Today after the bell, General Environmental Management, Inc. announced that it will conduct its first ever earnings conference call on Monday, November 16, 2009 at 1:30 PST. The call will be hosted by GEM’s management team including CEO Tim Koziol, CFO Brett Clark and President Bill Mitzel. Following prepared remarks and presentation of the operating results, the call will be open to questions and answers.
“We are excited to be conducting our first earnings call and to have the opportunity to talk directly with shareholders about the exciting changes that are taking place at GEM,” commented Koziol. “Over the past few months we have been working hard to re-engineer our business model by shifting our focus away from the lower margin field services business to the faster growing and much higher margin wastewater treatment and waste-to-energy industries.”
“During the earnings call we will be able to provide a detailed update on our progress of acquiring Santa Clara Waste Water (SCWW), which we believe can set our company on course for future growth, and most importantly, future profitability and cash generation from operations.” Koziol added. “We will also be able to provide guidance on the company’s plan to sell our field services business. While we believe that we have one of the best managed and operated hazardous waste field services companies in the country, getting maximum value in the sale of this business unit at this time will eliminate debt and provide access to capital to accelerate our move into the wastewater treatment and waste-to-energy markets.”
“We will also be able to share important details about the company’s efforts to acquire, license or partner with waste-to-energy technologies and companies. Several such relationships are already in development.” Koziol continued, “Once the sale of our field services business and the acquisition of SCWW are complete, we anticipate that the operating company going forward could be profitable and cash flow positive.”
Koziol concluded, “With the addition of GEM’s sales, marketing, operational and regulatory expertise, we believe that we can grow SCWW significantly in the coming years. As we announced last week, we will continue to pursue organic growth while we look to acquire complimentary water treatment businesses that will give GEM even greater capacity to scale revenue.”
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