BADEN TECHNOLOGIES INC.
TSX VENTURE : BDZ

BADEN TECHNOLOGIES INC.

May 24, 2006 16:13 ET

Baden Announces Record First Quarter

CALGARY, ALBERTA--(CCNMatthews - May 24, 2006) - Richard Ball, Chairman of the Board of Directors of Baden Technologies Inc. (TSX VENTURE:BDZ), is pleased to announce financial results for the first three months of 2006.

Successful marketing efforts for Baden's domestic filtration, manufacturing and ultra-filtration services were evidenced by the quarter's 308% increase in associated revenue. Baden generated overall revenues of $1.37 million for the quarter, resulting in net earnings of approximately $200,000 ($0.012 per share). Robust activity in the Alberta oil sands region contributed to the increase in revenues through the Company's previously-announced blending plant project in the Fort McMurray area.

Baden expects to ship the first of two contracted FSI Brine Plants during the second quarter of 2006 (see News Release dated March 7, 2006). Revenue for this contract will total approximately $3.9 million.



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Q1 ended Q1 ended
March 31, 2006 March 31, 2005
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Revenue $ 1,367,886 $ 334,703
Gross profit 449,528 105,852
Earnings (loss) before interest,
taxes, depreciation and
amortization (EBITDA) 216,882 (79,341)
Profit (Loss) for the period 198,470 (99,256)
- per share (basic) $ 0.012 $ 0.001
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The Company's cost-reduction initiatives and focused marketing efforts will continue for the balance of 2006 and forward.

Complete financial statements are available on www.sedar.com or on our website: www.baden.ca.

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.

Certain statements in this document may be "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by Baden at the time of preparation, may prove to be incorrect. There is no representation by Baden that actual results achieved during the forecast period will be the same in whole or in part as those forecast. Baden disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.


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 & CEO
    (403) 571-4230
    (403) 230-3106 (FAX)
    Email: richard.ball@baden.ca
    or
    Baden Technologies Inc.
    Ian Ball
    Chief Financial Officer
    (403) 571-4230
    (403) 230-3106 (FAX)
    Email: ian.ball@baden.ca