SOURCE: BWI Holdings, Inc.

BWI Holdings, Inc.

March 02, 2010 09:00 ET

BWI Holdings, Inc. on Track to Realize Approximately 10,000,000 Annual Revenue for the Year Ending March 31, 2010

CALGARY, AB--(Marketwire - March 2, 2010) -  BWI Holdings, Inc. (PINKSHEETS: BWIH) announced today that its wholly owned subsidiary, Budget Waste, Inc., located in Western Canada, announced today that the company is on track to realize approximately 10,000,000 revenues for the year ended March 31, 2010.

The Company projects revenues of $10,161,000 and a gross margin of $2,002,000 representing 19.7% of sales. Selling, general and administrative expenses for the year are expected to be $2,406,000 or 23% of sales. The Company anticipates net income to total $1,069,000 for the year ended March 31, 2010 due to gains from restructuring. A net income of $578,000 was realized in the third quarter and $705,000 for the nine months ended December 31, 2009. The figures indicated above are unaudited management estimates subject to changes.

About Budget Waste:

Budget Waste, Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients. With our broad range of innovative services we offer our customers more value for their dollar and reduce accounting costs by providing streamlined billing. BWI is currently following its growth through acquisition strategy with exceptional success. With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products, we see vast opportunities for expanding our distinctive services. We are confident that extraordinary growth and focus on customer needs will bring our stockholders outstanding value for the confidence they have placed in BWI.

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Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

Contact Information

  • Contact:

    BWI Holdings, Inc.
    Investor Relations
    3915 - 61st Ave. SE.
    Calgary, AB T2C 1V5
    Ph. 403-255-2900
    Toll Free 1-888-255-2990
    Fax: 403-255-3237