Seychelle Environmental Reports Q2 Loss, However Guidance Positive With Return To Profitability Expected Soon

Seychelle Environmental Reports Q2 Loss, However Guidance Positive With Return To Profitability Expected Soon

By: Dylan Sikes - AllPennyStocks.com News

Monday, October 17, 2016

According to a report published on Waterworld.com, the global demand for water treatment products was expected to reach nearly $60 billion in 2013. The market was expected to grow at a CAGR of 5.7% in that year, which is an impressive growth rate by any standards. Waterworld.com, citing a report from Freedonia Group, noted that developing markets such as China and India will see the fastest growth rate in the next few years. The increase in these countries will be driven by continued industrial expansion and ongoing efforts to expand access to safe water supplies and adequate sanitation facilities, specifically in rural areas. However, this does not mean that developed markets will not see any growth. According to the report, growth in developed markets is expected to be fairly robust mainly due to measures such as an improvement in drinking water quality, reduction in wastewater discharge and an increase in wastewater treatment and reutilization rates.


The outlook for water treatment market augurs well for Seychelle Environmental Technologies Inc. (OTCQB:SYEV), which is doing business as Seychelle Water Filtration Products. Based in Aliso Viejo, California, Seychelle Environmental Technologies is engaged in the design, assembling and distribution of ionic adsorption micron filters specifically for portable filter devices that remove approximately 99.99% of all pollutants and contaminants found in any fresh water source, as well as increase the alkalinity of the water between 8.0 and up to 9.5 pH.

Seychelle Environmental today announced its financial results for the second quarter. For the quarter ended August 31st, 2016, the company reported revenue of $728,232, compared to $2.724 million reported for the same period in the previous year. The company posted a net loss of $148,466 for the quarter, compared to net income of $515,077 reported in the same period in the previous year.

SYEV noted that a sizable share of the losses are directly attributable to the loss of its largest customer in February of last fiscal year. The company added that it has now moved into a larger facility to accommodate its anticipated growth, and the objective of its new efforts will be to expand the production distribution base to minimize the effects of the loss of any one customer.

Shares of SYEV have edged lower in trading today as investors reacted to the company’s second-quarter loss. At last check, the stock was trading 8.05% lower at $0.170 on volume of 57,000, which is nearly 6x the daily average volume of 9,995.

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