Chemical emulsion sales for the current quarter were 4.7 million pounds, compared to 2.5 million pounds in the June 30 quarter last year. The dramatic increase in the Company’s chemical emulsion sales reflects the increase in production by Headwaters’ licensees. During the quarter ended June 30, 2001 licensees sold 3.0 million tons of alternative fuel, compared to 1.3 million tons sold in the June 30, 2000 quarter. Production and sales figures should continue to increase as the Company’s licensees improve production
Kirk A. Benson, Chairman and CEO, commented, The continued increases in production and sales figures indications that Headwaters is on track to exceed its previously stated 75 cents EPS number for fiscal 2001, as well as attaining its 30% growth rate for fiscal 2002 and 2003. Headwaters is planning on releasing its June 30, 2001 earnings results on July 26th before the opening of the market. There will be a follow-up conference call scheduled the same day at 9:00 a.m. MDT . We welcome the opportunity to discuss the June 30 earnings results and address your questions and comments at that time.
