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ConMat Technologies, Inc. Mid-Year Results

18 August 2000

ConMat Technologies, Inc announced results for the six months ended June 30, 2000. Sales for the six months ended June 30, 2000 were slightly increased to $6.03 million from $5.99 million in the prior year. ConMat's booked order backlog as of June 30, 2000 was $7.0 million as compared to $6.0 million on June 30, 1999 representing an increase of 15%. Income before income taxes decreased to $143,629 for the quarter ending June 3, 2000 from $221,281 for the quarter ended June 30, 1999. The decrease in income before income taxes reflects one-time expenditures associated with developing the company's e-business platform, the establishment of a South American sales office and recent management actions that have resulted in improved cash flow. Net income for the six months was $73,429, compared to $140,981 in the prior year. ConMat Technologies, Inc. d/b/a conmattech.com is an e-business platform designed to facilitate the conversion of its portfolio of products into fully integrated e-business operations through the application of digital technologies. ConMat's wholly-owned subsidiary, the Polychem Corporation is engaged in the development and manufacture of proprietary custom-engineered plastics and composite products for industrial end users with a special emphasis on the wastewater treatment marketplace. Further information about ConMat and its subsidiary can be obtained via current and past reports on forms 10-KSB and 10-QSB as well as the Company's websites which can be found at






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