AquaCell Announces Results of Quarter Ended September 30, 2002.Business Editors RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k  'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif.--(BUSINESS WIRE)--Nov. 13, 2002AquaCell (AMEX AMEX See: American Stock Exchange :AQA AQA Assessment and Qualifications Alliance (UK) AQA Assessment and Qualifications Alliance AQA Any Question Answered AQA American Quality Assessors (India Pvt Ltd) ) announced today the results for the quarter ended September 30, 2002. During the three-months ended September 30, 2002 on a consolidated basis, we increased revenues by 1,231% to $932,000 as compared to $70,000 for the similar period of the preceding year, while reducing our losses by 70%. This increase in revenues is primarily attributable to the growing acceptance of our flagship Purific(R) Water Cooler in the marketplace. We believe that through our marketing efforts, sales of Purific coolers will continue to grow, as well as sales of our other products and emerging product lines. Our gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. on Purific water coolers, based on material and direct labor costs, was maintained at approximately 56% for the three months ended September 30, 2002. Net loss on a consolidated basis for the three months ended September 30, 2002 was decreased by 70% to $225,000 or $0.03 per share, as compared to $748,000 or $0.10 per share for the same period of the prior year.
Summary of Operating Results:
Three Months Ended
September 30,
2002 2001
Net revenues $ 932,000 $ 70,000
Loss from operations before net
interest income $ (239,000) $ (788,000)
Net interest income 14,000 40,000
Net loss $ (225,000) $ (748,000)
Net loss per common share $ (0.03) $ (0.10)
Weighted average
shares outstanding 8,601,000 7,734,000
Introducing AquaCell AquaCell, based in Rancho Cucamonga, CA, manufactures products for water filtration and purification through its two operating subsidiaries, Global Water-Aquacell, Inc. and Water Science Technologies, Inc. Its products address various water treatment applications for industrial, commercial, institutional and residential applications. These applications range from providing purified drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. -- through its point-of-use patented self-filling Purific(R) Water Cooler and production of water bottling plant Noun 1. bottling plant - a plant where beverages are put into bottles with caps industrial plant, plant, works - buildings for carrying on industrial labor; "they built a large plant to manufacture automobiles" equipment -- to processing water for ultra-pure purposes, such as micro-chip and pharmaceutical manufacturing. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; our ability to maintain our listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. ; and our ability to use the most current technology for our products. |
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