LONDON, ON, Dec. 12, 2002 -- Trojan Technologies Inc. was awarded contracts with a total value of $21.2 million for municipal wastewater and drinking water UV disinfection systems during the three-month period ended November 30, 2002.
Of the $21.2 million contracts awarded during the three month period, contracts totaling $9.1 million were previously announced and contracts totaling $12.1 million are being announced today. Municipal wastewater contracts totaled $13.5 million and municipal drinking water contracts totaled $7.7 million during the quarter.
Contracts for UV wastewater disinfection equipment were particularly strong in the U.S., amounting to $8.5 million during the quarter. The largest orders, representing $5 million of this total, were awarded by two repeat customers - the City of Daytona in Florida, and the Jefferson County Commission - Environmental Services Division in Alabama. Both of these facilities are replacing existing chemical disinfection with Trojan's ultraviolet technology.
The Daytona facilities are using UV equipment to treat wastewater for agricultural re-use. "We get 8 million visitors to Daytona every winter. Trojan's effective and cost-efficient technology has allowed us to not only meet our city's needs, but also to preserve our water resources. That's a huge environmental win," says Dennis Colby, Manager of Water and Wastewater Operations for the City of Daytona.
In the municipal drinking water disinfection market, North America continues to gain momentum with $2.1 million in contract awards. Trojan's newest product, the Trojan SwiftSC™, for smaller communities drinking water treatment, is achieving early success, particularly in Canada.
"With growth in North America in both municipal drinking water and wastewater treatment markets combined with our record backlog, we are off to a strong start," noted Trojan President and CEO Allan Bulckaert.
The company's order backlog at the end of the quarter stood at $62.4 million, up from $60.1 million at the end of fiscal 2002 - a record level.
Change in Year End
Trojan also announced today that it is changing its year-end from August 31 to December 31. "Most of the companies in our industry report on a calendar year basis. We have decided to align our financial reporting periods with our industry peers to better enable investors, the financial community and Trojan's management to make meaningful comparisons between our Company and its peers," Bulckaert explained. "In addition, with our acquisition program, we have encountered additional complexity and costs by requiring each of our acquired companies to change to an August year end."
Trojan will report its financial results for the four-month year ending December 31, 2002, which will be a transition year. Accordingly, the Company will not be reporting its November 30, 2002 results. Thereafter, the Company will report quarterly (for periods ending March 31, June 30, September 30, and December 31).
With approximately 3,000 municipal facilities in over 25 countries using its technology, Trojan has the largest installed base of UV systems in the world. Its equipment destroys water-borne pathogens such as E.coli, Giardia and Cryptosporidium in a highly effective, cost efficient, and environmentally safe manner.
The company designs, manufactures and sells UV systems for municipal wastewater and drinking water facilities, as well as for the industrial, commercial and residential markets. The company also provides UV treatment for the removal of toxic chemicals from water.
Trojan has over 350 employees around the world. Headquartered in London, Ontario, Trojan has offices in Germany, the U.K., Netherlands, Norway, Spain, and the U.S. Its shares are listed on The Toronto Stock Exchange under the trading symbol TUV.
SOURCE Trojan Technologies Inc.
