Organic Resource Management Inc. provides vacuum truck services for the collection, processing, and recycling of food-related organic residuals in Canada. The company offers grease trap services, such as grease trap cleaning, clean-flo preventive maintenance, grease trap repairs, and grease trap installation. It collects the liquefied solid food residuals from approximately 10,000 regularly scheduled grease traps at restaurants, grocery stores, and other food processing facilities. The company also offers drain services, including flushing and snaking, clean-flo preventive maintenance, camera inspection, and sump cleaning; and food processor services comprising handling, transportation, and ...
3700 Steeles Avenue West
Woodbridge, ON L4L 8K8
Founded in 1990
Organic Resource Management Inc. Announces Earnings Results for the First Quarter Ended September 30, 2012
Nov 22 12
Organic Resource Management Inc. announced earnings results for the first quarter ended September 30, 2012. Total revenues were $3,628,000, an increase of $55,000 or 2% over first quarter 2012 revenues, mainly due to a 2% volume increase in residuals collected from customers. Net income was $45,000, an increase of $88,000 from a net loss of $43,000 last year. Income per share was $0.01 compared to a loss per share of $0.01 last year. EBITDA was $462,000, an increase of $105,000 or 29% from $357,000 last year.
Organic Resource Management Inc., Special/Extraordinary Shareholders Meeting, Dec 07, 2012
Oct 18 12
Organic Resource Management Inc., Special/Extraordinary Shareholders Meeting, Dec 07, 2012. Location: offices of McMillan LLP, Brookfield Place, Suite 4400. Agenda: To consider, pursuant to an interim order of the Ontario Superior Court of Justice dated November 7, 2012 and, if deemed advisable, to pass, with or without variation, a special resolution of Shareholders to approve an arrangement pursuant to section 192 of the Canada Business Corporations Act, whereby, among other things, Walker Industries Holdings Limited will acquire all of the issued and outstanding Common Shares of the Corporation for $3.25 per Common Share in cash, all as more particularly described in the accompanying management information circular; and To transact such other business as may properly come before the Meeting or any adjournments or postponements thereof.
Organic Resource Management Inc. Announces Financial Results for the Fourth Quarter and Full Year Ended June 30, 2012
Sep 18 12
Organic Resource Management Inc. announced financial results for the fourth quarter and full year ended June 30, 2012. For the quarter, the company reported total revenues of $3,580,000, an increase of $42,000 or 1% from $3,538,000 last year. Net income of $38,000, an increase of $2,686,000 from a net loss of $2,648,000 last year. Excluding the write-down of goodwill in 2011, net income for fourth quarter of 2012 increased by $251,000 from last year. Income per share of $0.01 compared to loss per share of $0.60 last year. Excluding the write-down of goodwill in 2011, the loss per share for fourth quarter of 2011 was $0.05. EBITDA of $404,000, an increase of $217,000 or 116% from $187,000 last year. Cash flows from operating activities were $670,000, an increase of $579,000 from $91,000 for the same period last year. This increase was due to an increase in EBITDA, supplemented by a decrease in accounts receivable and increase in accounts payable and accrued liabilities.
For the year, the company reported total revenues of $14,119,000, an increase of $134,000 or 1% from $13,985,000 last year. Revenues, which were 1% higher than last year, were negatively impacted by the company's decision to discontinue servicing several low-margin industrial accounts that have low energy-potential in their residuals and that require higher processing costs due to the poor quality of the decanted wastewater. Net loss of $53,000, a decrease of $2,805,000 from a net loss of $2,858,000 last year. Excluding the write-down of goodwill in 2011, the net loss for 2012 decreased by $370,000 or 87% from last year. Loss per share of $0.01 compared to a loss per share of $0.65 last year. Excluding the write-down of goodwill in 2011, the loss per share last year was $0.10. EBITDA of $1,512,000, an increase of $351,000 or 30% from $1,161,000 last year. Cash flows from operating activities were $2,163,000, an increase of $1,196,000 or 124% from $967,000 for the year ended June 30, 2011. The improvement was mainly due to the increase in EBITDA in conjunction with a significant reduction in accounts receivable, compared to last year where a significant increase in accounts receivable had the opposite effect of negatively impacting cash flows from operating activities.