MMRK News Mile Marker International, Inc. Announces Receipt of Military Orders
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Mile Marker International, Inc. (OTCBB:MMRK), a specialty vehicle parts
supplier, announced the receipt of purchase orders from the U.S.
military totaling $1,006,522 for its unique hydraulic winch/bumper
assemblies.
Mile Marker International Inc. today announced the receipt of several
purchase orders totaling $1,006,522 against two of its four military
contracts for its patented hydraulic winch and bumper assemblies. These
purchase orders, which call for the delivery of 437 units during the
next three months, are the first purchase orders to be received under
the military’s Fiscal Year 2007 budget which
began on October 1, 2006.
Richard Aho, President and CEO of Mile Marker International, Inc., said: “We
expect to ship most of these purchase orders during the fourth quarter
of 2006 since we have been carrying inventory to assemble these military
winches during the past several months. Since the U.S. House of
Representatives passed the 2007 Defense Budget on June 20 of this year,
the Company had expected to receive additional purchase orders earlier
under its existing contracts. However, the U.S. Senate did not agree on
a final version of the 2007 Defense Budget until the last day of the
Congressional session on September 29, 2006. As we have repeatedly
stated, we cannot predict the timing of such military purchase orders,
but we do anticipate receiving additional larger purchase orders under
our other contracts as the military ramps up its maintenance program
again. We currently have approximately $47 million in potential unfilled
orders under four different military contracts which expire between
March 31, 2009 and February 11, 2010.”
Mile Marker International, Inc., through its wholly-owned subsidiary,
Mile Marker, Inc., is a manufacturer and distributor of specialized
vehicle parts primarily for the four-wheel drive recreational, utility
and military vehicle markets. Mile Marker's unique patented line of
hydraulic winches uses a vehicle's power steering pump as its source of
energy.
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.
