Seychelle Reports Loss for Q2 Ended 8-31-14 Vs Prior Year
October 10 2014 - 3:45PM
Business Wire
To-Date Seychelle has received over $650,000
in new orders for US purchases and Overseas Expansion for Shipment
during the anticipated Q3 Turnaround
Seychelle Water Filtration Products, a DBA of Seychelle
Environmental Technologies, Inc. (Seychelle) (OTCQB: SYEV), a
worldwide leader in the development, assembly and sale of
proprietary portable water filtration bottles, made several
announcements today relating to its most recent fiscal quarter’s
end. For the Second Quarter ended August 31, 2014, Revenue was
$767,216 compared to $1,096,947 in the prior year, a decrease of
$329,731 (-30%). In addition, Net Loss after taxes of $342,588 was
a decrease of $425,362 (-514%) compared to the prior year’s Net
Income after taxes of $82,774.
In addition, the Company reported that sales revenue for the
first six months of the fiscal year ended August 31, 2014 was
$1,874,514 compared to $2,663,004 in the prior year, down $788,490
(-30%). Net Loss after taxes was $405,316 for the same period and
was off $688,404 (-243%) versus prior year Net Income of
$283,088.
Dick Parsons, Chief Executive Officer, stated that “Our four
largest customers had lower sales compared to the prior year, which
accounted for the bulk of the shortfall. During the three months
ended August 31, 2014, we shifted our focus toward building a
broader customer base by hiring a national sales manager to develop
stronger sales relationships with both our current and potential
customers, which partially offset the decrease in sales from our
largest customers. Management believes this action will positively
impact our sales going forward.” Mr. Parsons noted that “To-Date we
have received over $650,000 in new orders for US purchases and
overseas expansion for shipment during Q3 and anticipate the trend
to continue in Q4 and going forward.”
With Seychelle portable water filtration, consumers can drink,
with complete confidence, perfectly filtered water that is
great-tasting from a variety of sources – the tap, rivers, streams,
ponds or creeks. The regular filter works for water from the tap
while the standard and advanced filters are needed for most outdoor
uses. The proprietary Seychelle Ionic Adsorption Micron Filtration
(IAMF) has been tested extensively by Independent Government
Laboratories in the US and throughout the world to strict EPA/ANSI
protocols and NSF Standards 42 and 53 by Broward Testing
Laboratories.
“Perfectly Filtered Water For a Great Taste
and a Healthier Life”
Note to Investors
This press release may contain certain forward-looking
information about the Seychelle’s business prospects/projections.
These are based upon good-faith current expectations of Seychelle’s
management. Seychelle makes no representation or warranty as to the
attainability of such assumptions/projections. Investors are
expected to conduct their own investigation with regard to
Seychelle. Seychelle assumes no obligation to update the
information in this press release. For more information, please
visit www.seychelle.com or call (949) 234-1999.
Seychelle Environmental Technologies, Inc.Dick Parsons, (949)
234-1999dickparsons@seychelle.com
Seychelle Environmental ... (CE) (USOTC:SYEV)
Historical Stock Chart
From Feb 2025 to Mar 2025
Seychelle Environmental ... (CE) (USOTC:SYEV)
Historical Stock Chart
From Mar 2024 to Mar 2025
