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SMALL BUSINESS
Seychelle Announces Increased Sales and Net Income for the Second Quarter
Business Wire
Seychelle Water Filtration Products, a DBA of
Seychelle
Environmental Technologies, Inc. (OTC Bulletin Board: SYEV), a worldwide
leader in the development, manufacture and sale of proprietary portable
water filtration bottles made several key announcements today. First,
that sales revenue for the second quarter was $632,663 compared to
$247,862 for the prior year. Net income was $164,373, compared to a loss
of $146,524 for the prior year. Second, Seychelle announced that
revenues for the first six months of this fiscal year were $1,031,037,
compared to $477,083 for the prior year. The net income for the first
six months of this fiscal year was of $94,544 compared to a loss of
$270,014 for the same period last year.
Carl Palmer, President and CEO of Seychelle said, “Sales revenue
continues to exceed expectations in spite of the current difficult
economic times and was a direct result of more customers turning away
from expensive bottled water to portable water filtration.” Mr. Palmer
further said, “We also have seen increased demand for our two most
recent products: stainless steel filtered water bottles and our new
drinking water straw. As evidence of this,
Patagonia, a Ventura,
California based major outdoor clothing retailer well known in
environmental circles as a socially responsible company, has ordered
stainless steel bottles for a test market program for some of their US
stores for late October delivery ahead of the Christmas selling season.
If the test is successful, we believe that this could be the beginning
of Seychelles’ move into the retail sector.”
Seychelle also announced continued orders for its advanced filter
systems from humanitarian groups sending bottles overseas for recent
earthquakes and storms; for missionaries in Central and South America,
and faith-based television ministries.
Mr. Palmer went on to say that there appears to be a growing trend by
consumers to be more environmentally conscious and go back to the tap
instead of purchasing expensive bottled water with its long list of
concerns: high cost, PET bottle leaching, quality un-assured and the
billions of plastic bottles going into landfills every year where they
will last for 1,000 years!
As further evidence of Seychelles’ recent growth, the company moved to
new expanded offices and warehouse in late August doubling its space.
This will allow the company to better service the needs of its customers.
With Seychelle portable water filtration, consumers can drink water from
a variety of sources with complete confidence – the tap; rivers,
streams, ponds or creeks. The Seychelle Ionic Adsorption Micron Filter
has been tested extensively by Independent Government laboratories in
the US and throughout the world to strict EPA/ANSI protocols and NSF
Standards 42 and 53.
Go Green…Eliminate Bottled Water!
About Seychelle Environmental Technologies, Inc.
Seychelle Environmental Technologies, Inc. (OTC Bulletin Board: SYEV) is
a worldwide leader in the development, manufacture and sale of a
proprietary filtration system for portable water bottles. For more
information, please visit
www.seychelle.com
or call (949) 234-1999.
Note to Investors
Seychelle is a national, publicly traded company with
25,824,146
outstanding shares of common stock, including a float of approximately
5.8
million shares. This press release may contain certain forward-looking
information about the Company's business prospects/projections. These
are based upon good-faith current expectations of the Company's
management. The Company makes no representation or warranty as to the
attainability of such assumptions/projections. Investors are expected to
conduct their own investigation with regard to the Company. The company
assumes no obligation to update the information in this press release.
Copyright Business Wire 2009
2009-10-26 09:00:00
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