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NORTHRIDGE, CA--October 24, 2000 - Soligen Technologies, Inc. (OTC BB:SGTN),
a rapid manufacturer of complex metal parts using proprietary technology, today
announced operating results for the second quarter and six months ended Sept.
30, 2000.
Revenues increased 5 percent to $1,851,000 for the quarter ended Sept. 30, 2000 from $1,761,000 in the similar quarter last year. Combined revenues for Parts Now and DSPC increased 11 percent to $1,668,000 for the quarter ended Sept. 30, 2000 from $1,496,000 in the similar quarter ended last year.
Gross profit for the quarter ended Sept. 30, 2000 was $543,000 or 29 percent as compared to $392,000 or 22 percent for the similar quarter last year. ``Soligen has managed to increase the core business revenues during this summer, we have also made progress in shrinking our quarterly losses,'' said Yehoram Uziel, Soligen's CEO. ``The second quarter has also seen an addition to our sales team in the Chicago area, and the initiation of a casting development program for aerospace applications. We have started the process of establishing a quality improvement program which will lead us to certification as a QS-9000 organization in the next fiscal year.''
Soligen is able to rapidly manufacture cast metal parts, bypassing the traditional need for tooling, by employing Soligen's DSPC® technology. The DSPC technology is a proprietary fabrication process for metal parts that produces ceramic molds for metal castings directly from a CAD file. Consequently, it enables postponement of design and the fabrication of expensive and time consuming casting tooling until after the parts are functionally tested, thus increasing the probability of making production tooling once and correctly on the first attempt.
Additionally, Soligen rapidly produces production tooling for larger runs of metal castings from the same CAD file as the approved part. By combining three key production elements: DSPC® technology, conventional casting methods, and Computerized Numerical Control (CNC) machining practices, the Company has created the first ``one stop shop'' for functional metal parts that are made directly from a CAD file and that are ready for assembly. This complete service, trademarked as Parts Now®, has become a single source for rapidly manufactured metal parts.
DSPC® and Parts Now® are registered trademarks of Soligen.
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, timing of development and release of new products by strategic suppliers and customers, the effect 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.
Soligen Technologies Inc.
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