CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

November 14, 2008 17:02 ET

CCR Technologies Ltd. Reports Third Quarter 2008 Results

CALGARY, ALBERTA--(Marketwire - Nov. 14, 2008) - CCR Technologies Ltd. (TSX:CRL) (the "Corporation") (www.reclaim.com), a leading chemical purification technology solutions and service provider, today announced financial results for the period ended September 30, 2008.

For the three months ended June 30, 2008, the Corporation reported revenue of $1,786,000 resulting in a net loss of $1,450,000 as compared to revenue of $1,750,000 and a net loss of $2,090,000 for the second quarter of the year. Complete details of the Corporation's annual financial and related information are available on SEDAR at www.sedar.com.

CCR's CEO Marcel Kessler noted that "the financial results for third quarter were disappointing. Revenues fell short of expectations because of operating issues in Egypt and the impact of hurricane Ike in Texas. However, all of CCR's mobile reclaiming units operational again and generating revenue. Our margins are improving and we are working hard to further simplify our sales, operating and support processes while looking for profitable growth."

CCR Technologies purifies process chemicals and natural gas through the use of proprietary patented separation technologies. The Corporation provides environmental and economic benefits to the upstream and downstream oil and gas industries, and is also pursuing new environmental business opportunities in other industries and international markets.

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

The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond CCR's control, including: the impact of general economic conditions in Canada and in countries in which CCR and its subsidiaries currently do business, industry conditions, increased competition, the lack of available qualified personnel or management, equipment failures, fluctuations in product prices and in foreign exchange or interest rates and stock market volatility. CCR's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits CCR will derive there from. The Corporation assumes no obligation to update forward looking statements should circumstances change, except as otherwise required under applicable securities law.

Contact Information

  • CCR Technologies Ltd.
    Marcel Kessler
    President and CEO
    (403) 543-6699
    Website: www.reclaim.com