Another Tip From Your Uncle Ernie!!!!!!!!!!!!!!!
Ecovest's "Stocks to Watch" List - Rise in Silver Linked to Green Technology
Investing
Business Wire - March 27, 1998 08:17
Global Water Technologies -- $ 0.075 ( OTC BB: GWTR )
Their core cooling tower business continues to grow. (An Entrepreneur Magazine
"Hottest Company" in '96, Colorado Exporter of the Year in '97). Now President
George Kast is eyeing big opportunities in non-chemical water treatment, as
industries struggle to better reuse and recycle process water to boost
operating efficiencies and comply with tougher environmental standards. An
international client roster that includes ADM, Amoco, GE and Toshiba, their
goal is $100 million in sales in three years. Eighty-nine percent of stock is
held by insiders. New digs in the former Coleman products headquarters. Tel.
(303)233-0400
Global Water Technologies Announces Record Revenues and Earnings
PR Newswire - March 25, 1998 19:22
GWTR %ERN V%PRN P%PRN
------------------------------------------------------------------------
GOLDEN, Colo., March 25 /PRNewswire/ -- Global Water Technologies, Inc.,
(OTC Bulletin Board: GWTR) today announced record-setting results for the
fourth quarter and the year ended December 31, 1997.
Net income for 1997 increased 86.6% to $570,982 or $0.002 per share versus
1996 net income of $305,984 or $0.001 per share. Revenues for calendar year
1997 increased to $18.7 million, 13.2% greater than 1996 revenues of
$16.5 million. For the fourth quarter, net income increased from $130,146 in
1996 to $616,266 in 1997, and revenues increased from $4.8 million to
$7.1 million for the same period.
Contracts awarded during 1997 also reached record levels. The
$24.2 million in contracts awarded in 1997 were significantly higher than the
$15.0 million awarded in 1996. The 1997 amount included $8.7 million of
international bookings (36.2% of the total) as the company continued to expand
its exports. In recognition of its growth in the international market, the
Small Business Administration named the company's Psychrometric Systems, Inc.
subsidiary as Small Business Exporter of the Year for Region VIII which
includes Colorado, Montana, North Dakota, South Dakota, Utah and Wyoming.
George A. Kast, Chairman and CEO, said, "Calendar 1997 was a record year
in all respects. Based on our year-end backlog of $11.6 million plus bookings
during early 1998, we are optimistic that 1998 could be another record year.
We've come a long way since our incorporation in 1993, and even farther since
being ranked #30 in Entrepreneur Magazine's 1996 listing of the 100 Hottest
New Small Businesses in America."
Global Water Technologies, through its subsidiary Psychrometric Systems,
Inc., provides process cooling water primarily through the design, engineering
and construction of cooling towers to industrial and manufacturing clients
worldwide. Also, through its recently formed Advanced Oxidation Technologies,
Inc. subsidiary, the company will provide customers with proprietary
non-chemical, water treatment systems designed to meet the growing need for
environmentally sound water purification and reclamation worldwide.
Global Water Technologies, Inc.
Consolidated Statements of Operations
Year Ended Quarter Ended
December 31 December 31,
\ 1997 1996 1997 1996
Construction
evenues:
United States $14,919,866 $14,602,363 $5,160,482 $3,821,213
International 3,777,426 1,918,181 1,946,431 947,740
Total revenues 18,697,292 16,520,544 7,106,913 4,768,953
Costs and expenses:
Cost of
construction 13,547,484 12,654,634 4,760,572 3,371,538
Selling, general
and administrative 4,031,159 3,130,378 1,348,143 1,124,204
Research and
development 147,895 129,984 32,618 46,066
Total costs and
expenses 17,726,538 15,914,996 6,141,333 4,541,808
Operating income 970,754 605,548 965,580 227,145
Other income (expense):
Interest expense,
net (123,072) (145,758) (39,975) (24,106)
Other, net (2,822) 647 (12,133) (1,185)
Income before income
taxes 844,860 460,437 913,472 201,854
Income taxes 273,878 154,453 297,206 71,708
Net income $570,982 $305,984 $616,266 $130,146
Income per share:
Basic weighted
average shares
outstanding 270,014,801 255,526,642 293,540,489 261,382,500
Basic income per
share $0.002 $0.001 $0.002 $0.000
Fully diluted
weighted average
shares outstanding 270,126,740 255,520,642 293,984,593 261,382,500
Fully diluted income
per share $0.002 $0.001 $0.002 $0.000
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Such statements are subject
to risks and uncertainties that could cause actual results to vary materially
from those projected in the forward-looking statements. The Company may
experience significant fluctuations in future operating results due to a
number of economic, competitive and other factors, including, among other
things, the size and timing of customer orders, changes in laws, new or
increased competition, delays in new products, production problems, changes in
market demand, market acceptance of new products, seasonality in product
purchases, and changes in foreign exchange rates. These factors and others
could cause operating results to vary significantly from those in prior
periods, and those projected in forward-looking statements. Additional
information with respect to these and other factors which could materially
affect the Company and its operations are included in the Company's filings
with the Securities and Exchange Commission and are incorporated herein.
SOURCE Global Water Technologies, Inc.
/CONTACT: Robert L. Tomz, Chief Financial Officer of Global Water
Technologies, Inc. 303-215-1100, or info@psicoolingtowers.com/
/Web site: psicoolingtowers.com
(GWTR) |
