CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

August 16, 2005 09:00 ET

CCR Technologies Ltd. Reports Second Quarter Results

CALGARY, ALBERTA--(CCNMatthews - Aug. 16, 2005) - CCR Technologies Ltd. (TSX:CRL) (www.reclaim.com), a leading chemical purification technology solutions and service provider today announced financial results for the quarter end June 30, 2005.

For the three months ended June 30, 2005, the Corporation reported revenue of $2.1 million for the quarter produced a net loss of $203,000 compared to revenue of $6.6 million which generated net income of $354,000 for the same period 2004.

President and CEO Bud Bell commented "The loss incurred during the quarter was disappointing and attributable to a combination of a current Technology Licensing and Solutions ("TLS") project drawing to a close along with lower than expected Mobile Reclaiming Services ("MRS") revenue. Operating expenses were adequately contained, while G&A costs were high due to a couple of one time events. Several initiatives are in progress to significantly improve the business. Among them are geographical expansion of MRS and prospective customer discussions regarding new TLS opportunities."

CCR Technologies is a technology solutions company focused on the purification of process chemicals and sweetening of sour gas through the use of proprietary patented technologies. The Company provides economic and environmental benefits to the upstream, downstream oil and gas industries, and is also pursuing new business opportunities in the petrochemical and international chemical purification markets.

Shares of CCR Technologies Ltd. trade on the Toronto Stock Exchange under the symbol "CRL".

Contact Information

  • CCR Technologies Ltd.
    C. Kent Jespersen
    Chairman of the Board
    (403) 262-4300
    or
    CCR Technologies Ltd.
    Bud Bell
    Chief Executive Officer
    (403) 262-4300
    or
    CCR Technologies Ltd.
    Chris Keen, CPA
    Chief Financial Officer
    (403) 262-4300
    Website: www.reclaim.com