PCYO Pure Cycle Corp

Pure Cycle Corporation (NASDAQ: PCYO) today announced results for its third quarter ended May 31, 2005. Pure Cycle (the "Company") posted a loss of $720,000 ($.05 per share) on revenues of $163,200 for the nine months ended May 31, 2005, compared to a loss of $370,300 ($.05 per share) on total revenues of $132,900 for the nine months ended May 31, 2004. The increased loss is mainly attributable to higher general and administrative costs, higher healthcare costs and higher professional fees. Financial highlights are presented below. The Company will hold a conference call to discuss the third quarter financial results which will be hosted by the Company's President, Mark W. Harding. Conference Call Information -0- *T What: Third quarter of fiscal 2005 earnings release When: July 14, 2005, at 3:00 p.m. Mountain. To Listen: Click on the link posted on the Company's Web site: www.purecyclewater.com. Please log in 5 minutes before the call in case any downloads are required. To Participate: To participate in the call dial toll-free: 877-407-9210, also log in to our Web site to view the slides. *T Replay Information The call will be available for replay until 11:59 p.m. on July 21, 2005, by dialing: Toll-free: 877-660-6853 Playback account number: 286 Playback conference ID: 160478 A digitized replay will be available on the Company's Web site through October 14, 2005. For questions, please contact Investor Relations at info@purecyclewater.com. -0- *T FINANCIAL HIGHLIGHTS Table of Results (unaudited) ---------------------------------------------------------------------- Nine Months Ended May 31, ------------------------- 2005 2004 ------------- ----------- Total revenues $163,200 $132,900 Total cost of revenues (23,800) (17,600) ------------- ----------- Gross margin 139,400 115,300 Total operating expenses (947,600) (348,200) Other income (expense) 88,200 (137,400) ------------- ----------- Net loss $(720,000) $(370,300) ============= =========== Weighted average shares outstanding (basic and diluted) 13,553,000 8,079,000 ============= =========== Loss per share $(0.05) $(0.05) ============= =========== *T -0- *T Balance Sheet Data ---------------------------------------------------------------------- May 31, 2005 August 31, 2004 --------------- ---------------- (unaudited) Current assets $4,983,100 $5,738,700 =============== ================ Total assets $25,029,700 $25,625,600 =============== ================ Current liabilities $63,500 $183,900 =============== ================ Total liabilities $9,728,800 $12,302,100 =============== ================ Total stockholders' equity $15,301,000 $13,323,500 =============== ================ *T Company Information Pure Cycle Corporation owns water assets located in the Denver, Colorado, metropolitan area and on the western slope of Colorado. Pure Cycle provides water and wastewater services to customers located in the Denver metropolitan area which includes the design, construction, operation and maintenance of water and wastewater systems. Our common stock is traded on the NASDAQ SmallCap market under the symbol "PCYO." Additional information including our recent press releases and our fiscal year ended August 31, 2004, Annual Report are available at www.purecyclewater.com, or you may contact our President, Mark W. Harding, at 303-292-3456.