Seprotech Systems Incorporated

Seprotech Systems Incorporated

November 08, 2005 09:46 ET

Seprotech Announces Fourth Quarter and Year End Results: 22% Revenue Growth Over Previous Year

OTTAWA, ONTARIO--(CCNMatthews - Nov. 8, 2005) - Seprotech Systems Incorporated (TSX VENTURE:SET) ("Seprotech") announces the following un-audited results for the fourth quarter 2005 and fiscal year end.

Three Months Ended Year To Date
31 August 2005
2005 2004 2005 2004
(unaudited) (unaudited) (unaudited) (unaudited)

$ 000 $ 000 $ 000 $ 000
----- ----- ----- ------

Revenue 1,430 397 5,448 4,465

Net Income (Loss) 96 (633) (137) (546)

Earnings (Loss)
per share (0.00) (0.02) 0.00 (0.02)

The financial results for the year ending 31 August 2005 reflect a revenue growth of 22% on an essentially break-even year. The Company generated positive cashflow of $38K from its operations during the year. "This is the third straight year of growth for the company", said Martin J. Hauschild, President and CEO, "the financial results reflect a respectable growth trend and we believe that the combination of continued tightening environmental legislation combined with a recognition of the strength of our products in the marketplace, will translate into strong future growth as we move forward."

The 2004/05 fiscal years saw several new firsts including the introduction of a new denitrification system as well as the introduction of the P-03™ advanced phosphorous treatment system which provides an affordable solution for many of the pollution problems in lakes and rivers. These technologies substantially reduce the nutrients flowing into lakes and rivers from outdated wastewater treatment plants and produce effluent that verges on drinking water quality. "Now that we have an installed base, a standardized product range and technical data supporting our new products, we are focusing on increasing sales," said Mr. Hauschild, "We are working to establish strong distribution of our technology through key strategic relationships. Seprotech has been essentially functioning as a self-funded development company and it is now time to grow this business by identifying the right partners and long-term customers."

"The company has gone through some recent restructuring at the management level," added Justin Connidis, Seprotech Chairman, "Seprotech has a very strong management team made up of executives who previously held senior positions in much larger companies. We expect that the combination of a strong management team and a strong environmental systems product line will produce solid long term results."

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) 523-1641
    (613) 731-0851 (FAX)