RALEIGH, N.C., Oct. 29, 2003 (PRIMEZONE) -- HydroFlo, Inc. (OTCBB:HYRF) is pleased to announce that ManageSource Research has continued coverage of HydroFlo, Inc. and has reported on the year ended June 30, 2003. ManageSource also assigned a buy rating and a twelve-month price target for the stock, and is citing the solid fundamentals, patented underlying technology, sales data and competitive advantage as the primary basis for their recommendation.
In the published report, ManageSource President Douglas Rogers comments: "HydroFlo has demonstrated their ability to commercialize their patented technology along with strong demand from private and public sectors. Put simply, HydroFlo PLUS(tm) and ATS(tm) products significantly outperform competing technology, it is environmentally friendly, cost effective to deploy and maintain, and has already resulted in generating compound quarterly sales growth of 120.29% since the 4th quarter of fiscal year 2002."
Interested parties are invited to review the report in its entirety to fully understand the basis for presentation and claims made by ManageSource. The complete report is available for free download from http://www.managesource.com.
HydroFlo 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.
"We are pleased that this analyst group has continued providing coverage on our company, and look forward to future reports," said Dennis Mast, CEO of HydroFlo.
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.