SOURCE: Budget Waste Inc.

August 11, 2008 11:00 ET

Budget Waste Announces Substantial Increase in First Quarter Profits

CALGARY, AB--(Marketwire - August 11, 2008) - Budget Waste Inc. (PINKSHEETS: BDGW) is proud to announce their Financials for the period ending June 30, 2008. Operational Profits went from a loss of $685,955 one year ago to a profit of $47,296. The company's gross margins also increased this quarter to 29% as compared to 19% for the previous year, an increase in efficiency resulting in an increased gross profit, one up by 350K.

Jim Can CEO says he is "exceedingly pleased with these results which confirm the systems and procedures that we have implemented work!" Management would like shareholders to know that with over $13 million in assets the company meets most of the requirements for a larger, nationally listed exchange. We will continue to improve operation efficiencies.

A full audited financial statements report, including an analysis and discussion, of the company's operating results can be found on www.pinksheets.com. A summary of the company's operating results for the three-months ending for June 30, 2007-2008 are as follows:


                                                 June 30,       June 30,
                                                  2008            2007
                                            ---------------   ------------
                                                  USD$            USD$
                                            ---------------   ------------
Revenues                                          3,419,486      3,384,667
Cost of Sales                                     2,418,232      2,732,214
Gross Profit                                      1,001,254        652,453
General and Administrative expenses                 953,958      1,338,408
Income (Loss) for the Quarter before Other
 Items                                               47,296       -685,955
Basic Income (Loss) per share               $          0.04   $      (0.02)
Total assets                                     13,587,173     12,610,029

BDGW Forward-looking statements

Certain statements made by management and contained in this release issued by Budget Waste Inc. (the "Company") that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the Company, its directors, or its officers about the Company and the industry in which it operates and are based on assumptions made by management. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.

Budget Waste Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients. With our broad range of innovative services we offer our customers more value for their dollar and reduce accounting costs by providing streamlined billing. BWI is currently following its growth through acquisition strategy with exceptional success. With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products we see vast opportunity for expansion of our distinctive services. We are confident that Extraordinary growth and focus on customer needs will bring our stockholders outstanding value for the confidence they have placed in BWI.

For more information on Budget Waste Inc., please visit our web site at www.budgetwaste.com or contact our investor relations department at:

Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third- party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.

Contact Information

  • Budget Waste Inc.
    Investor Relations

    3915 - 61st Ave. SE.
    Calgary, AB T2C 1V5
    Ph. 403-255-2900
    Toll Free 1-888-255-2990
    Fax: 403-255-3237
    Email: Email Contact