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News Release
SOLIGEN REPORTS SECOND QUARTER RESULTS
-- Company’s Core Business Rose 21% for the Second Quarter
and 34%
for the First Six Months --
(All figures are in U.S. dollars unless otherwise noted)
Northridge, CA, October 30, 1998 -- Soligen Technologies, Inc. (AMEX:SGT.EC), today reported operating results for the second quarter and six months of fiscal 1999. Total revenues for the quarter ended September 30, 1998 were $1.17 million compared with $1.26 million for the second quarter of the previous year. For the first six months, revenues totaled $2.81 million up 12% from $2.50 million in the same period of the previous year. The core business revenues for the second quarter increased 21% to $886,000 up from $730,000 in fiscal 1998. For the first six months, core business revenues increased 34% and reached $2.20 million up from revenues of $1.65 million in the same period last year. Net loss for the quarter was $715,000 or $0.02 basic and diluted loss per share, compared with net loss of $362,000 or $0.01 basic and diluted loss per share in the same period of the previous year.
"The second quarter has been traditionally one of our slowest periods of the year" said Yehoram Uziel, Chairman and CEO. "The first half of fiscal 1999 has shown increased activity in our Parts Now program which is very important for our long term growth."
Soligen's Direct Shell Production Casting (DSPC) technology is a proprietary fabrication process for metal parts that produces ceramic molds for metal casting directly from a Computer Aided Design (CAD) file. In 1996, Soligen broadened its offerings by combining DSPC with conventional casting and CNC machining practices to offer a "one stop shop" service called Parts Now. This enables to substantially reduce the time and costs of bringing new products to market by quickly fabricating metal parts from the engineer's CAD file. Major applications include rapid manufacturing of functional prototypes and tooling for mass production of parts in a variety of industries including automotive, aerospace, hydraulic and pneumatic pumps and valves, turbines, power generators, and industrial products.
Except for the historical information herein, the matters discussed in this news release include forward-
looking statements that may involve a number of risks and uncertainties. Actual results may vary
significantly based on a number of factors, including, but not limited to, risks in product and technology
development, market acceptance of new products and continuing product demand, the impact of
competitive products and pricing, changing economic conditions both here and abroad, time development
and release of new products by strategic suppliers and customers, the effort of the Company's accounting
policies and other risk factors detailed in the Company's most recent annual report and other filings with the
Securities and Exchange Commission.
DSPC® and Parts Now® are registered trademarks of Soligen
Soligen Technologies Inc.
Summary of Operations
| Three Months Ended | Six Months Ended | ||||
| Sept 30, 1998 | Sept 30, 1997 | Sept 30, 1998 | Sept 30, 1997 | ||
| Revenues | $1,167,000 | $1,264,000 | $2,807,000 | $2,497,000 | |
| Net loss | $ (715,000) | $ (362,000) | $ (918,000) | $ (661,000) | |
| Net loss per basic and diluted share | $(0.02) | $(0.01) | $(0.03) | $(0.02) | |
| Weighted average number of shares outstanding | $32,682,000 | 32,601,000 | 32,682,000 | 32,021,000 | |
| Contact: Yehoram Uziel, Soligen Technologies, Inc. (818) 718-1221 |
| Email:Yehoram@PartsNow.com |