LITTLE ROCK, Ark., May 24 /PRNewswire/ -- Ammonia Hold, Inc. (OTC Bulletin Board: AMHD) today announced third quarter revenue for the period ended March 31, 1999 of $693,698, an all-time record for the Company and an increase of 93 percent over third quarter revenue of $360,236 for the same period last year. Net income for the three months ended March 31, 1999 was $128,080 as compared to $68,563 for same period ended March 31, 1998. For the nine months ended March 31, 1999, revenue totaled $1,750,222 as compared to revenue of $849,103 for the same period last year. Net income was $187,316 for the nine months ended March 31, 1999 as compared to $93,523 for the nine months ended March 31, 1998. "These results reflect the progress achieved from the implementation of our new marketing campaign and establishment of new customer relationships," stated Michael D. Parnell, President and Chief Executive Officer. "Early indications are projecting a record fourth quarter with sales for the month of April exceeding $500,000. Additionally, with the integration of Super Dry Industries well underway and on schedule, we feel that the Company is now better aligned strategically to capitalize on our expanding opportunities." Ammonia Hold, Inc. manufactures and distributes patented products to reduce odor and ammonia emissions from animal waste, landfills and municipal biosolids. The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. For more information, please contact Ed Schuchardt with investor relations at 800-513-9694 or Michael D. Parnell with Ammonia Hold, Inc. at 501-676-2994. Ammonia Hold, Inc. and Subsidiary Statement of Operations For the Three Months Ended March 31, 1999 1998 (Unaudited) (Unaudited) TOTAL REVENUES $693,698 $360,236 COST OF SALES 381,534 173,293 GROSS PROFIT 312,164 186,943 GENERAL & ADMINISTRATIVE EXPENSES 410,766 149,585 OTHER INCOME 68,682 31,205 OTHER COMPREHENSIVE INCOME 158,000 --- INCOME (LOSS) BEFORE INCOME TAXES 128,080 68,563 PROVISIONS FOR INCOME TAXES --- --- NET INCOME 128,080 68,653 NET (LOSS) PER SHARE $ 0.01 $ 0.009 WEIGHTED AVERAGE OUTSTANDING SHARES 7,657,190 7,349,728 Ammonia Hold, Inc. and Subsidiary Statement of Operations For the Nine Months Ended March 31, 1999 1998 (Unaudited) (Unaudited) TOTAL REVENUES $1,750,222 $849,103 COST OF SALES 1,033,481 432,436 GROSS PROFIT 716,741 416,667 GENERAL & ADMINISTRATIVE EXPENSES 1,076,879 424,372 OTHER INCOME 389,454 101,228 OTHER COMPREHENSIVE INCOME 158,000 --- INCOME (LOSS) BEFORE INCOME TAXES 187,316 93,523 PROVISIONS FOR INCOME TAXES NET INCOME 187,316 93,523 NET (LOSS) PER SHARE $ 0.02 $ 0.01 WEIGHTED AVERAGE OUTSTANDING SHARES 7,967,190 5,489,519  