Environmental Solutions Worldwide Inc. Announces Second Quarter Sales of $3.2 Million & Record Net Profit of $663,879 for the Period Ended June 30th, 2007
14 August 2007, 1:12:02 PM
CONCORD, Ontario--(BUSINESS WIRE)--Environmental Solutions Worldwide Inc. (ESW) (OTCBB:ESWW - News; FWB:EOW) announced today that the Company has achieved second quarter sales of 3.2 million with a 20.7 percent net profit of $663,879.The results showing the strongest quarter in revenue and profit in the Company's history include: Q2 2007 revenues of $3.2 million, up 1893.1% percent over the same period last year.
Q2 2007 gross profit of 68.3% percent, representing an overall increase of $2,163,459 over the same period last year.
Q2 2007 net profit of $663,879, or $0.01 per common share, up from a 1.4 million loss for the same period last year.
Additional financial information for the Company's second quarter can be found in the Company's Form 10-QSB filed with the Securities and Exchange Commission.
Mr. David J. Johnson, ESW's President and CEO commented, "Our second quarter results were in line with our expectations based on our current schedule of product deliveries. The Company's portfolio of sales opportunities for our proprietary products and services continues to expand and grow within our industry. Today, we are working with our partners and distributors on a number of unique programs which have the potential to drive considerable sales. We continue to be on track to deliver or surpass our 2007 sales expectation of $9 million through the execution of our business plan."
Mr. Johnson further remarked, "Additionally, a letter to Shareholders will be posted to the Investor Section of the corporate website. As part of our continued effort to improve communication with our shareholders, customers and the public, ESW plans to continue to provide this letter on a quarterly basis."
About Environmental Solutions Worldwide Inc.
Headquartered in Concord, Ontario, Environmental Solutions Worldwide, Inc. is a publicly traded company engaged through its wholly owned subsidiaries ESW Canada, Inc. and ESW America, Inc. (the ESW Group of Companies) in the design, development, ISO 9001:2000 certified manufacturing and sales of environmental and support technologies. The ESW Group of Companies currently manufacture and market a diversified line of catalytic emission control products and support technologies for diesel, gasoline and alternative fueled engines. The ESW Group of Companies also operates a comprehensive EPA/CARB & MSHA recognized emissions testing and verification laboratory.
For updated information, please visit the Company's Web site at: www.cleanerfuture.com
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased" "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.
Contact:
Environmental Solutions Worldwide Inc.
Investor Relations, 1-905-695-4142
Investor-relations@cleanerfuture.com
