PyroGenesis Provides Guidance for Q3 2021
03 November 2021 - 12:00PM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred
to as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions to reduce greenhouse gases (GHG), is pleased
to provide guidance for the third quarter ended September 30, 2021.
Based on financial information to date, and
subject to any closing adjustments, PyroGenesis expects revenue for
the third quarter 2021 to be at least $8 million, resulting in
total revenue for the nine months ended September 30, 2021 of at
least $22 million, compared to $8.1 million (Q3 2020) and $11
million (nine months ended September 30, 2020).
The Company also expects to report a positive
net income for the third quarter of 2021 as well as positive
earnings per share for the same period.
Q3 2021 revenue guidance and actual results
(2020 & 2021) are summarized in the following table:
|
Actual 2020 |
Actual 2021 |
Guidance 2021 |
Revenue |
|
Q1 |
$736,000 |
$6.3MM |
- |
Q2 |
$2.1MM |
$8.3MM |
- |
Q3 |
$8.1MM |
TBD |
> $8MM |
Nine months ended September 30 |
$11MM |
TBD |
> $22MM |
YE |
$17.78MM |
TBD |
- |
“It is difficult for a company like ours to
provide an early indication/guidance given the methodology relating
to the accounting for our revenue; namely percentage of completion
accounting. As one might expect, delays associated with supply
chain issues complicates further this process. Nevertheless, we are
happy to be providing today, a first glimpse of our third quarter
financial results,” said Mr. P. Peter Pascali, CEO and Chair of
PyroGenesis. “We are proud to give guidance that essentially
reflects record nine-month revenue and positive net income for the
quarter. We also expect to post a backlog of signed contracts that
will be very close to, if not at, a historical high level. Hope
this helps.”
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a leader in the design, development, manufacture and
commercialization of advanced plasma processes and sustainable
solutions which reduce GHG, and are economically attractive
alternatives to conventional “dirty” processes. PyroGenesis has
created proprietary, patented and advanced plasma technologies that
are being vetted and adopted by multiple multibillion dollar
industry leaders in four massive markets: iron ore pelletization,
aluminum, waste management, and additive manufacturing. With a team
of experienced engineers, scientists and technicians working out of
its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing
facilities, PyroGenesis maintains its competitive advantage by
remaining at the forefront of technology development and
commercialization. The operations are ISO 9001:2015 and
AS9100D certified, having been ISO certified since 1997. For more
information, please visit: www.pyrogenesis.com.
This press release contains certain
forward-looking statements, including, without limitation,
statements containing the words "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect", "in the process" and
other similar expressions which constitute "forward- looking
information" within the meaning of applicable securities laws.
Forward-looking statements reflect the Company's current
expectation and assumptions and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially from those anticipated. These forward-looking statements
involve risks and uncertainties including, but not limited to, our
expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to
research and development, the impact of competitive products and
pricing, new product development, and uncertainties related to the
regulatory approval process. Such statements reflect the current
views of the Company with respect to future events and are subject
to certain risks and uncertainties and other risks detailed from
time-to-time in the Company's ongoing filings with the securities
regulatory authorities, which filings can be found at
www.sedar.com, or at www.sec.gov. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Company undertakes no obligation to publicly update or revise any
forward- looking statements either as a result of new information,
future events or otherwise, except as required by applicable
securities laws. Neither the Toronto Stock Exchange, its Regulation
Services Provider (as that term is defined in the policies of the
Toronto Stock Exchange) nor the NASDAQ Stock Market, LLC accepts
responsibility for the adequacy or accuracy of this press
release.
SOURCE PyroGenesis Canada Inc. For further
information please contact: Rodayna Kafal, Vice President,
IR/Comms. and Strategic BDPhone: (514) 937-0002, E-mail:
ir@pyrogenesis.com RELATED LINK: http://www.pyrogenesis.com/
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