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Equipment & Systems Engineering Reports Revenue and Net Income Growth in Q1 and Q2 2006
Oct 12, 2006 8:00:00 AM
MIAMI, FL -- (MARKET WIRE) -- 10/12/06 -- According to financial statements published last month, Equipment & Systems Engineering, Inc. (PINKSHEETS: EQSE), a leading manufacturer and global supplier of on-site sodium hypochlorite generation systems for water sanitation, reported total revenue of $889,555 and pre-tax net income of $81,177 for the six-month period ended June 30, 2006. This is compared to total revenue of $794,920 and pre-tax net income of $72,334 for the same period ended June 30, 2005.
This represents a total revenue increase of approximately 11.9 percent and a pre-tax net income increase of approximately 12.2 percent for the six-month period ended June 30, 2006 over the same period ended June 30, 2005. Expressed as a percentage of total revenue, net income rose from approximately 9.09 percent in the first two quarters of 2005 to approximately 9.12 percent in the first two quarters of 2006.
EQSE also reported a substantial improvement to the company's cash flows and cash position during the period. The full financial report is available online at www.pinksheets.com.
"This year, EQSE has increased sales of several higher-margin Aquachlor brand products, which in turn have grown our total revenue and expanded our profits; we have also solidified our leadership position in the markets we serve," said Jose T. Masis, EQSE's CEO and founder. "EQSE continues to deliver value for its shareholders through growing revenues and stable profitability, both of which continue to make EQSE an attractive investment consideration."
In addition to the company's Aquachlor Unit, EQSE also maintains two other successful business units. Its Alternative Fuels Unit is the exclusive reseller of IMPCO and OMVL alternative fuels conversion systems in numerous countries throughout Latin America and the Caribbean; these systems convert gasoline driven engines to operate on gases such as natural gas (CNG) and propane (LPG). Targeting the petroleum industry and many navy installations in Latin America, EQSE's Waste Water Treatment Unit resells electrocatalytical systems manufactured by EnviroVac; these systems convert waste water into safely disposable water using electrolyzed seawater as a disinfectant. The company enjoys high market shares of more than 25 percent for these divisions in each of the countries where it actively participates.
About Equipment & Systems Engineering
Equipment & Systems Engineering, Inc. (PINKSHEETS: EQSE) was founded in 1986 as a provider of packaging and process machinery as well as related consulting services to the petroleum industry in Latin America and the Caribbean. The company has since expanded to become a leading global supplier of alternative fuel and waste water treatment systems, as well as a manufacturer and supplier of a full line of on-site sodium hypochlorite generation systems under the brand name Aquachlor.
For more information, please visit www.equipmentandsystems.com. EQSE Shareholders are encouraged to register on the "Shareholder Registration" page to receive ongoing company news updates.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Equipment & Systems Engineering disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.
Investor Contact:
Jesus Rodriguez
305.776.4535
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