Date: February 13, 2003
Source: News Room
Windswept Environmental Group, Inc. (OTC: WEGI) has announced operating results for the three months ended Dec. 31, 2002. Revenues decreased by $7.1 million or 55% to $5.9 million for the period ended Dec. 31, 2002 from $13.0 million for the period ended Jan. 1, 2002. The net loss for the period ended Dec. 31, 2002 was $202,651 or $.00 per common share, compared to net income of $598,885 or $.01 per common share for the period ended January 1, 2002. The decrease in revenues and profitability is primarily attributable to the absence of work performed in downtown Manhattan related to the terrorist attack on the World Trade Center, which occurred in the comparable period in the prior year. The company has been able to sustain revenue streams, other than from large catastrophes, by obtaining large mold and other remediation contracts and projects. More information: www.tradewindsenvironmental.com.
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