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Bennett Provides an Update on Production for the 1st Quarter and Posts Audited Financial Statements.


OAKVILLE, Ontario Oakville (2006 population 165,613[2]) is a town on Lake Ontario in southern Ontario, Canada, midway between Toronto (about 31 km or 19 mi away) on its eastern border and Hamilton (about 20 km or 12 mi away) from its western border.  -- Bennett Environmental Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension
:BEV)(AMEX AMEX

See: American Stock Exchange
:BEL) today announced that it had finalized its audited financial statements for the year ended December 31, 2004 and reported on production for the first quarter of 2005.

Audited Financial Statements for December 31, 2004

The Company finalized its audited year end statements for the year ended December 31, 2004. A final copy of these statements can be found on www.sedar.com. While there were no changes to earnings from those announced previously on March 3, 2005, there were changes to the Company's working capital position. On the financial statements that accompanied the March 3, 2005 press release, the Company disclosed that working capital was approximately $28.6 million for the period ended December 31, 2004. The final audited financial statements for the same period disclose working capital of approximately $26.2 million. The primary driver of the change was a shift in tax recoveries from current to deferred taxes.

Quarterly Production

Recupere Sol Inc.

The Company processed approximately 3,700 tonnes at its facility in Saint Ambroise, Quebec in the quarter or approximately 1,800 tonnes less that it had reported in its press release of March 3, 2005. A later than anticipated start up of the facility along with material that needed to be processed at a lower rate were the primary drivers of the reduced volume.

Closing inventory of soil is approximately 7,000 tonnes at the end of the first quarter. There is also approximately 2,000 tonnes of soil in-transit.

Quebec Preliminary Notice

The Company and the Quebec Ministry of the Environment continues to work cooperatively to develop an action plan regarding the levels of dioxin dioxin

Aromatic compound, any of a group of contaminants produced in making herbicides (e.g., Agent Orange), disinfectants, and other agents. Their basic chemical structure consists of two benzene rings connected by a pair of oxygen atoms; when substituents on the rings are
 and furan furan: see furfural. . This is a long process and it is expected that the discussions will be completed during the next quarter.

About Bennett Environmental Inc.

Bennett Environmental Inc. is a North American North American

named after North America.


North American blastomycosis
see North American blastomycosis.

North American cattle tick
see boophilusannulatus.
 leader in high temperature treatment services for the remediation of contaminated contaminated,
v 1. made radioactive by the addition of small quantities of radioactive material.
2. made contaminated by adding infective or radiographic materials.
3. an infective surface or object.
 soil and has provided thermal solutions to contamination problems throughout Canada and the US. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America.

Bennett Environmental is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE)

Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options.
 (Trading Symbol Trading symbol

See: Ticker symbol
 "BEV") and the American Stock Exchange American Stock Exchange (AMEX)

Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921.
 (Trading Symbol "BEL").

FORWARD LOOKING STATEMENTS

Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Bennett Environmental Inc. (TSX:BEV) (AMEX:BEL)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Apr 1, 2005
Words:556
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