CORUNNA, ON--(MARKET WIRE)--Mar 22, 2006 -- Megola Inc. (OTC BB:MGOA.OB - News), a leading environmental solution provider in physical water treatment, microbiological control, wastewater treatment and air purification, announced today a revenue increase for its 2006 Q2 Report, which ended January 31, 2006. ADVERTISEMENT
Megola's financial year runs from August 1 to July 31. Megola's audited 2006 second quarter financials, ending January 31, 2006, show a 784.55% increase in revenue, to $274,616 from $31,046, as compared to the second quarter financials of 2005. Megola's audited 2006 first quarter financials, ending October 31, 2005, increased 333.54% to $202,187 from $46,636 as compared to the first quarter financials of 2005.
In 2005, Megola's total revenues increased 220.81% to $713,135 from $222,294 in 2004.
"We are once again very pleased with our quarter results. We had dedicated this quarter to building on our progress in China, not only by increasing sales but also by manufacturing new products and accessories. We expect this ongoing relationship with our Chinese distributor/manufacturer to enhance our market penetration in Asia and subsequently follow with the same success in North America," says Joel Gardner, Chief Executive Officer of Megola Inc. "We feel that, with our manufacturing structure now in place, we are well positioned for sales growth in North America as we can now offer 'whole house' product solutions for both water and air treatment in the residential market."
For more information about Megola Inc. please visit the corporate website (http://www.megola.com)
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports, and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
Contact: Contact: Investor Relations: KBM Consulting, Inc. Greg Weissman IRinfo*megola.com
Other notable customers include Subway-Parmalat-Frito Lay and HoneyWell also
MGOA reported 784.55% increase in revenue for the quarter just yesterday- ' Megola's audited 2006 second quarter financials, ending January 31, 2006, show a 784.55% increase in revenue, to $274,616 from $31,046, as compared to the second quarter financials of 2005.' ok ok
Posts: 842 | From: Canada | Registered: Oct 2005
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
