Message #18 From:
NewsBot Date: August 18, 2005 02:00:00 AM
SOYL News American Soil Technologies Announces Second Quarter 2005 Results; Revenues Increase 65% over Previous Year's Quarter
PACOIMA, Calif.--(BUSINESS WIRE)--Aug. 18, 2005--American Soil Technologies, Inc. (OTCBB:SOYL), a leading supplier of super-absorbent polymer soil amendments and other related products in the multi-billion dollar turf, retail, horticulture and agricultural markets reported revenues for the second quarter ended June 30, 2005 of $217,710 compared to $142,625 reported for the comparable period in 2004. For the six months ended June 30, 2005 the Company reported revenues of $470,007 as compared to revenues of $383,533 for the comparable period in 2004.
The increase in revenue is primarily attributed to improved product sales and marketing efforts as well as the expansion of its business emphasis in less seasonally sensitive channels.
Carl Ranno, President and CEO of American Soil Technologies, stated, "The considerable increase in the revenue growth of our products substantiates the growing market in the agricultural industry and in particular the demand for our proprietary products. We expect that the demand for our products will add quickly to our revenue growth and anticipate a breakeven point by the first quarter next year."
About American Soil Technologies Inc.
American Soil Technologies is in the $150 billion agricultural industry. The company develops, manufactures and markets cutting-edge technology that decreases the need for water in agriculture and other plant-growing environments while increasing crop yield and reducing the environmental damage caused by common farming practices. The company has an exclusive license to two method patents with cross-linked and linear polymers as their basis. The company also holds three patents on a revolutionary new machine, the M-216 Polymer Injector, designed to install its liquid products in mature turf as well as some standing crops. The machine has been built, tested and is now operational.
More product information can be found on the corporate Web site, located at www.americansoiltech.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
