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Ecosphere Technologies (ESPH.OB) Announces Major Financial Improvement for the First Quarter

One company that is making major strides in the market place is Ecosphere Technologies. Located in Stuart, Florida, Ecosphere has earned a reputation as a leader in diversified water engineering and environmental services. Today, Ecosphere announced it has reported record revenues and reduced debt for the first quarter ending March 31, 2010.

Ecosphere displayed first quarter revenues that increased over 980% from the same quarter in the prior year providing the company in excess of $2,100,000. This incredible increase in revenues will allow the young company to charter new territory in their already rapidly growing corporation.

Ecosphere also announced it was able to reduce debt by 55% from $8.2 million in the first quarter of 2009 to only $3.7 million for the first quarter of 2010. This is a major accomplishment for the young company and clearly shows that management knows what they are doing.

The leader of the Ecosphere management team is Dennis McGuire who serves as the company CEO. When asked what these announcements will mean to the future of Ecosphere, McGuire was quoted as saying, “We are very pleased to report this record revenue growth and debt reduction to our shareholders. It is a direct result of our patented technology being accepted by the energy companies. As we move in to the second quarter our intensified sales and marketing efforts have resulted in a number of paid pilot programs scheduled to take place for numerous leading exploration and production companies.”

Currently, Ecosphere is trading in the $1.03 range and making a steady climb up the charts. With improved revenues and a strong movement towards debt reduction, Ecosphere is a company for investors to keep an eye on.

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