Date: April 10, 2003
Source: News Room
Environmental Safeguards, Inc. (OTC Bulletin Board: ELSF) has announced a net loss for the year ended December 31, 2002 of $3.04 million, equal to ($0.33) per share, compared to prior year net income of $1.51 million or $0.12 per share. Revenues for the recently completed year were $943,000, compared to $2.99 million in 2001. Company officials said the reduction of revenue and profit in 2002 was largely because of the completion of contract operations in Mexico at the end of 2001. Environmental Safeguards' ITD technology uses a heat-jacketed rotating chamber that vaporizes hydro-carbons and hydrocarbon derivatives from contaminated materials, and a condenser that liquefies the vapor into hydrocarbon liquids of better than 99% purity, for reuse.
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