CCR TECHNOLOGIES LTD.
TSX : CRL

CCR TECHNOLOGIES LTD.

April 04, 2006 21:42 ET

CCR Technologies Ltd. Reports Year-End 2005 Results

CALGARY, ALBERTA--(CCNMatthews - April 4, 2006) - CCR Technologies Ltd. (the "Corporation") (TSX:CRL) (www.reclaim.com), a leading chemical purification technology solutions and service provider, today announced financial results for the year ended December 31, 2005.

Revenues for 2005 were $6.9 million, resulting in a net loss of $3.9 million. This compares to 2004 revenues of $25.8 million and a net profit of $2.0 million. The Corporation's working capital position at year end 2005, excluding its debenture debt, was $4.0 million, consistent with that on the same date in 2004. Complete details of the Corporation's annual financial and related information are available on SEDAR at www.sedar.com.

On March 23, 2006, CCR Technologies provided an update commenting on the anticipated financial results reported today. The text of that release is available on the Corporation's website and on SEDAR. The Management's Discussion and Analysis filed today includes 2005 quarterly information for the three quarters ended September 30, 2005, restated from that previously issued as a result of the resolution of the accounting issues raised on March 23, 2006.

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 and 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".

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.

Contact Information

  • CCR Technologies Ltd.
    Oleh Hnatiuk
    President and Chief Executive Officer
    (403) 543-6699
    or
    CCR Technologies Ltd.
    Peter Kinash
    Vice President and Chief Financial Officer
    (403) 543-6699
    www.reclaim.com