Seprotech Announces Third Quarter Results
July 24 2008 - 4:07PM
Marketwired
OTTAWA, ONTARIO ("Seprotech"), is announced the following
unaudited results for the third quarter 2008.
Three Months Ended Nine Months Ended
May 31 May 31
2008 2007 2008 2007
(unaudited) (unaudited) (unaudited) (unaudited)
$000 $000 $000 $000
-----------------------------------------------------------------------
Revenue 1,301 2,352 5,305 5,595
Net Income (Loss) (544) 133 (857) 98
Earnings (Loss) per share (0.01) 0.00 (0.02) 0.00
"Seprotech's third quarter fell short of Management's
expectations due to delays in a number of orders. Several of these
have now been booked and current order backlog has reached a record
$6.1M", said Martin Hauschild, President & CEO of Seprotech.
"In addition, margins were lower as we near completion of the
integration of the P.J. Hannah Equipment Corp acquisition."
"We continue to see a large volume of potential orders from the
emerging economies of Latin America and the mining sector remains a
growth driver for Seprotech," continued M. Hauschild. "Our product
and market diversification strategy has been compensating for
weakness in the US housing sector where we do not see a rebound
before the end of the year. We are anticipating that margins will
increase as the P.J. Hannah backlog is cleared in the fourth
quarter and cost efficiencies realized", added Mr. Hauschild.
"The Company remains well positioned moving into next fiscal
year as the benefits of the PJH Equipment Corp. acquisition and the
outsourcing of manufacturing to Mexico are fully realized.
Management continues to seek strategic alliances through
partnerships and licensing in markets where concerns are growing
over the protection of water resources both in terms of sustainable
development and its health related implications," concluded Mr.
Hauschild.
Seprotech is a provider 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: Mr. Robert J. Searle, CFO Investor Relations
613-523-1641 613-731-0851 (FAX)
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