10:46 AM EDT, 05/28/2025 (MT Newswires) -- Biorem ( BIRMF ) , down 6% on last look, on Wednesday said first-quarter net earnings plunged as revenue fell.

The company, which manufactures air emissions control systems, said net earnings fell to $37,000, or $0.002 per share, from $344,000, or $0.02 per share, in the prior-year period.

Revenue contracted by a fifth to $4.7 million. The lower revenue reflected expected seasonal differences in construction schedules and logistical issues experienced by the owner of a large project, which pushed expected revenues into the second, third and fourth quarters, the company said.

"Sales initiatives executed in 2024 are now converting into orders in our growing backlog. Bidding activity remains robust and expected to continue throughout the year", said Chief Executive Derek Webb. "Management remains focused on a number of organic growth initiatives and delivering the historical backlog that has been built up over the last several quarters."

The company's shares were last seen down $0.12, to $1.88, on the TSX Venture Exchange.

Price: 1.85, Change: -0.15, Percent Change: -7.50