Aquagenix Inc. First Quarter Results Reflect Operating Income and Increased Revenues.FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 25, 1999-- Aquagenix Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AQUX) announced Friday results for the first quarter ended March 31, 1999. Revenues for the quarter rose 8% to $3,253,000 from $3,015,000 for the same period last year. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the quarter totaled $52,000 compared to an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $4,776,000 for the comparable quarter of 1998. After interest expense of $223,000, first quarter net loss totaled $171,000, or ($.03) per share, compared to a net loss of $4,997,000, or ($.98) per share, for the first quarter of 1998. The company posted an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $294,000 for the quarter. Russell M. Thompson, president of Aquagenix said, "We have refocused our sales and marketing efforts on our core aquatic business and are dedicated on maintaining an ambitious pace of both top and bottom line growth." Aquagenix Inc. is a leading aquatic vegetation management company providing services to government, commercial, industrial, golf courses and private customers. You can reach Aquagenix on their Web site at http://www.aquagenix.com. This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which represents the company's expectations or beliefs concerning future events and the company's financial performance. Any forward-looking statements contained herein are made pursuant to the "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. " provisions of 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. These forward-looking statements are qualified by important factors that could cause actual results to differ materially from those contained in such forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, those detailed in the company's filings with the Securities and Exchange Commission. |
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