Motorvac Announces Preliminary Results for First Quarter Ended March 31, 2000

14 April 2000

Motorvac Announces Preliminary Results for First Quarter Ended March 31, 2000

    SANTA ANA, Calif.--April 13, 2000--MotorVac Technologies Inc. (Nasdaq:MVAC) Thursday announced that on a preliminary basis, prior to a final review by management and outside auditors, the company expects to report net income of about $.05 to $.06 per share on revenue of approximately $3.7 million for the first quarter ended March 31, 2000.
    These results compare with net income per share of $.06 on revenue of $4.1 million in the same quarter of 1999.
    The expected decline in revenue for the first quarter of 2000, as compared to the first quarter of 1999, is due primarily to lower domestic sales, including Canada. MotorVac considers the lower level of sales during the quarter to be an issue of order timing and not indicative of weakening longer term market trends, and the Company continues to remain optimistic about the outlook for full-year 2000.
    MotorVac plans to release final results for the first quarter of 2000 after the close of market trading on April 27, 2000.

    About MotorVac

    MotorVac Technologies Inc. designs, develops, assembles and markets unique technological solutions for the service and repair of automotive fluid systems. Product lines include specialty chemicals and shop equipment for servicing fuel, coolant and transmission systems. MotorVac's products are distributed to service shops, fleets and government agencies in more than 70 countries worldwide. For additional information, visit MotorVac's Web site at www.motorvac.com.
    MotorVac is a registered trademark of MotorVac Technologies Inc.

    This news 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. The company intends that such forward-looking statements shall be protected by the safe harbor provided for in such sections. In particular, statements regarding future results are subject to the risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, governmental and technological factors, including, among other things, changes in laws, the size and timing of customer orders, new or increased competition, unexpected increases in expenses, delays in acceptance of new products, product returns, seasonality in product purchases by distributors and end users, and pricing trends in the automotive after-market industry in general and, in specific, markets in which the company is active. Any of these factors, or others, could cause operating results to vary significantly from prior periods and those projected in the forward-looking statements. The making of these forward-looking statements shall not in any way obligate the company to update or correct the foregoing estimates or projections. Additional information with respect to these and other factors which could materially affect the company and its operations is included in the company's filings with the Securities and Exchange Commission, including its Annual Report or Form 10-KSB for the year ended Dec. 31, 1999 and any subsequent filings.