EARNINGS: Zenon finishes its best year to date with record breaking highs

See other financial results from SSWM Inc., Strategic Diagnostics, National Waterworks and Pall Corp...

March 9, 2005 (PRNewswire & Business Wire) -- The following financial results were announced recently for Zenon Environmental, Sub-Surface Waste Management, Strategic Diagnostics, National Waterworks and Pall Corp.

Zenon Environmental Inc., an Oakville, ON, Canada, innovator of membrane-based water filtration technologies for use worldwide, reported historical highs for the year ending Dec. 31 in revenue and profit, up 27% ($233.8 million) and 36% ($17.0 million) respectively over 2003 figures. Zenon (www.zenon.com) also recently agreed to acquire Alpha Plan GmbH and Saxonia BioTec GmbH, both of Germany.

Financial results for Carlsbad, Calif.-based Sub-Surface Waste Management Inc. (SSWM) showed revenues down 29% and operating expenses up by 13%, compared to the first quarter of the last fiscal year. However financing activities in the first quarter caused net working capital to increase by $120,588 and total shareholder equity to increase by $203,605 compared to the fiscal year end on Sept. 30. The company had revenues of $64,081 during the three months ended Dec. 31, compared to $90,092 for the same period in 2003. It incurred a net loss of $421,983 for the period. The decrease in revenues is due primarily to the nearing of completion of existing contracts in South Carolina. SSWM, a subsidiary of U.S. Microbics Inc. (www.bugsatwork.com), provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies.

Fourth quarter revenues were up 6.8% to $6.7 million at Newark, Del.'s Strategic Diagnostics Inc., a leading provider of biotechnology-based detection solutions for a broad range of food, water, agricultural, industrial, environmental applications. For the fiscal year ended Dec. 31, revenues were $24 million vs. $25.6 million in 2003, a drop of 6.1%. Fourth quarter net income was $666,000 compared to net loss of $1.7 million a year earlier. Full-year net income was $1.5 million, compared to a net loss of $854,000.
In water and environmental products, revenue increased 11% to $1.6 million for the quarter and fell by 11.4% to $6.1 million for the year.

Waco, Texas' National Waterworks Inc. (www.nationalwaterworks.com), a leading U.S. distributor of water and wastewater transmission products, reported net sales for the three months ended Dec. 31 increased $77.2 million, or 24%, to $399 million over the prior year period. Quarterly net income was $12.7 million vs. $8.2 million for the prior year period. Annual net sales increased $241 million, or 18.8%, to $1.52 billion from $1.28 billion, with net income of $51.2 million compared to $33.6 million a year earlier.

Pall Corp., of East Hills, N.Y., had second quarter sales of $469.5 million, up 9-1/2% from the same period last year. Reported earnings were $32 million compared to $24.9 million last year. For the six months ended Jan. 31, sales increased 10% to $884.2 million, with reported earnings of $53.7 million compared to $49.5 million in the prior year period. Within the General Industrial segment, water processing sales grew 24-1/2%. Pall (www.pall.com) is a global leader in the rapidly growing field of filtration, separations and purification, with its business is organized around two broad markets -- Life Sciences and Industrial. Total revenues for FY2004 were $1.8 billion.

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