“Despite the very challenging economic environment Seprotech has delivered improved results for the First Quarter”, said Martin Hauschild, President & chief executive officer of Seprotech. “Revenues were up over 43 percent compared to the same period last year and our margins continue to improve as we begin to fully leverage the acquisition of P J Hannah Equipment Sales Corporation and monetize the benefits of the cost savings activities that we implemented.”
During the first quarter of fiscal 2009, management continued to work towards building a water utility. Seprotech today announced the acquisition of an experienced water and wastewater treatment plant operations company, with historical annual revenues of approximately CAD2 million. Management believes that it can achieve growing consistent revenues through the utility business and increased growth through the water technology systems business.
“The company remains committed to technology investments. We continue to invest in R&D activities that include patent filings for wastewater treatment and water-recycling through California ‘Title 22’ Certification for CrystalBlue,” continued Hauschild, “When the global economy and particularly US economy turns, Seprotech will be well positioned with its strong IP base to address the growing demand for water. We see CrystalBlue™ water recycling technology as the Company’s primary growth driver in the future.”
