was marked by both the Company's success in gaining major inroads into the Russian market and the unfortunate market circumstance of the strengthened Canadian dollar vis-a-vis the weakened US dollar. Success in the Russian market bolstered revenue to $13,876,971 or 59% over last year's total of $8,717,693. Despite this tremendous growth, the strengthened Canadian dollar - and it's resultant increase in input costs - contributed largely to this year's net loss of $554,265 or $0.03 per share compared to net income of $604,609 or $0.04 per share last year.

During the year, Baden designed and fabricated three FSI Brine Plants, as well as maintaining its relative sales strength in the domestic oil and gas market.

Financial Highlights Year ended Year ended
December 31, 2007 December 31, 2006
Revenue $13,876,971 $8,724,917
Earnings (loss) before interest, taxes,
depreciation and amortization (EBITDA) (309,799) 767,968
Profit (Loss) for the period (554,265) 604,609
- per share (weight average, basic) ($0.030) $0.036


Demand for FSI International Brine Plants continues to increase for fiscal 2008. The company is currently negotiating contracts for three Brine Plants to be fabricated and shipped in 2008. Additionally, demand for the Company's filtration and filtration-related products is entering a growth phase, particularly with service projects in the oil sands of northern Alberta and northwest Saskatchewan. Baden has positioned itself as the leading supplier in both the Russian Brine Plant market and the domestic ultra-filtration market. Both areas are expected to continue to grow quarterly over previous years.

Complete financial statements are available on

Through its wholly owned subsidiary FSI International Services Ltd., Baden Technologies Inc. is a Calgary-based manufacturing and service company specializing in customized filtration, filtration-related technologies and Brine Plants for the international and domestic energy and chemical industries.

This press release contains forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances or achievements of Baden to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, fluctuations in the market for oil and gas and related products and services, political and economic conditions, the demand for services provided by Baden, industry competition and Baden's ability to attract and retain both customers and key personnel.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Baden Technologies Inc.
    Richard Ball
    President and CEO
    (403) 571-7230
    (403) 230-3106 (FAX)