SOURCE: E-Waste Systems, Inc.
LONDON, UNITED KINGDOM--(Marketwired - Dec 2, 2013) - E-Waste Systems, Inc. (OTCQB: EWSI) ("EWSI" or the "Company"), an electronic waste management, reverse logistics, environmentally focused services and technology company and the first pure public eWaste operator, announced today financial results for the quarter ended September 30, 2013 highlighted by a revenue growth to $5.3 million in the quarter, almost doubling the second quarter results.
EWSI reported third quarter 2013 revenues of $5.3 million representing a 95% increase from the previous quarter. "These results include significant increases in the USA market together with continued strong results from the Company's China operations. Total assets increased to $5,831,314. The results reflect an annualized running rate in excess of $21 Million. The revenue increase and the asset growth provide a basis for continued expansion for the balance of 2013 and into 2014," according to Martin Neilson, CEO of EWSI.
"EWSI plans to publish an updated Q&A providing more details on developments to respond to shareholder requests. We achieved some breakthrough milestones this year and these quarterly results provide support for our confidence in the future of the growth of the Company and we can complete the second half of the year on a significant up-tick. Once again the hard work and commitment of our entire team has proven to be the key to the execution of our business plan," said Martin Nielson.
The comprehensive results have been filed on SEC Form 10Q, and readers are referred to those filings which are also available on the Company's website.
Mr. Nielson added, "EWSI has expanded our global brand and now has a presence on all continents as we continue to add teaming relationships with strategic partners to improve our global reach. We are focused on improving the existing technologies and on the development of new proprietary technologies. And, of course, we are realizing accelerated revenue growth through our new operating divisions, acquisitions and management services initiatives."
"Right now we are looking forward a time of outstanding growth in our industry. Our positioning in the market as a public global platform with proprietary technology, brands and assets makes us well equipped to take advantage of this great opportunity," added Mr. Nielson.
Today, EWSI is able to arrange collections in the USA from every zip code; has entered the UK market, opened a strategic office in China, launched a partnership in Australia and recently announced deals in Africa, Argentina and India. EWSI brings technology, including its recently announced proprietary ePlant1000™, eWasteCC™ (carbon credit) and eWasteTRACK™ technology solutions, regulatory knowledge, industry experience and management services to its subsidiaries and affiliates, brand licensees, and teaming partners around the world as part of its strategy to extend the presence and global influence of the Company's branded services and technologies.
2013 Business Plan and all SEC filings are available on the Company's website (www.ewastesystems.com).
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The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Advisory Group, Inc.), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.
About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, and providing a truly global e-waste solution. Additional information, including the business plan summary, is available on the Company's website: www.ewastesystems.com
Safe Harbor Statement: Certain statements and information in this release constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.