Message #5 From:
NewsBot Date: May 9, 2005 02:19:59 PM
MMRK Mile Marker International, Inc. Announces First Quarter 2005 Results
Mile Marker International, Inc. Announces First Quarter 2005 Results
POMPANO BEACH, Fla.
Mile Marker International, Inc., Pompano Beach
Al Hirsch, 954-782-0604
al@milemarker.com
Mile Marker International, Inc. (OTCBB:MMRK), a specialty vehicle parts distributor, today announced its first quarter 2005 financial results.
In its Form 10-QSB filing with the U.S. Securities and Exchange Commission today, Mile Marker International, Inc. announced that it earned net income of $1,042,029, or $0.10 per common share, for the first fiscal quarter ended March 31, 2005, based on sales revenues of $7,481,723. During the same period in 2004, the Company reported net income of $1,144,652, or $0.12 per common share, based on sales of $7,004,292.
Richard Aho, President and CEO of Mile Marker International, Inc., said: "We are encouraged by the positive trends we see in our operating results and have faith in the long-term growth prospects for our Company. We understand that our quarterly results will probably continue to be volatile because of the timing of orders under our military contracts. As we have repeatedly stressed, the timing of military orders under our five multi-year military contracts is intermittent, unpredictable and dependant upon government budgetary priorities and considerations. While we have a potential military sales backlog of over $66 million, such sales are incremental to our core commercial product sales. Sales of our commercial products increased by approximately 60% from $3,512,349 in the first quarter of 2004 to $5,633,701 in the same period this year and constituted about 75% of our total sales in the first quarter of 2005. Sales of our unique hydraulic winches to the military were $1,848,022 in the first quarter of 2005 compared to $3,491,943 for the same period in 2004, a decrease of approximately 47%."
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel and general economic conditions, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important risk factors that should be considered is contained in the Company's Annual Report on Form 10-KSB and its Form 10-QSB as filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
