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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: BigTex who wrote (7289)	9/20/1999 7:00:00 AM
From: Spark	Read Replies (1) \| Respond to of 19297

Sepragen Corporation Announces Second Quarter Results Revenues Increase 56 Percent HAYWARD, Calif.--(BW HealthWire)--Sept. 17, 1999--Sepragen Corporation (OTC BB:SPGNA)(OTC BB:SPGNU)(OTC BB:SPGNW) today announced second quarter sales rose 56 percent to $330,206 compared with $211,471 for the same quarter of the prior fiscal year. Revenues for the six-month period, ended June 30, 1999, were $883,867, compared with $843,804 for the same period last year. The Company reported that net losses were reduced by over 50 percent for the quarter to ($193,741) or ($.04) basic per share, compared with a loss of ($438,270) or ($.15) basic per share for the second quarter of the prior year. For the six months ended June 30, 1999, there was a net loss of ($373,494), equivalent to ($.08) basic per share, compared with a net loss of ($785,343) equivalent to ($.28) basic per share. Commenting on the results, Vinit Saxena, CEO of Sepragen said, "Sepragen is proceeding in a disciplined manner to improve profitability in its core biotech business. At the same time, we are aggressively pursuing licensing agreements utilizing our new technologies to produce next generation nutraceuticals in the dairy and soy industries and a debitering process in the citrus industry." Sepragen previously announced license agreements with dairy market leaders Anchor Products, Ltd., of New Zealand, and Carbery Food Ingredients of Ireland, for its patented Sepralac Process, which is used to extract high value ingredients for next generation sports beverages and infant formula. Sepragen Corporation develops and markets technology along with equipment and supplies for process chromatography applications. Sepragen has developed a number of patented applications that provide large market opportunities in the food and beverage industry, including debitering citrus juices, extracting isoflavone (plant estrogen) from soy as well as extracting proteins from whey. The Company holds over 14 issued patents relating to its core technology. The statements in this release that relate to future events or performance, statements about growth, market acceptance, levels of sales and market size and future manufacturing capacity and efficiencies are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties related to the development of markets for the commercial acceptance of the company's products and services, the availability of components, competitors' product introductions and other risks identified in the company's SEC filings. Actual results may differ from those described in these forward-looking statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. CONTACT: Sepragen Corporation Vinit Saxena, 510/476-0650 or Aimee Boutcher, 973/239-2878 (Investor Relations)