FLAGSTAFF, Ariz., Oct. 25, 2018 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing rat populations through fertility control, announced today that preliminary sales for the third quarter of 2018 were approximately triple those of the immediately preceeding second quarter of 2018.
"There were several factors at play during this past quarter, including the impact of sales promotions that were rolled out in the second quarter and continued expansion of sales in California," said Dr. Loretta P. Mayer, co-Founder and CEO of SenesTech.
"Based on preliminary, unaudited results, we expect net revenues for the third quarter – that is revenues net of promotional expenses – to come in at between $100,000 and $110,000" said Tom Chesterman, EVP and CFO for SenesTech.
Dr. Mayer continued, "We also have positive expectations that these trends and continued growth will continue due to three key factors:
- The removal of the "Restricted Use Pesticide" classification from ContraPest® which the company received on October 18, 2018,
- The launch of the new bait delivery system designed to fit in the Bell Labs PROTECTA EVO Express which occurred in the fourth quarter of 2018, and
- Sales from national accounts that have been in negotiation."
The Company expects to release third quarter earnings on or about November 12th.
Virtual Investor Conference Presentation
Loretta Mayer, Chair, Chief Executive Officer and Co-Founder of SenesTech, and Tom Chesterman, Chief Financial Officer, will present at a Lytham Partners Virtual Investor Conference on Thursday, November 1, 2018 at 2:00pm ET (11:00am PT) to discuss sales, revenues and related topics. The presentation is available online with interested parties able to participate by following the webcast links below at the time of the presentation.
The presentation will include an update on sales trends and prospects. Interested parties can listen and will be able to ask the speakers questions in real-time.
November 1, 2018
2:00 pm ET / 11:00am PT
A replay of the presentation will be available on demand following the conclusion of the live event.
ContraPest® is an innovative technology that targets the reproductive capabilities of Norway and roof rats. As a highly palatable liquid, the formulation promotes sustained consumption, helping to reduce fertility in both male and female rats, bringing populations down and keeping them down. Our delivery system is designed to minimize handler exposure, and ContraPest is dispensed inside tamper resistant bait stations, minimizing the risks to non-target species.
As a versatile tool, ContraPest can be used within Integrated Pest Management (IPM) programs to help reduce reproduction and magnify the success of IPM protocols or as a standalone, non-lethal solution for customers that are looking to reduce or eliminate the use of lethal methodologies.
Please read and follow all label instructions. Target species: Norway and roof rats.
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" involve estimates, assumptions, risks and uncertainties and describe future expectations, plans, results, or strategies. Forward looking statements are generally preceded by words such as "may," "future," "believe," "plan," "will" or "should," "continue," "expect," "anticipates," "eventually," "projected" or other comparable terminology. Such forward looking statements include, but are not limited to: our expectations regarding our utilization of operating cash, our expectations regarding operating results, and our expectations related to our product messaging and distribution relationships. You should not unduly rely on forward looking statements because such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
Investor: Robert Blum, Joe Dorame, Joe Diaz, Lytham Partners, LLC, 602-889-9700, firstname.lastname@example.org
Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143
SOURCE SenesTech, Inc.