N-Viro International Corp., which handles biodegradable materials and waste and converts it to biofuel, showed a financially stronger company overall in its third quarter report. Revenues and gross profits are up and operating expenses are down for the company that has facilities in 10 states east of the Mississippi and another in Louisiana.
Gross profits were up 27 percent from the 3Q in 2007, from $158,000 to $201,000. At the same time, operating expenses decreased 10 percent to $379,000 from $422,000. This, in turn, led to N-Viro’s reduction of operating loss to $178,000, compared to $264,000 at the same time last year. The company’s net loss decreased to $194,000 compared to $235,000 the previous September.
“Improvements in revenue this quarter were in large part the result of increased facility management revenue and improved facility management efficiency from both our Florida operation and our Toledo, Ohio facility,” N-Viro President and CEO Timothy R. Kasmuch wrote in a statement. “During the past 24 months we have successfully transformed our business model to that of an operating company, and we now have nearly 99% of our revenue emanating from operations, with the remainder from royalty fees.”
Revenues for the sale of the company’s N-Viro Fuel grew sharply to $1.456 million. That’s a 56 increase from $936,000, from year-to-year quarter, and the company’s best this year. In the first nine months of 2008, the company showed a 22-percent increase in revenues ($3,777,000 from $3,090,000).
The year’s trends are the same as those for the third quarter. N-Viro’s individual facilities also continue to grow. The company is working on the final details of a facility construction deal with Michigan State University. Its Daytona Beach location serves 12 municipalities, including the Tohopekaliga Water Authority, the latest addition to it.
“[It] serves as a model for our future expansion efforts,” said Kasmuch. “With current production at that facility at approximately 350 tons of biosolids a day, we are just about halfway to full capacity.”
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