Seprotech Systems Incorporated

Seprotech Systems Incorporated

June 30, 2005 13:12 ET

Seprotech Reports Third Quarter Financial Results

OTTAWA, ONTARIO--(CCNMatthews - June 30, 2005) - Seprotech Systems Inc. (TSX VENTURE:SET) announced a profit of $118K for its third quarter ending May 31, 2005. The performance of the company in the third quarter reflects a 12% increase in revenues compared to the same quarter in 2004. During the nine-month period ending May 31, 2005, revenue decreased marginally over the previous year to $4,018K and at the end of the third quarter, the cumulative loss for the year is $234K


Period Ended May 31

Three Months Nine Months

2005 2004 2005 2004
$000 $000 $000 $000

Revenue 1,618 1,439 4,018 4,068

Net Income (Loss) 118 86 (234) 87

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

"The previous quarter is a clear demonstration of the benefits of our balanced approach to markets", said Dr. Gilles Turcotte, President & CEO. "We experienced a consistent performance from all of our market areas and we anticipate that the current strength of the mining industry combined with growth in the property development market, present excellent opportunities for us going forward. I am also pleased to report that our standardization investments are largely complete and that these investments in technical and operational efficiency will allow us to increase our revenue base without a corresponding increase in costs. Although it remains difficult to predict the exact timing of sales in a given quarter, we are well positioned for the coming year."

"Seprotech has been making great strides in technical innovation" added Justin Connidis, Chairman. "The company is seeing a growing rate of inquiries for our new line products such as the Clementine™, a mobile wastewater treatment plant which has achieved stellar results in the mining industry. In the previous quarter we entered the Oil and Gas market with an initial sale of two Clementine package wastewater treatment plants and we look forward to our systems becoming a standard as they are in the mining industry. We are also seeing increased interest in our advanced phosphorous treatment system ROTORDISK P-03™? as our technology achieves clear, predictable and stable results which are unmatched by any other technology available in the marketplace. It takes time to overcome the status quo in the environmental market but the shattering of technical barriers demonstrates Seprotech's status as a leading provider of water and wastewater treatment technologies in its market segments."

About Seprotech

Seprotech is an ISO 9001 company that is listed on the TSX Venture Exchange under the ticker symbol SET. The Company is a provider of environmental solutions in water and wastewater to the land development, industrial and military marketplace using its proprietary membrane and biological technologies. These include the ROTORDISK® and Clementine package wastewater treatment plants and advanced tertiary treatment processes for Phosphorous and Nitrate removal.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. Certain statements in this news release may contain forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual achievements to differ materially from those expressed in the forward-looking statements. Seprotech does not assume responsibility for the accuracy and completeness of the forward-looking statements and do not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Seprotech Systems Inc.
    Dr. Gilles R. Turcotte
    Investor Relations
    (613) 523-1641
    (613) 731-0851 (FAX)