November 29, 2007 16:05 ET

Baden Announces Financial Results for Third Quarter 2007

CALGARY, ALBERTA--(Marketwire - Nov. 29, 2007) - Richard Ball, Chairman of the Board of Directors of Baden Technologies Inc. (TSX VENTURE:BDZ), is pleased to announce financial results for the third quarter of 2007.

The extended production cycle for several projects currently underway has resulted in overall revenue for the period having declined from the same period in 2006. Year-to-date revenue, however, has increased by 20% over 2006.

The Company's decline in profitability is due in large part to the strengthening value of the Canadian dollar during 2007, and escalating input costs in the Alberta oil and gas industries. Despite posting record revenues for the nine month period, net loss for the period was $56,892. Going forward, management has undertaken steps to mitigate the effects of the weak U.S. dollar on Baden's international business activities.

During the period, Baden continued fabrication of its twentieth Brine Plant which is expected to be shipped in the fourth quarter of 2007.

Financial Highlights Three months Three months Nine months Nine months
ended ended ended ended
September 30, September 30, September 30, September 30,
2007 2006 2007 2006
Revenue $1,199,475 $2,922,848 $8,483,726 $7,072,424
Earnings (loss)
before interest,
taxes, depreciation
and amortization
(EBITDA) ($214,303) 276,471 122,824 993,155
Profit (Loss) for
the period (279,201) 224,727 (56,892) 887,471
- per share
(weighted average,
basic) ($0.02) $ 0.01 $ 0.00 $ 0.05



FSI International (a division of Baden) has expanded its sales presence in the northern Alberta and northwestern British Columbia regions and continues to explore new opportunities for sales and services in the Oil Sands areas. This includes expanding on previous areas, such as blend plants for gypsum, into process waters as well as sales and rentals of traditional filtration equipment and consumables.


Demand for FSI International Brine Plants continues to increase since the end of fiscal 2006. The company is currently working to secure contracts for the upcoming budget year. Technical specifications and bid tenders have been received for the provision of a number of Brine Plants in 2008 and 2009. These plants will use more advanced technologies, resulting in a more efficient system for our clients.

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)