MESA, Ariz., April 13, 2005 (PRIMEZONE) -- Humatech, Inc. (OTCBB:HUMTE) today said that its revenues for the company's third fiscal quarter and first nine months of fiscal 2005 were up compared with those of the prior year, and that it had gross profits for both the quarter and nine month periods.
For the quarter ended January 31, 2005, Humatech's revenues of $166,417 were up 300% compared with revenues of $41,746 in the same period last year. The company also reported a gross profit for the quarter of $20,334, versus a loss in the prior 2004 quarter of $4,628.
For the nine months ended January 31, 2005, the company's revenues of $390,772 were up 95% compared with $199,679 in the year ago period. Gross profit for the nine month period was $36,339, up 24% from $29,235 in the year earlier period.
Net loss for the quarter was $230,400, down 16% from $275,271 in the same period last year. For the first nine months of fiscal 2005, the net loss was $972,673 compared with $805,677 in the prior year's comparable period.
About Humatech, Inc.
Humatech, Inc. manufactures all natural nutrient solutions for plants and animals, produced from a proprietary process described as "Iso-Molecular" technology. The company markets Promax(r) to the animal feed industry, and also has an extensive agricultural product line, which it markets in the U.S.A and Europe, as well as its Organic Advantage(r) retail product line, which consists of 12 organic based liquid products ranging in size from a 4oz. Planting Solution, to a 2 1/2 gallon Lawn Food.
Certain information contained in this news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.
Additional information regarding the company, and its product lines, is available at www.humatech.com .