OTTAWA, July 30 /CNW Telbec/ - Seprotech Systems Incorporated (SET-X; "Seprotech") announces the following unaudited results for the third quarter 2010.
Three Months Ended Nine Months Ended
31 May 31 May
2010 2009 2010 2009
(unaudited) (unaudited) (unaudited) (unaudited)
$ 000 $ 000 $ 000 $ 000
----- ----- ----- -----
Revenue 1,090,701 1,213,822 4,554,993 6,508,538
Net Income (Loss) 55,992 (553,205) 118,788 (637,252)
Earnings (Loss) per share 0.00 0.00 0.00 0.00
"This is our third consecutive profitable quarter for this fiscal year," said Martin J. Hauschild, President & CEO. "Our inquiry rate continues to increase and we have a good project pipeline that we are executing, which will be recognized in the coming two quarters. Our clients in the municipal sector and resource sectors are experiencing recovery and this is beginning to show in our results. The cost controls and restructurings that were initiated throughout this fiscal year have been a major factor in managing Seprotech's post recession recovery," continued Hauschild.
"The critical lack of water is going to be a major driver in the next economic cycle and Seprotech recognizes that The Company needs more critical mass in order to be positioned for success," added Hauschild. "Now that we have several months of pipeline visibility ahead of us, Management is shifting attention towards strengthening the balance sheet and growing the business. To this end, Seprotech has engaged the services of a company to assist us in securing growth capital and identifying strategic opportunities," said Hauschild. "There are few mid-sized companies in the water technology business in North America and water is a rapidly growing global priority. With our new patents and technologies largely in place, we are now executing a strategy squarely aimed at growth in the coming year," concluded Hauschild.
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.
SOURCE BluMetric Environmental Inc.
For further information: For further information: Mr. Matthew Anderson, Investor Relations, Tel: (613) 523-1641, Fax: (613) 731-0851