new news: first quarter numbersSeprotech Systems Inc (C-SET) - News Release
Seprotech Systems earns $57,000 in Q1
2010-02-26 18:08 ET - News Release
Shares issued 49,767,643
SET Close 2010-02-25 C$ 0.08
Mr. Martin Hauschild reports
SEPROTECH ANNOUNCES FIRST QUARTER RESULTS: PROFITABLE FIRST QUARTER
Seprotech Systems Inc. has provided the following unaudited results for the first quarter of fiscal year 2010.
FINANCIAL HIGHLIGHTS (in thousands of dollars) Three months ended Nov. 30, 2009 2008Revenue $1,711 $2,369Net income (loss) 57 10Earnings (loss) per share 0.00 0.00
"We are pleased to announce that Seprotech has returned to profitability in the quarter," said Martin J. Hauschild, president and chief executive officer. "The first quarter of fiscal year 2010 reflects the full impact of management's cost reduction efforts and other financial measures undertaken in the prior fiscal year. In addition the results reflect revenue generated from a multiyear contract with the Department of National Defence that came into full production late in the summer of 2009 and strong spare parts and technical support sales.
"The overall economic environment was extremely challenging throughout 2008 and the first half of the 2009 calendar year for the entire infrastructure sector in North America," continued Mr. Hauschild. "However, we are beginning to see an improvement in our sales inquiries which is the key first step in sales growth.
"As the economic recovery takes hold and infrastructure spending resumes, the demand for water and waste water treatment equipment should also increase. The economic benefits of our treatment technology are well recognized by our clients and we remain well positioned to take advantage of an increase in infrastructure spending," concluded Mr. Hauschild.
We seek Safe Harbor.