LAS VEGAS, Jan. 29, 2008 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has realized a consolidated net income of $395,345 for the month of December, 2007. This represents a 29% increase in consolidated net income for the same period ending December 2006, when the Company's consolidated net income was $305,689. In addition, MetaPower International also booked $352,905 in accounts receivables for the month of December 2007.
MetaPower International generates revenues from monthly installments for its consulting services and UCoDA maintenance fees. The Company is currently on track to meet its goal of $3.5 million in revenue, including a net profit of over $400,000 for calendar year 2007. MetaPower licensed its UCoDA Business Process Management Tool for use on projects with clients such as Wolf Creek Nuclear Generating Station, Actuate Corporation and a major Canadian Oil Sands Energy Company.
"We are excited that 2007 ended on a high note. The Company's consulting services resulted in substantial revenue to close the year. We believe MetaPower International is currently positioned for tremendous growth in 2008, and expect to exceed 2007 sales numbers," stated Ken Allen, CEO of MetaPower International, Inc.
MetaPower International, Inc. previously announced a plan to buy back up to 28 million shares of the Company's common stock. MetaPower Directors intend to retire free trading shares purchased from the open market along with any shares turned into the company from its preferred stock exchange program. To participate, shareholders must have their shares into MetaPower International, Inc. by March 15, 2008 in order to qualify for the exchange of common shares to convertible preferred shares.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.