Ottawa cleantech firm BluMetric's revenues jump 30% in Q1

BluMetric pipe

Ottawa cleantech firm BluMetric’s revenues jumped nearly 30 per cent year-over-year in the first quarter of fiscal 2021, the company said this week.

BluMetric reported revenues of $8.2 million for the three-month period ending Dec. 31, the first quarter of its 2021 fiscal year, up from $6.3 million the year before. It posted net earnings of $700,000, down from $844,000 in the same period in 2020.

CEO Scott MacFabe said the firm continued to gain momentum after a strong finish to fiscal 2020 that saw its fourth-quarter revenues surge nearly $4 million year-over-year.

“We’re well positioned to capitalize on our strengths and we look forward with optimism to a re-opening of the economy and the increased opportunities this will bring,” MacFabe said in a statement.

BluMetric said projects in its traditionally strong government and military market helped boost business in the first quarter, along with an uptick in sales from the commercial and industrial sectors.

The firm said its expertise in industrial hygiene and occupational health and safety continued to pay dividends as BluMetric has become “an established provider” of services related to the COVID-19 pandemic.

“Other markets are beginning to see an increase in activity as previously stalled projects slowly begin to move forward again,” the company added.