EDMONTON, April 27 /CNW/ - Seair Inc. (TSXV: SDS) today released its unaudited financial statements for the quarter and six months ending February 28, 2011.


Revenue for the quarter ending February 28, 2011 was $1,133,308, or 82% higher than the second quarter of fiscal 2010. The increase was attributable to a rebound in Seair's portable wastewater treatment business, with sector revenue in the quarter of $941,424 compared to approximately $400,000 in the second quarter of fiscal 2010 (a 135% increase). The turnaround in the portable wastewater treatment business came as a result of overall oil and gas service sector improvement in conjunction with Seair establishing a full-time sales presence in Calgary in December 2010. The business turnaround was sudden and Seair's deployment rate was limited to about 50% as that was considered capacity for Seair's existing team of qualified service personnel. Since the sector improvement is expected to continue after spring break-up, Seair will be increasing its service personnel team to allow for greater fleet deployment next winter.

Fiscal 2011 second quarter revenue also includes approximately $65,000 of equipment rental and consulting fees in connection with the produced water recycling pilot plant tested during the quarter by R360 Environmental Solutions in New Mexico. Subsequent to quarter end R360 agreed to an exclusive licensing agreement, with one provision being R360 purchase the pilot plant used in New Mexico. Revenue from this pilot plant sale will be recorded in Seair's third quarter.

Seair sold one additional dewatering unit to Syncrude in the quarter, bringing the total sold to-date to 16.

Gross profit for the quarter ending February 28, 2011 was $787,063 (69% of revenue) compared to $489,446 (78% of revenue) in the quarter ending February 28, 2010. This $297,617 increase in gross profit is due to higher revenue, particularly from portable wastewater treatment plant rentals.

Total operating expenses increased by $81,929 to $1,091,880 (8% increase) from fiscal 2010 to fiscal 2011 compared to the 82% and 61% increases to revenue and gross margin, respectively. Portable wastewater fleet equipment expenses (amortization, repairs and maintenance) increased with fleet deployment, offset somewhat by reduced salaries and wages.

Net loss for the quarter ending February 28, 2011 of $300,866 was 44% smaller than the corresponding quarter in fiscal 2010.

The complete financial statements are available at


Seair's portable wastewater treatment rental business began recovering in December 2010. Fleet rental revenue in the second quarter was approximately 135% higher than the prior year. Improved results are expected to continue in fiscal 2011 and into next year.

The collaboration with R360 Environmental Solutions announced on April 20, 2011 will give Seair an immediate and growing presence in the United States oil field water treatment and recycling industry. Water use has increased dramatically in recent years on an equivalent barrel produced basis and there are increasing environmental concerns about oil field water potentially contaminating the environment. Full water recycling removes contaminants and allows for reuse of water, thereby reducing demand from groundwater sources. R360 will lead the US initiative with support and equipment provided by Seair. Seair will receive equipment sales and consulting service revenue as well as an ongoing throughput royalty for every barrel of water treated by the R360 plants.

Research and development work continues on a number of oil industry related water treatment solutions in Canada, including oil sands tailing pond treatment (accelerated settling using diffused CO2 and toxin removal using diffused ozone) and SAGD (steam-assisted gravity discharge) water treatment.

With snow melting and golf courses opening, particular emphasis will be placed on promoting Seair's permanent rural community wastewater treatment solutions through touring of the facility at the Village at Wolf Creek Golf Resort.

About Seair

Seair develops proprietary equipment that diffuses gases into liquids. The introduction of oxygen, ozone or carbon dioxide results in a supersaturated solution, that meets environmental standards and customer needs. Seair's patented technologies can produce extremely small bubbles which are more efficient than other diffusion technologies. Our technologies are used in a variety of applications in the oil and gas industry. We also service customers in such diverse fields as wastewater treatment, pulp and paper, food processing, aquaculture, agriculture/horticulture, sterilization, golf course irrigation and pond treatment and animal enhancement.

Seair is a leading developer of patent-protected diffusion and sterilization technologies, which allow for the efficient diffusion of gases into liquids, thereby facilitating numerous applications in a wide variety of industries, including wastewater treatment, pulp and paper production, food processing, aquaculture, agriculture/horticulture, sterilization, golf course irrigation and pond treatment, animal enhancement and oil and gas. Seair's primary focus is developing and selling equipment that diffuses gases, such as oxygen, ozone or carbon dioxide, into a liquid, resulting in a supersaturated solution. The major difference between Seair's and others' diffusion technologies is Seair's ability to achieve extremely small bubble size, which in turn allows for the mass transfer of gas to fluid. The result is a stable condition, where gases remain in solution for extended periods of time, leading to increased productivity and lower operating costs. Seair provides diffusion-enhanced portable wastewater treatment plants through its subsidiary, Seair Septic.

Parties interested in obtaining further information or receiving news releases and corporate documents from Seair may email such requests to or visit the Seair website at

This news release contains forward-looking statements relating to the future operations of the Seair Inc. and other statements that are not historical facts.  Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions.  Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements.  Such forward-looking statements are subject to important risks, uncertainties and assumptions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect.  Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Seair Inc.  As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information.  Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.  Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release are made as of the date of this news release, and Seair Inc. does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This press release is not for distribution to United States Newswire Services or for dissemination in the United States.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


For further information:

Harold Kinasewich
Seair Inc.
T: 780 477 7188
F: 780 477 6622

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