Latest news with #PhillipPrice
BBC News
19-05-2025
- Automotive
- BBC News
Herefordshire bus lanes considered in local transport plan
Plans to make travelling by bus more attractive in Herefordshire have been set out by the county draft local transport plan covers the next 16 years and reveals council bosses are considering bus priority or bus-only access on certain streets to make bus services faster and more also raised the possibility of tackling delays caused by on-street parking on some roads in Phillip Price, cabinet member for transport and infrastructure, said any moves to install bus lanes were several years away. Price said: "You're not going to get bus lanes out in the rural sticks. You will get them possibly in Hereford, and that will be down to whether or not the infrastructure of Hereford allows it to happen."He added there would need to be further investigations on the roads before it was decided whether it was possible to put in bus lanes or not."Bus lanes need space, and until you have that space, you can't have bus lanes," he said."The ambition might be to do that, but the reality is you are not likely to get another river crossing and a bypass for at least until 2032; therefore, we're not going to be doing any bus lanes until we have that space to do it." Parking 'critical' In Ross-on-Wye, concern had been raised over possible restrictions to on-street parking. Three roads mentioned in the plan were Cantilupe Road, Gloucester Road and the High Charles, who has a shop on Gloucester Road, said parking outside her shop was vital and people used it "all the time".She said: "It's quite critical, really, to the dynamic of the town centre. People have got half an hour to come in and perhaps browse in the shop or perhaps pick up something they need in the town."Consultation on the plan is ongoing, and people can give their views until 5 June. Follow BBC Hereford & Worcester on BBC Sounds, Facebook, X and Instagram.
Yahoo
29-03-2025
- Business
- Yahoo
LiqTech International Inc (LIQT) Q4 2024 Earnings Call Highlights: Strong Sequential Revenue ...
Revenue: $3.4 million for Q4 2024, a 37% sequential increase from Q3 2024. Water Treatment Systems Revenue: Increased by $750,000 or 108% sequentially. Projected Q1 2025 Revenue: Expected to be between $4.3 million and $4.7 million, representing a 26% to 38% sequential growth. Cash Balance: Over $10 million at the end of 2024. Net Loss: $3.0 million for Q4 2024, compared to $3.2 million in Q4 2023. Operating Expenses: $2.2 million for Q4 2024, down from $2.6 million in Q4 2023. Plastic Revenue: $0.9 million for Q4 2024, up 13% year-over-year and 34% sequentially. Gross Margin: Negative due to fixed production costs and inventory adjustments of $0.4 million. Cost Reduction Strategy: Aimed at lowering break-even target to a quarterly revenue run rate of $5.5 million to $6.0 million. Cash Flow: Underlying cash decreased by approximately $2.4 million compared to the end of Q3 2024. Warning! GuruFocus has detected 6 Warning Signs with LIQT. Release Date: March 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. LiqTech International Inc (NASDAQ:LIQT) reported a 37% sequential increase in revenues for the fourth quarter, reaching $3.4 million. The company received a record commercial order from Razorback Direct for its pure flow mobile units, indicating strong demand in the North American energy sector. LiqTech International Inc (NASDAQ:LIQT) implemented a cost reduction strategy, lowering its break-even target to a quarterly revenue run rate of approximately $5.5 million to $6.0 million. The company has a strong cash position with more than $10 million in cash at the end of the year, providing financial stability. LiqTech International Inc (NASDAQ:LIQT) has multiple pilot programs underway, which are expected to lead to larger commercial orders, particularly in the oil and gas industry. Revenue for the fourth quarter was down from $3.9 million in the same quarter last year, indicating a year-over-year decline. The company continues to experience negative gross margins due to fixed production costs not being fully absorbed. The marine scrubber market, which was strong in previous years, has slowed down, impacting potential revenue growth. The Middle East market has been slow in adoption, leading to a focus shift towards the US market. LiqTech International Inc (NASDAQ:LIQT) faced challenges in building a strong sales pipeline for its pool systems, resulting in disappointing sales in 2024. Q: My first question is on Q4 revenues. It looks like we were towards the lower end of expectations. Was there a deterioration that happened since the call in November? A: No, but it depended on timing differences on some key projects that went to the next quarter. So that's why we were in the lower end of the guidance or still within the guidance range. - Phillip Price, Interim Chief Financial Officer Q: With regards to guidance for Q1 revenues, it looks like we're booking the new oil and gas pure flow systems, and that is pretty lumpy. How would that affect subsequent quarters? A: We do get a very big order on pure flow system in quarter one. However, for quarter two, we are expecting contributions from other market segments. We are working on continued growth each quarter this year. - Fei Chen, President, Chief Executive Officer, Director Q: What do you think it's going to take at this point to see a real take-off in revenues for LiqTech? A: We have been building up quite a few distribution agreements and networks, which is the basis for a strong pipeline. We are improving our sales pipelines in swimming pool systems, oil and gas, and marine systems, which will give us the basis for a sales take-off. - Fei Chen, President, Chief Executive Officer, Director Q: Why would a customer choose your oil and gas treatment technology over the competition? A: Our technology provides stable treatment and high-quality water reinjection and reuse, unlike chemical treatments, which are expensive and unstable. We are currently the only provider offering this stable and high-quality solution. - Fei Chen, President, Chief Executive Officer, Director Q: Can you give us an idea of the new experimental technologies you're engaging in? A: We are using our silicon carbon ceramic membrane combined with our systems to enter new industry sectors like petrochemical for microplastic removal and lithium brine production pre-treatment. It's about applying our existing technology to new applications. - Fei Chen, President, Chief Executive Officer, Director Q: The pool sales seemed disappointing in 2024. Why did that happen? A: We were unable to build a strong sales pipeline in 2023, which takes about six to nine months to develop. However, in the past few months, our pipeline value has increased, and we expect pool sales to catch up in the next three quarters. - Fei Chen, President, Chief Executive Officer, Director Q: Regarding the supply approval from JiTRI, when do you expect to recognize revenue in that area? A: The engines are already being produced, and we are conducting pilot testing in China. We expect to have final results by the end of quarter two, which should lead to commercial sales. - Fei Chen, President, Chief Executive Officer, Director Q: Can you provide more visibility on the break-even gross profit dollar basis? A: The decline in gross margin is due to lower than expected revenue, resulting in fixed production costs not being spread over a smaller revenue base. We are operating at a contribution margin level of 40% to 45%, excluding fixed overhead. - Phillip Price, Interim Chief Financial Officer For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
