Seprotech Systems Incorporated V.SET

news today

[frenchfry1]

Seprotech 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:

<<
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)
>>

"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.

[frenchfry1]

this has to be a joke,since last year they have acquired pj hannah,envirosearch,some patentsand these big dnd contracts and the revenue has gone from $2.9 million last year to $1.7 million this year for the second quarter.what are they doing here,this makes no sense,what would the revenue of the company be without these acquisitions a negative number,maybe they should acquire some more companies

[Xoph]

Frenchfry,Totally agree.  And $5k of profit.  That's just creative book-keeping to get a positive #.   Did they think that would hide the fact that sales are drastically down and that nothing is happening with these so called wonderful patents?  As I said, they line all the ducks up and then do nothing.  Pattern I've seen for years and years with this company.

[frenchfry1]

xoph,you are reading my mind,yes they are hiding the fact that sales went way done,i can only hope that many of the sales that happened in the second quarter will be put in the books as third quarter sales,if this happens maybe the third quarter will have sales over $3 million,still can't understand why so many countries don't have clean drinking water with seprotechs technology out there

[Xoph]

Frenchfry,Seprotech is not the only company with membrane technology but the patents / rotodisk technology is something else.   These should help the company grow but as I've said how many times, ducks all lined up and nothing to show.   Maybe they will report a better 3rd quarter; there always is hope.  You'd think that if they spent all that time and associated

[frenchfry1]

so what happened at the meeting

[Xoph]

Sorry Frenchfry,Got stuck in Winnipeg.  Thought the deal was done but a few last minute changes meant a weekend in the hot spot of Canada.  Hopefully it will all be signed by Tuesday. Disappointed I did not get to go.  Hopefully someone else can summarize what was discussed or said.

[frenchfry1]

judging by the share price looks like nothing exciting happened,anybody go,anybody care

[Xoph]

Obviously nothing happend that was good to move the price at all up.  That's the time when the company can really demonstrate the positive's and give hope to shareholders while limiting negative discussions.    There are followers on this board that work for Seprotech so my assumption given no feedback from your request that even they have nothing positive to add.  That