Seprotech Systems Incorporated

Seprotech Systems Incorporated

January 26, 2007 17:03 ET

Seprotech Announces First Quarter Results

OTTAWA, ONTARIO--(CCNMatthews - Jan. 26, 2007) - Seprotech Systems Incorporated (TSX VENTURE:SET)("Seprotech") announces the following unaudited results for the first quarter 2007.

Three Months Ended
November 30
2006 2005
(unaudited) (unaudited)

$ 000 $ 000
Revenue 1,037 701
Net Income (Loss) (175) (314)
Earnings (Loss) per share (0.00) (0.01)

The performance in the first quarter represents accelerating revenues over the previous quarters and management expects this to continue through subsequent quarters as contracts are completed and revenues are realized. Current backlog is in excess of 5.0M and the company is well positioned for a strongern fiscal year ending 31 August 2007.

"We are satisfied with our financial progress in the current quarter and are planning to make continuing improvements to our financial results in the quarters ahead" says Martin Hauschild, President and CEO of Seprotech. "Operationally, a great deal of our focus in the second and third quarters will be on the full-scale integration of membranes into our wastewater treatment technology. This is in-line with our long term goal of being able to cost effectively recycle wastewater to potable water standards."

Although the Company's order book is currently strong, management is concerned about the United States development sector and is adjusting its focus towards exports to other countries. The United States housing sector has been weak and infrastructure investment has fallen off substantially. Sales and marketing staff are aggressively pursuing opportunities and markets where the demand for Seprotech products and services is stronger. Management recognized this trend and adjusted its focus accordingly.

Seprotech is a provider of pre-engineered water and wastewater treatment plants to the land development, industrial and military market place, including membrane-based water treatment systems and the ROTORDISK® biological 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.

Contact Information

  • Seprotech Systems Incorporated
    Mr. Robert J. Searle
    CFO, Investor Relations
    613-731-0851 (FAX)