SSWM Revenues Highest in Company History; Fourth Quarter Revenues up 1,331%, with Total Annual Revenues up 333% from Prior Year.CARLSBAD, Calif. -- Sub-Surface Waste Management of Delaware, Inc. (OTCBB:SSWM) today announced preliminary revenue results for the fourth quarter of fiscal year 2005 ended September 30, 2005. Fourth quarter revenues were the highest in the company's history, even surpassing the prior quarter's record breaking total of $303,889. Revenues increased to $397,525, which is 1,331% greater than the last quarter of the prior fiscal year, when revenues were $27,787. Total revenue for the year ended September 30 was $1,013,889, or 333% greater than the prior year's total revenue of $234,021. The revenue results are preliminary and subject to adjustment in the annual audit currently in process; however, the company is confident there will be no material changes from these numbers. Full details of the costs of revenue, increased gross profits and reduced operating expenses will be forthcoming in the annual audited report. SSWM CEO Bruce Beattie commented: "SSWM has made substantial progress this year due to the efforts of our loyal and seasoned employees/shareholders, who foresee the bright future we are building for ourselves in Mexico with our approved biotechnology, excellent strategic partners and environmentally pro-active government officials in the State of Puebla, where Spanish, English and German cultures mix in a successful industrial venue which has embraced our contamination clean-up solutions utilizing local labor and resources. Long-term revenue growth is expected to continue and accelerate as we execute existing and new projects in Mexico, and provide engineering support services for new international opportunities. We have set the stage for significant growth in 2006 and beyond based upon proven technology, government enforcement, new financing and new partnerships, and we all look forward to a prosperous future."
Revenue Comparison
Total
1Q (12/31) 2Q (3/31) 3Q (6/30) 4Q (9/30) Revenue
----------------------------------------------------------------------
2005 (unaudited) $ 64,081 $248,381 $303,889 $397,525 $1,013,889
2004 (audited) $ 90,092 $ 75,401 $ 40,738 $ 27,787 $ 234,021
% change over
2004 -29% 229% 646% 1,331% 333%
The consolidated financial data above has been derived from the company's Financial Statements for the periods ended 12/31 (1Q), 3/31 (2Q), 6/30 (3Q) and 9/30 (4Q) of 2003, 2004 and 2005 (unaudited) as shown. For additional information and a discussion of risk factors, please see the SSWM current 10-Q and past 10-K reports at www.sec.gov About Sub-Surface Waste Management A subsidiary of U.S. Microbics, Inc. (OTCBB:BUGS), Sub-Surface Waste Management of Delaware, Inc. provides comprehensive civil and environmental engineering project management services, including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies. SSWM is capitalizing on its expertise and technology by forming strategic alliances and joint ventures with well established engineering firms. Investors and media can contact Bruce Beattie at 760-918-1860, ext. 105, or bbeattie@bugsatwork.com; or learn about the company by visiting its Web site at www.bugsatwork.com/19.asp. The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request. |
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