April 27, 2007 16:05 ET

Baden Announces 2006 Financial Results

CALGARY, ALBERTA--(CCNMatthews - April 27, 2007) - 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, 2006.

Record growth in both Baden's domestic operations and export sales were evidenced by a 541% increase in revenue over fiscal 2005. Total revenue for the year was $8.72 million, resulting in net earnings of approximately $605,000 (3.59 cents per share). As reported on November 8, 2006, Baden, and its subsidiary FSI International Services Ltd, continued to experience robust sales growth in all product groups, including ultra-filtration service contracts, a blending plant project in the Fort McMurray area, and oilfield filtration equipment manufacturing.

During the year, Baden designed, fabricated, and completed the installation of two FSI Brine Plants, and signed contracts for another (see News Release dated December 21, 2006).

Financial Highlights Year ended Year ended
December 31, 2006 December 31, 2005
Revenue $8,724,917 $320,715
Earnings (loss) before
interest, taxes, depreciation
and amortization (EBITDA) 767,968 (527,069)
Profit (Loss) for the period 604,609 (625,822)
- per share (weight average, basic) $ 0.036 ($0.048)


Demand for FSI International Brine Plants has increased since the end of fiscal 2006. The company has signed Brine Plant contracts on hand totaling approximately CAD$9.3million, all of which will be fabricated and shipped in the first three quarters of 2007. Additionally, demand for the Company's filtration and filtration-related products remains strong compared to historical levels. 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 or on our website:

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)