November 28, 2008 11:19 ET

Baden Announces Interim Financial Results for 2008 Q3

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2008) - Richard Ball, Chairman of the Board of Directors of Baden Technologies Inc. (TSX VENTURE:BDZ), is pleased to announce interim financial results for the nine months ended September 30, 2008.

During the quarter, Baden realized record domestic revenue, which included several filtration service projects in Fort McMurray area of Alberta. Contract timing resulted in no Brine Plant contract revenue for the period.

Financial Highlights Three months ended Three months ended
September 30, 2008 September 30, 2007
Revenue $1,710,243 $1,199,475
Earnings (loss) before interest,
taxes, depreciation and
amortization (EBITDA) 100,820 (214,303)
Profit (Loss) for the period 49,546 (279,201)
- per share (weight average, basic) 0.00 (0.02)


Despite the recent market turmoil, demand for FSI International Brine Plants continues to remain strong. For fiscal 2009, the company expects sales of up to three Brine Plants to be fabricated and shipped during the year. Additionally, demand for the Company's filtration and filtration-related products remains strong despite the recent weakening of the price of oil. 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 be stable or even grow slightly on a quarter-over-quarter basis.

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)