SOURCE: Sagemark Companies

November 22, 2005 09:00 ET

The Sagemark Companies Ltd. Reports Results for Third Quarter 2005

Revenue Increases 27% for Third Quarter and 29% for the Nine-Month Period

NEW YORK, NY -- (MARKET WIRE) -- November 22, 2005 -- The Sagemark Companies Ltd. (OTC BB: SKCO), a national owner and operator of positron emission tomography (PET) medical diagnostic imaging centers, today reported financial results for its third quarter and nine-month period ended September 30, 2005.

Revenue for the third quarter of 2005 increased 27% to approximately $2.0 million, versus approximately $1.5 million for the comparable period in 2004.

Revenue for the nine-month period ended September 30, 2005, was approximately $6.1 million, an increase of 29%, when compared to revenue of approximately $4.7 million for the comparable period in 2004.

Although revenues increased in both the third quarter and nine-month period, the Company posted a net loss for the third quarter of $305,000, compared to a net loss of $83,000 in the comparable period in 2004. The net loss for the nine-month period was $904,000, compared to net income of $21,000 in the comparable period in 2004.

"Sagemark continues to focus its efforts on important initiatives to address the challenging market dynamics and position the Company for growth," said Ted Shapiro, Sagemark's President and Chief Executive Officer.

"Our 29% increase in revenue for the first three quarters of 2005 is representative of the progress being made to grow our Company and solidify our position within the medical imaging market."

"We remain in the initial phase of our long-term development plan," continued Shapiro. "We believe that our strategy of providing high-quality medical imaging solutions through our PET and PET/CT imaging centers and our aggressive efforts toward the development of additional imaging centers positions Sagemark for a rewarding and successful future."

Sagemark began construction of its sixth PET imaging facility in October 2005 and plans to have additional centers under construction in the very near future.

About The Sagemark Companies Ltd.

Sagemark owns, operates and administers out-patient medical diagnostic imaging centers that utilize positron emission tomography (PET), and PET and computed tomography (PET/CT) scanning equipment. PET is an advanced medical diagnostic imaging procedure used by physicians in the detection of certain cancers, coronary disease and neurological disorders including Alzheimer's disease.

Forward-Looking Statements

Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve known and unknown risks and uncertainties. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition to the factors set forth above, other important factors that could cause actual results in future periods to differ materially from those results projected in such forward-looking statements include, but are not limited to, risks associated with new technology development, government regulations, access to required financing and working capital to develop additional PET centers. Those and other risks that could cause actual results in future periods to differ materially from those results forecasted in the forward-looking statements are more fully described in the Company's SEC filings. Copies of these filings may be obtained by contacting the Company or the U.S. Securities & Exchange Commission via its web site at www.sec.gov. The Company undertakes no obligation to update any of the forward-looking statements contained in its press releases.

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