Pure Cycle Corporation Announces First Quarter Fiscal 2009 Results

THORNTON, CO--(MARKET WIRE)--Jan 9, 2009 -- Pure Cycle Corporation (NasdaqCM:PCYO - News) announced the following summary results of operations for the three months ended November 30, 2008 and 2007, respectively:  Three months ended November 30, 2008 2007 Change ------------ ------------ ------------ Total revenues $ 63,800 $ 69,700 $ (5,900) Total cost of revenues (46,500) (41,400) (5,100) ------------ ------------ ------------ Gross margin 17,300 28,300 (11,000) Total operating expenses (603,900) (725,100) 121,200 Other (expense) income Including imputed interest of $1.2 million and $1.1 million, respectively (1,125,500) (1,198,200) 72,700 ------------ ------------ ------------ Net loss $ (1,712,100) $ (1,895,000) $ 182,900 ============ ============ ============ Weighted average shares outstanding (basic and diluted) 20,206,566 20,136,157 ============ ============ ============ Loss per share $ (0.08) $ (0.09) $ 0.01 ============ ============ ============The gross margin was negatively impacted by testing procedures required every three years as well as certain maintenance procedures perfor...
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PURE CYCLE CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Disclosure Regarding Forward-Looking Statements Certain statements in this Quarterly Report, other than purely historical information, including estimates, projections, forecasts, and assumptions are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "anticipate," "believe," "estimate," "expect," "plan," "intend," "would" and similar expressions, as they relate to us, are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. We cannot assure you that any of our expectations will be realized. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, without limitation, the timing of development of the areas where we may sell our water, including uncertainties related to the development of projects the Company currently has under contract, the market price of water, changes in applicable statutory and regulatory requirements, uncertainties in the estimation of water available under decrees, costs of delivery of water and treatment of wastewater, uncertainties in the estimation of costs of construction projects, the strength and financial resources of our competitors, our ability to find and retain skilled personnel, climatic and weather conditions, labor relations, availability and cost of material and equipment, delays in anticipated permit and construction dates, environmental risks, the results of financing efforts and the ability to meet capital requirements, and general economic conditions. We undertake no obligation to update or revise publicly any forw...
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PURE CYCLE CORP Files SEC form 8-K, Other Events

ITEM 8.01 - OTHER EVENTS Pure Cycle Corporation learned today that Lend Lease Lowry Range LLC ("Lend Lease") announced it has terminated its development agreement with the Colorado State Board of Land Commissioners (the "Land Board"). Pure Cycle, in partnership with the Rangeview Metropolitan District (the "District") and the Land Board, has the exclusive right to provide water and wastewater services to approximately 24,000 acres of the 27,000-acre State owned Lowry Range; including about one-third of the development parcel. In December 2006, the Land Board selected Lend Lease as the developer for approximately 4,000 acres of the Lowry Range. The Lowry Range is located in the southeastern Denver metropolitan area in unincorporated Arapahoe County. Since 2006, numerous parties have worked with the Land Board to allow development planning at the Lowry Range to progress, including Arapahoe County, which amended its comprehensive land use plan and obtained urban growth boundary allocation for the property. More recently, Lend Lease sought to change the property's jurisdiction and have the property annexed into the City of Aurora. Pursuant to Aurora's ordinances the City must provide water and wastewater services to all annexed property, which directly conflicts with the 20-year old agreements between Pure Cycle, the District and the Land Board, and jeopardized millions of dollars of future water service royalties which would benefit the School Trust. Pure Cycle and the Land Board worked diligently over the past several months to identify numerous suitable solutions. "Lend Lease may have had many issues surrounding this development. However, the State's Lowry Range water supplies, which consist of over 30,000 acre feet of drought proof groundwater, over 3,000 acre feet of renewable surface water from two streams which flow through the property, and over 25,000 acre feet of reservoir storage sites, clearly demonstrate that the Lowry Range in fact has a s...
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Pure Cycle Corporation Announces Third Quarter Fiscal 2009 Results

THORNTON, Colo., July 10, 2009 (GLOBE NEWSWIRE) -- Pure Cycle Corporation (Nasdaq:PCYO - News) announced the following unaudited summary results of operations: Nine Months Ended May 31, 2009 2008 $ Change $ Change ------------- ------------- ---------------------- Total revenues $ 180,400 $ 194,100 $ (13,700) -7% Total cost of revenues (120,400) (118,500) (1,900) 2% ------------- ------------- ---------------------- Gross margin 60,000 75,600 (15,600) -21% Operating expenses: General and administrative expenses (1,547,900) (1,810,400) 262,500 -14% Other operating expenses (218,800) (220,000) 1,200 -1% ------------- ------------- ---------------------- Loss from operations (1,706,700) (1,954,800) 248,100 -13% Other (expense) income: Interest imputed on the Tap Participation Fee liability (2,862,000) (3,255,000) 393,000 -12% Other 130,200 (63,200) 193,400 -306% ------------- ------------- ---------------------- Net loss $ (4,438,500) $ (5,273,000) $ 834,500 -16% ============= ============= ====================== Weighted average shares outstanding (basic and diluted) 20,206,566 20,...
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PURE CYCLE CORP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Disclosure Regarding Forward-Looking Statements Certain statements in this Quarterly Report, including estimates, projections, forecasts, and assumptions, but excluding purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "anticipate," "believe," "estimate," "expect," "plan," "intend," "would" and similar expressions, as they relate to us, are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. We cannot assure you that any of our expectations will be realized. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, without limitation, the timing of development of the areas where we may sell our water, including uncertainties related to the development of projects the Company currently has under contract, the market price of water, changes in applicable statutory and regulatory requirements, uncertainties in the estimation of water available under decrees, costs of delivery of water and treatment of wastewater, uncertainties in the estimation of costs of construction projects, the strength and financial resources of our competitors, our ability to find and retain skilled personnel, climatic and weather conditions, labor relations, availability and cost of material and equipment, delays in anticipated permit and construction dates, environmental risks, the results of financing efforts and the ability to meet capital requirements, and general economic conditions. We undertake no obligation to update or revise publicly any ...
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Pure Cycle Corporation Announces Second Quarter Fiscal 2009 Results

THORNTON, Colo., April 9, 2009 (GLOBE NEWSWIRE) -- Pure Cycle Corporation (NasdaqCM:PCYO - News Six Months Ended Feb. 28, 2009 Feb. 29, 2008 Change ------------- ------------- ------------- Total revenues $ 117,900 $ 126,500 $ (8,600) Total cost of revenues (83,500) (82,200) (1,300) ------------- ------------- ------------- Gross margin 34,400 44,300 (9,900) Total operating expenses (1,238,000) (1,369,100) 131,100 Other (expense) income Interest imputed on the Tap Participation Fee liability (2,004,000) (2,141,000) 137,000 Other 94,300 (78,900) 173,200 ------------- ------------- ------------- Net loss $ (3,113,300) $ (3,544,700) $ 431,400 ============= ============= ============= Weighted average shares outstanding (basic and diluted) 20,206,566 20,170,588 Loss per share $ (0.15) $ (0.18) $ 0.03 ============= ============= ============= ...
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Pure Cycle Corporation Announces 2009 Fiscal Year End Results

DENVER, Nov. 13, 2009 (GLOBE NEWSWIRE) -- Pure Cycle Corporation (Nasdaq:PCYO - News) announced the following summary results of operations: For the Years Ended August 31, 09-08 08-07 2009 2008 2007 Change Change -------------------------------------- -------------------- Total revenues $ 260,200 $ 282,400 $ 265,700 $ (22,200)$ 16,700 Total cost of revenues (163,400) (166,000) (165,200) 2,600 (800) -------------------------------------- -------------------- Gross margin 96,800 116,400 100,500 (19,600) 15,900 Operating expenses: General and adminis- trative expenses (1,942,200) (2,316,300) (2,476,500) 374,100 160,200 Other operating expenses (293,100) (292,800) (278,300) (300) (14,500) -------------------------------------- -------------------- Loss from opera- tions (2,138,500) (2,492,700) (2,654,300) 354,200 161,600 Other (expense) income: Interest imputed on the Tap Partic- ipation Fee lia- bility (3,733,000) (4,393,000) (4,669,700) 660,000 276,700 Other 143,400 (41,000) 409,300 184,400 (450,300) -------------------------------------- -------------------- Net loss $(5,728,100) $(6,926,700) $(6,914,700) $1,198,600 $(12,000) ====================================== ===...
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PURE CYCLE CORP Files SEC form 10-K, Annual Report

Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operation Overview The discussion and analysis below includes certain forward-looking statements that are subject to risks, uncertainties and other factors, as described in "Risk Factors" and elsewhere in this Annual Report on Form 10-K, that could cause our actual growth, results of operations, performance, financial position and business prospects and opportunities for this fiscal year and the periods that follow to differ materially from those expressed in, or implied by, those forward-looking statements. Readers are cautioned that forward-looking statements contained in this Form 10-K should be read in conjunction with our disclosure under the heading: "SAFE HARBOR STATEMENT UNDER THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995" on page 4. The following Management's Discussion and Analysis ("MD&A") is intended to help the reader understand the results of operations and our financial condition and should be read in conjunction with the accompanying financial statements and the notes thereto included in Part II, Item 8 of this Annual Report on Form 10-K. The following sections focus on the key indicators reviewed by management in evaluating our financial condition and operating performance, including the following: • Revenue generated from providing water and wastewater services; • Expenses associated with developing our water assets; and • Cash available to continue development of our water rights and service agreements. Our MD&A section includes the following items: Our Business - a general description of our business, our services and our business strategy. Critical Accounting Policies and Estimates - a discussion of our critical accounting policies that require critical judgments, assumptions and estimates. Results of Operations - analysis of our results of operations for the three fiscal yea...
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PURE CYCLE CORP Financials

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PURECYCLE CORP Earnings Call scheduled for 4:00 pm ET today

Call DetailsPURECYCLE CORP Earnings Conference Call (Q4 2009)Tue, Nov 17, 2009, 4:00 pm EasternAbout PURECYCLE CORP (NasdaqCM:PCYO)Pure Cycle Corporation, an integrated water and wastewater service provider, engages in the design, construction, operation, and maintenance of water and wastewater systems in Denver, Colorado metropolitan area. It operates and maintains water and wastewater systems, and withdraws, treats, stores, and delivers water to the customers. The company also collects wastewater, which is treated and reused through its dual distribution delivery system. Pure Cycle Corporation markets and sells its water and wastewater products and services to municipalities, developers, and homebuilders. The company was founded in 1976 and is based in Thornton, Colorado.More Info:Quote |Chart |Profile |Reports |Research |Msgs |Insider | Financials...
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