LiqTech International (NYSE: LIQT) reported Q3 EPS of ($0.01), $0.01 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $3.35 million versus the consensus estimate of $3.3 million.

"We have made significant progress during the quarter ramping up our order backlog and signing framework agreements for our proprietary ceramic silicon carbide water filtration systems for the marine scrubber systems," commented Sune Mathiesen, CEO of LiqTech International. "We currently have a solid order backlog set for delivery in 2019, and in addition to this we expect to deliver a significant number of systems in 2019 and onwards off our newly signed framework agreement on October 1, 2018. We believe we are in an excellent position to continue building backlog as marine vessels make their way towards shipyards in the coming quarters to meet the IMO 2020 mandate."

Mr. Mathiesen continued, "It is our expectation that we will continue to see a positive development in our business, and in anticipation of this, we have already placed orders for new furnaces utilized in the manufacturing of our ceramic silicon carbide filters which are expected to be ready during the fourth quarter of 2019 to allow for an orderly delivery of systems into 2020. Additionally, as we look to leverage our position within the marine industry, we are developing complementary new products that will further establish our leadership position."

"LiqTech is ideally positioned to capitalize on IMO 2020 with a superior product offering, attractive return on investment proposition to marine vessels compared to lower sulphur fuel, and key partnership agreements with the industry's leading scrubber manufacturers. We look forward to the continued ramp in our business over the coming years," concluded Mr. Mathiesen.

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