RALEIGH, N.C., Feb. 18, 2004 (PRIMEZONE) -- HydroFlo, Inc. (OTCBB:HYRF) today announced financial results from its fiscal 2004 second quarter ended December 31, 2003. Revenues for the six-month period increased by $54,108 or 102.1% and total $106,608, versus revenues of $52,500 for the same six-month period in fiscal 2003.
More detailed information on HydroFlo's financial results is set forth in a Form 10-QSB filed on February 13, 2004 with the Securities and Exchange Commission.
The company's revenues for the three-month period ending December 31, 2003 increased by $7,790 or 26.0% and total $37,790, versus revenues of $30,000 for the same three-month period the previous year. HydroFlo revenues were generated from the sales and installations of systems for use at the City of Greensboro, North Carolina, North Carolina State University for testing use with animal waste, to Carolina Water Service for use at Harrisburg, North Carolina, and Tyson Foods for use in Arkansas.
Dennis Mast, CEO of HydroFlo commented, "These increased revenue numbers, while modest, do indicate steady growth and greater activity for the company in 2004 as compared to the previous year. Although the company is still operating at a financial loss position, sales inquiries are increasing due to successfully operating units in place and increased activity by our independent marketing representatives. This, in concert with the company's commitment to more significant financing and an expansion of operations into the global market, is designed to bring greater value for our shareholders."
About the Company
HydroFlo (www.hydroflo-inc.com) is in the business of providing aeration equipment used for the pre-treatment of wastewater. Using the patented Pressure Line Up-Stream or PLUS pre-treatment system, customers begin the treatment process at their pumping stations, prior to the wastewater reaching a treatment plant. The company also provides a full range of related services to companies and municipalities to treat their wastewater at the treatment plant by the use of the energy efficient aeration systems in treatment lagoons.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.