Seprotech announces first quarter fiscal 2011 results

    




 OTTAWA, Feb. 28, 2012 /CNW/ - Seprotech Systems Incorporated ; "Seprotech" or the "Company", announces the following unaudited  results for the first quarter of fiscal 2012 with comparative unaudited  results for the first quarter of fiscal 2011, and summary audited  results for the fiscal year ended August 31, 2011. 

  





                   Three MonthsEnded YearEnded
                   November 30       August 31  

                                                       

                     2011     2010      2011     2010  

                                                       

                     $000     $000      $000     $000  

                                                       

    Revenue           898    1,024     3,089    5,190  

                                                       

    Gross Margin      302      244     1,073    2,056  

                                                       

    Net Loss        (154)    (219)   (1,254)    (625)  

                                                       

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






  

 While first quarter 2012 revenues declined slightly, margins improved on  both a consolidated basis and on a product/service basis. The Company  has continued its efforts to improve sales across all of its business  groups, and is beginning to see progress reflected in its financial  performance. 

 In Q1 2012 revenues from sales of water and wastewater systems increased  to $462, which represents a significant improvement. Military contract  revenues at $324 were lower, reflecting the Company being at a  different phase under the new contract previously announced, as  compared to the same period the previous year. Parts and service  revenues were significantly lower than targeted, but margins remained  satisfactory. Activity in this area has increased subsequent to quarter  end. 

 Operating costs were lower than in each of the two prior quarters, but  remain high in relation to reported revenues. This reflects the need to  incur immediate additional compensation costs of new hires required to  process significant new bookings of water, wastewater treatment and  military business. 

 The net loss of $(154) is comparable with the prior quarter, and is a  significant improvement over the comparable quarter in FY 2011. 

 About Seprotech: 

 Seprotech is a provider of pre-engineered water and wastewater treatment  solutions to the municipal/land development, resource sector and  military market place, including Reverse Osmosis water purification  systems, ROTORDISK® biological sewage treatment package plants and  CrystalBlue™ membrane-based water recycling systems. 

 Neither 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.  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. 

Seprotech Systems Incorporated


CONTACT:  Mr. Ian W. Malone, CFOTel: [phone]Fax: [phone] 


    

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