Pure Cycle Corporation Announces Second Fiscal Quarter Ended February 29, 2016 Financial Results
(firmenpresse) - DENVER, CO -- (Marketwired) -- 03/30/16 -- Pure Cycle Corporation (NASDAQ: PCYO) today reported financial results for its second fiscal quarter ended February 29, 2016.
"We are pleased to report our results for the three and six months ended February 29, 2016. During the three months ended February 29, 2016 we discontinued our farm operations. We continue to focus on our core water utility business and are seeking opportunities to expand our operations both organically with Sky Ranch as well as strategic acquisitions," commented Mark Harding, President of Pure Cycle Corporation.
We will file our Form 10-Q on Wednesday April 6, 2016 and will host a conference call on Thursday April 7, 2016, at 4PM Eastern (2PM Mountain) to discuss these results. Call details are below. Additionally, we will post a detailed slide presentation which overviews our operations and presents summary financial results on our website prior to our call which can be accessed at .
The following table summarizes results of operations for the three and six months ended February 29, 2016 and February 28, 2015:
Revenues decreased approximately 80% and 79% during the three and six months ended February 29, 2016 compared to the three and six months ended February 28, 2015, respectively. The decreases are attributable to a decrease in frack water sales.
Our summarized financial position as of February 29, 2016 and August 31, 2015 is as follows:
CALL DETAILS
When: 4PM Eastern on Thursday April 7, 2016
Call in number: 1-855-241-1929 (no pass codes required)
International Call in number: 1-443-295-9247
Replay available until: April 14, 2016
Replay call in number: 1-855-859-2056
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Forward-looking statements are all statements, other than statements of historical facts, including in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, such as the transformative nature of the sale of our farms, the focus on our water utility assets, and our position to take advantage of new opportunities to expand our water services Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ from projected results include the risk factors discussed in Part I, Item 1A of our most recent Annual Report on Form 10-K and those factors discussed from time to time in our press releases, public statements and documents filed or furnished with the U.S. Securities and Exchange Commission. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated or intended. Except as required by law, we disclaim any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Pure Cycle owns water assets in the State of Colorado in the Denver, Colorado metropolitan area. Pure Cycle provides wholesale water and wastewater services to customers located in the Denver metropolitan area including the design, construction, operation and maintenance of water and wastewater systems.
Additional information including our recent press releases and Annual Reports are available at , or you may contact our President, Mark W. Harding, at 303-292-3456 or at .
Mark W. Harding
President
303-292-3456
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Datum: 30.03.2016 - 14:30 Uhr
Sprache: Deutsch
News-ID 1424955
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