CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

November 14, 2007 19:14 ET

CCR Technologies Ltd. Reports Third Quarter 2007 Results

CALGARY, ALBERTA--(Marketwire - Nov. 14, 2007) - CCR Technologies Ltd. (TSX:CRL) (the "Corporation") (www.reclaim.com), a leading chemical purification technology solutions and service provider, today announced financial results for the period ended September 30, 2007.

For the three months ended September 30, 2007, the Corporation reported revenue of $3,423,000 resulting in a net loss of $506,000 as compared to revenue of $2,452,000 and a net loss of $840,000 for the same period in 2006 and revenue of $1,745,000 and a net loss of $1,857,000 in the prior quarter. For the nine months ended September 30, 2007, the Corporation reported revenue of $6,721,000 resulting in a net loss of $4,011,000 as compared to revenue of $7,039,000 and a net loss of $2,023,000 for the nine months ended September 30, 2006. Complete details of the Corporation's annual financial and related information are available on SEDAR at www.sedar.com

CCR's CEO Tom Coyne noted that "we are pleased to report continued progress in our plan to substantially increase the value CCR creates for its clients and shareholders. Improved production at our mobile reclaiming project in the Middle East, consistent levels of mobile reclaiming revenue in North America and new engineering contracts all contributed to growth in our revenue."

"While we had an unusually large amount of non-cash charges due to the early repayment of our convertible debenture and changes in exchange rates, we were very pleased to deliver a substantial improvement in our EBITDA (earnings before interest, taxes, depreciation and amortization, foreign exchange and stock compensation expense), which increased from a negative $551,000 for the three months ended September 30, 2006 to positive $483,000 for the three months ended September 30, 2007."

CCR Technologies purifies process chemicals and natural gas through the use of proprietary patented separation technologies. The Corporation provides environmental and economic benefits to the upstream and downstream oil and gas industries, and is also pursuing new environmental business opportunities in other industries and international markets.

Shares of CCR Technologies Ltd. trade on the Toronto Stock Exchange under the symbol "CRL".

The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond CCR's control, including: the impact of general economic conditions in Canada and in countries in which CCR and its subsidiaries currently do business, industry conditions, increased competition, the lack of available qualified personnel or management, equipment failures, fluctuations in product prices and in foreign exchange or interest rates and stock market volatility. CCR's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits CCR will derive there from.

Contact Information

  • CCR Technologies Ltd.
    Tom Coyne
    President and CEO
    (403) 543-6699
    Website: www.reclaim.com