Seprotech Announces First Quarter Financial Results
29 January 2009 - 1:34AM
Marketwired
Seprotech Systems Incorporated (TSX VENTURE: SET)("Seprotech")
announces the following unaudited results for the first quarter FY
for the period 01 September to 30 November 2008.
Three Months Ended
November 30
2008 2007
(unaudited) (unaudited)
$ 000 $ 000
------------------------------------------------
Revenue 2,369 1,654
Net Income (Loss) 10 (154)
Earnings (Loss) per share 0.00 (0.00)
"Despite the very challenging economic environment Seprotech has
delivered improved results for the First Quarter", said Martin
Hauschild, President & CEO of Seprotech. "Revenues were up over
43 percent compared to the same period last year and our margins
continue to improve as we begin to fully leverage the acquisition
of P J Hannah Equipment Sales Corporation and monetize the benefits
of the cost savings activities that we implemented."
During the First Quarter, management continued to work towards
building a water utility. Seprotech today announced the acquisition
of an experienced water and wastewater treatment plant operations
company, with historical annual revenues of approximately $2M CAD.
Management believes that it can achieve growing consistent revenues
through the utility business and increased growth through the water
technology systems business.
"The company remains committed to technology investments. We
continue to invest in R&D activities that include patent
filings for wastewater treatment and water-recycling through
California 'Title 22' Certification for CrystalBlue," continued
Hauschild, "When the global economy and particularly US economy
turns, Seprotech will be well positioned with its strong IP base to
address the growing demand for water. We see CrystalBlue(TM) water
recycling technology as the Company's primary growth driver in the
future."
Seprotech is a provider and operator of pre-engineered water and
wastewater treatment plants to the land development, resource
sector and military market place, including CrystalBlue(TM)
membrane-based water recycling systems and the ROTORDISK�
wastewater treatment systems.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein. Some of the statements in this
press release, including those relating to the Company's strategies
and other statements that are predictive in nature, that depend
upon or refer to future events or conditions, or that include words
such as "expects", "anticipates", "intends", "plans", "believes",
"estimates" or similar expressions, are forward-looking statements
within the meaning of securities laws. Forward-looking statements
include, without limitation, the information concerning possible or
assumed future results of operations of the Company. These
statements are not historical facts but instead represent only the
Company's expectations, estimates and projections regarding future
events. The Company does not undertake any obligation to update or
release any revisions to these forward-looking statements to
reflect events or circumstances after the date of this presentation
or to reflect the occurrence of unanticipated events, except as
required by law.
Contacts: Seprotech Systems Incorporated Mr. Robert J. Searle,
CFO Investor Relations 613-523-1641 613-731-0851 (FAX)
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