Seychelle Environmental Technologies, Inc. Announces Earnings Results for the First Quarter Ended May 31, 2019; Provides Earnings Guidance for the Second Fiscal Quarter
July 19, 2019
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Seychelle Environmental Technologies, Inc. announced earnings results for the first quarter ended May 31, 2019. For the Fiscal Quarter ended May 31, 2019, Revenue was approximately $680,000 compared to approximately $1,134,000 in the prior year's fiscal quarter. Seychelle had Net income of $47,793 for the fiscal quarter ended May 31, 2019, compared to prior year's fiscal quarter Net income of $92,791. The net income in 2019, compared to the net income in 2018, was the result of a decrease of approximately $450,000 in sales, a decrease of approximately of $320,000 in cost of sales and a decrease of approximately $90,000 in selling, general and administrative expenses.
For the second fiscal quarter, company anticipate increases in sales over company's most recent fiscal quarter and a strong potential for increased income.
Seychelle Environmental Technologies, Inc. is engaged in the clean water business. Through its line of sustainable and innovative filtration products, it provides water for everyone, everywhere, and in every situation. Its products remove a wide spectrum of aesthetic, chemical, and radiological contaminants. This includes tap water contaminants, like PFOA, PFOS, lead, chromium 6, chlorine, chloramines, and VOCs. Its radiological line removes gross beta, radon 222, alpha radium 226, plutonium, uranium, cesium 134 and 137. The Company offers products, including Bottles, Pitchers, Pumps, Showerheads, Straws, and Replacement Filters. The Company offers international lab testing on its products in countries, including the United States, Argentina, Australia, Brazil, China, Germany, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Mexico, Myanmar, Nepal, New Zealand, Pakistan, Sri Lanka, Slovenia, South Africa, Tanzania, United Kingdom, and Vietnam.
Seychelle Environmental Technologies, Inc. Announces Earnings Results for the First Quarter Ended May 31, 2019; Provides Earnings Guidance for the Second Fiscal Quarter