news todaySeprotech announces second quarter results: Profitable through first half of fiscal 2010
4/29/2010 4:01 PM - Canada NewsWire
OTTAWA, Apr 29, 2010 (Canada NewsWire via COMTEX News Network) --
Seprotech Systems Incorporated (SET-X; "Seprotech") announces the following unaudited results for the second quarter of fiscal year 2010:
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Three Months Ended Six Months Ended
28th of February 28th of February
2010 2009 2010 2009
(unaudited) (unaudited) (unaudited) (unaudited)
$ 000 $ 000 $ 000 $ 000
----- ----- ----- -----
Revenue 1,754 2,925 3,464 5,295
Net Income (Loss) 6 (92) 63 (82)
Earnings (Loss) per share 0.00 (0.00) 0.00 (0.00)
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"We are pleased to announce that Seprotech has maintained profitability through the first half of the 2010 fiscal year, which reflects the full impact of Management's cost reduction efforts", said Martin J. Hauschild, President & CEO. "The water infrastructure sector remained challenging through the end of the 2009 calendar year. However, orders from the multi-year contract with the Department of National Defense have picked up and spare parts and technical support sales have improved substantially."
"Despite the poor economic environment through the 2009 calendar year, we are beginning to see an improvement in our sales inquiries which is the key first step in sales growth," continued Hauschild. "The economic benefits of our water treatment technology are well established and the Company is well positioned to take advantage of an increase in water infrastructure spending in 2010," concluded 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(R) wastewater treatment systems.