Tuesday November 24, 9:45 am Eastern Time
Company Press Release
SOURCE: Toups Technology Licensing, Inc.
Toups Technology Licensing Reports Third Quarter Results; Revenues up 332%
LARGO, Fla., Nov. 24 /PRNewswire/ -- Toups Technology Licensing, Inc. (OTC Bulletin Board: TOUP - news; ''TTL'') reported results for the three months and nine months ended September 30, 1998. TTL was formed to commercialize late- stage technologies primarily in the energy, environment and natural resource market segments.
For the nine-months ended September 30, 1998, the Company reported an operating net loss of $(762,450) or a loss of $(0.056) per share on revenues of $1,700,984. For the three-months ended September 30, 1998, the Company reported a third quarter loss of $(206,757) or a loss of $(0.0015) per share on revenues of $811,822. For the month of September, the Company posted net income of $63,812.
''We are encouraged by our profit recorded in the month of September this year,'' said CEO Leon Toups, ''and we look forward to continuing the market introduction and growth of each of our technologies. As we look to 1999, the Company intends to continue growth primarily through acquisition of existing, profitable companies and also through additional exclusive worldwide licensing of technologies which fit within our market segments.''
The Company has five technologies under license and has to date made two acquisitions, established and funded an in-house leasing program and has completed a second round of equity financing. The Company's technologies under exclusive license include: AquaFuel™, an alternative fuel that produces no harmful emissions; Balanced Oil Recovery Lift, a device which is equipment for increasing marginal oil field production; Multi-Purpose Generators which provide electric power co-generation that automatically parallels with the local utility power grid or other power supplies; the Electromagnetic Tire Recycling process that converts scrap tires into marketable products without emissions; and Tunnel Bat, a box culvert reclamation vehicle which is designed for use by DOT contractors for cleaning and de-silting box culverts.
To date, the Company has made two acquisitions, including Advanced Micro Welding, a precision welding and metal fabrication company, and Brounley Engineering & Associates which provides radio frequency power generators for lasers, plasma etching and other applications.
The Company's manufacturing division features Electron Beam & Laser Welding which provides high-precision welding for aerospace, medical and automotive components. The Company maintains an Internet home-page at toupstech.com which contains detailed information on its technologies and acquisitions.
TOUPS TECHNOLOGY LICENSING, INC.
STATEMENTS OF OPERATIONS
Three Months Ended
(Unaudited) (Unaudited)
September 30, September 30,
1998 1997
Sales $811,822 $187,950
Net Operating Loss (207,627) (15,338)
Weighted average number of
shares outstanding 13,632,283 8,881,751
Net loss per share $(0.015) $0.002
Nine Months Ended
(Unaudited) (Unaudited)
September 30, September 30,
1998 1997
Sales $1,700,984 $898,803
Net Operating Loss (762,450) 73,933
Weighted average number of
shares outstanding 13,632,283 8,881,751
Net loss per share $(0.056) $0.008
Contacts: Mark Clancy, Toups Technology Licensing, 727-548-0918, fax 727-549-8188, e-mail, toups@toupstech.com; James Dryer, Public/Investor Relations, GFC Communications, 561-655-7575, fax 561-655-2171, e-mail, jamesdryer@aol.com.
This press release may contain forward-look 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. Although such statements are based on reliable information and past experience, operating results are affected by a wide variety of factors, many of which are beyond the control of the Company. The factors include the levels of order which are received and can be shipped in a quarter; whether and when order options are exercised; customer order patterns and seasonability; contract mix and shifting production and delivery schedules; manufacturing capacity and yield; cost of labor, raw materials, supplies and equipment; technological changes; competition and competitive pressures on pricing; economic conditions in the United States and worldwide, as well as other risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Toups Technology Licensing, Inc.
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