BADEN TECHNOLOGIES INC.
TSX VENTURE : BDZ

BADEN TECHNOLOGIES INC.

May 29, 2009 14:27 ET

Baden Announces 2009 First Quarter Financial Results

CALGARY, ALBERTA--(Marketwire - May 29, 2009) - Richard Ball, Chief Executive Officer of Baden Technologies Inc. (TSX VENTURE:BDZ), is pleased to announce financial results for the three months ended March 31, 2009.

The first quarter of 2009 saw an increase in revenue over the same period in 2008, while also reflecting increased activity in the Fort McMurray region of Alberta. As a result of higher proportion of service-related work in the oil sands region, and continued cost reductions, the Company realized higher gross margin on slightly increased revenue.



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Financial Highlights Quarter ended Quarter ended
March 31, 2009 March 31, 2008
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Revenue $ 1,313,536 $ 1,281,765
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Earnings (loss) before interest, taxes,
depreciation and amortization (EBITDA) 315,881 222,235
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Profit (Loss) for the period 262,492 169,822
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Gross margin (% of sales revenue) 20.0% 13.2%
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- per share (weight average, basic) $ 0.01 $ 0.01
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Outlook

Despite the recent slowdown in the global oil and gas industries, demand for domestic filtration services and consumables is increasing 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 www.sedar.com

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)