Seprotech Systems Incorporated

Seprotech Systems Incorporated

July 12, 2007 18:44 ET

Seprotech Announces Third Quarter Results

OTTAWA, ONTARIO--(Marketwire - July 12, 2007) - Seprotech Systems Incorporated (TSX VENTURE:SET) ("Seprotech") is pleased to announce the following unaudited results for the third quarter 2007.

Three Months Ended Nine Months Ended
May 31 May 31
2007 2006 2007 2006
(unaudited) (unaudited) (unaudited) (unaudited)

$000 $000 $000 $000
Revenue 2,352 953 5,595 2,714

Net Income (Loss) 133 (288) 98 (669)

Earnings (Loss) per share 0.00 (0.01) (0.00) (0.02)

"Seprotech has delivered its second straight profitable quarter and has more than doubled revenue over the same period last year" said Martin Hauschild, President and CEO of Seprotech. "We remain on track to deliver both record revenue and a profitable fiscal year for the company based on current sales backlog."

"The mining sector continues to be a revenue driver and we are seeing a significant increase in inquiries from the emerging economies of Latin America where economic growth is strong," continued Hauschild. "Concerns over the protection of water resources, both in terms of sustainable development and health related implications, have grown steadily throughout Latin America & the Caribbean. Our company is also active in on-site water and wastewater infrastructure for municipalities and developers and this part of the market remains weaker than usual due to the U.S housing slump. We anticipate a pickup sometime in the next 12-18 months as land developers begin to experience lower inventories.

"Our efforts to build strategic alliances have positioned the company for growth into the next fiscal year" added M. Hauschild. "Management's goal of positioning the company for expansion into key markets through strategic alliances is highlighted in the recent agreements with Raymac Environmental Services of Nanaimo, and Evans Power, a subsidiary of Valsi Corporation, a major Mexican company having over 400 offices and manufacturing sites throughout the country."

"Having completed a lengthy technology development cycle, we are now ready to fully commercialize our proprietary water treatment technologies. To this end, Management will continue to seek out strategic alliances through partnerships and licensing, and increase competitiveness through outsourcing of manufacturing to compensate for the rising Canadian dollar," said Hauschild.

"Operational improvements and product standardisation have increased Seprotech's growth potential." said Justin Connidis, Chairman of Seprotech "With an expanding proprietary technology base, Seprotech is well positioned to address growing global concerns on the sustainability of water resources."

Seprotech is a provider of pre-engineered water and wastewater treatment plants to the land development, resource sector 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 Inc.
    Mr. Robert J. Searle, CFO
    Investor Relations
    613-731-0851 (FAX)