DALLAS, July 15, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring SpongeTech Delivery Systems Inc. (OTCBB:SPNG). The report includes financial and investment analysis, and pertinent industry information you need to know to make an educated investment decision.
The investment report on SpongeTech Delivery Systems Inc. (OTCBB:SPNG) should be of particular interest to other cleaning products providers: Ecolab Inc. (NYSE:ECL), Clorox Corp. (NYSE:CLX), Church & Dwight Co. Inc. (NYSE:CHD) and Procter & Gamble Co. (NYSE:PG).
It is available at: http://investorsoup.com/lp/SPNG/
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SpongeTech Delivery Systems Inc. (SPNG) designs, produces and markets unique lines of reusable cleaning products for car care, child care, home care and pet care usages. These sponge-like products utilize SPNG's proprietary, patent (and patent-pending) technologies, and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices, or other ingredients.
In the report, the analyst notes:
"SPNG reported sales of $13.2 million for the third quarter ended February 28, 2009, a 915% increase over revenues reported for the same quarter last year. Net income for the third quarter of 2009 was more than $2,250,000, compared to a net income of $188,482 for the comparative 2008 quarter, reflecting exponential growth over the same period last year.
"Following strong Q3 FY2009, the company continued to announce new orders and customers' addition. In May, SPNG has secured approximately $10 million in new orders. For the month of June the company reported approximately $13.65 million of purchase orders. While, for the month of July the company has secured approximately $6.9 million in new orders to date."
To read the entire report visit: http://investorsoup.com/lp/SPNG/
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InvestorSoup.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. InvestorSoup.com is a Web site wholly-owned by BlueWave Advisors, LLC, which has been compensated fifty-thousand dollars from Pine Mountain Ventures, a shareholder of SPNG, as a marketing budget to manage a comprehensive investor awareness program including the creation and distribution of this report as well as other investor relations efforts. Please read our report and visit our Web site, InvestorSoup.com, for complete risks and disclosures.