April 30, 2009 16:01 ET

Baden Announces 2008 Financial Results

CALGARY, ALBERTA--(Marketwire - April 30, 2009) - 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, 2008.

Fiscal 2008 saw a general weakening in growth during the last quarter. During the year, Baden designed and fabricated one FSI Brine Plant, as well as maintaining its relative sales strength in the domestic oil and gas market. Despite reduced year-over-year revenue, controls on input costs and increased margins resulted in a positive EBITDA of $202,288.

Financial Highlights Year ended Year ended
December 31, December 31,
2008 2007
Revenue $ 10,021,455 $ 13,876,971
Earnings (loss) before interest, taxes,
depreciation and amortization (EBITDA) 202,288 (309,799)
Profit (Loss) for the period (60,751) (554,265)
- per share (weight average, basic) ($0.000) ($0.030)


Despite the downturn in the global oil and gas industries, demand for both domestic filtration services and FSI International Brine Plants in Russia continue during the first half of 2009. The company is currently involved in an ongoing service project in Fort McMurray, Alberta, as well as in final contract negotiations for three Brine Plants to be fabricated and shipped in 2009. Baden continues to be the leading supplier of both the turnkey Brine Plant and domestic ultra-filtration services. 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) 571-4230
    (403) 230-3106 (FAX)