DeMarco Filed First Quarter Financials.Energy Editors/Business EditorsAUSTIN, Texas--(BUSINESS WIRE)--Dec. 18, 2003 DeMarco Energy Systems of America Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DMESE) announces the release of its first (1st) quarter financial statements. DeMarco, a geothermal heating Geothermal heating has been used since Roman times as a way of heating buildings and spas by utilizing sources of hot water and hot steam that exist near the earth's surface. & cooling company as well as a filter service company, recorded total revenues of $110,221 for the quarter ended Sept. 30, 2003, compared to $52,433 in revenues for the prior year quarter ended Sept. 30, 2002. The revenues included filter service sales, geo-thermal heat pump heat pump: see air conditioning. heat pump Device for transferring heat from a substance or space at one temperature to another at a higher temperature. sales and distributorship fees. The company recorded a gross margin of $36,775 for the quarter ended Sept. 30, 2003, as compared to a $29,586 gross margin for the prior quarter ended Sept. 30, 2002. DeMarco reports a net loss for the quarter of $365,948, while the prior year quarter reported a net loss of $448,450. The symbol for DeMarco Energy Systems of America Inc. should change back from DMESE to its normal symbol of DMES DMES Deployable Mobility Execution System within the next couple of days. Sales continue to increase each quarter and interest in the air filter service distributorships continues to be strong. Long-term and recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenues are increasing each quarter. The management of the Company continues to evaluate, reduce and adjust its overhead as well as the expenses of its operations. It is expected that the third and fourth quarters of this fiscal year will operate with a break even or positive cash flow. Management is looking forward to the final filling of the registration for its equity line of credit that was obtained this past summer. It is anticipated that this registration will be effective sometime in the spring of 2004. This News Release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results, performance, plans, events or other matters. Words such as "potentially," "will," "anticipates," "believes," "plans," "expects," "future," "intends" and similar expressions are used to identify these forward-looking statements. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to development of the company's products and services and markets for such products and services, the timing and level of customer orders, competitive products and services and pricing, changes in economic conditions and the markets for the Company's products and services and other risks and uncertainties. Actual results, performance and events may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this News Release. DeMarco financials can be found in its filings with the Securities and Exchange Commission, which can be accessed at www.sec.gov. |
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