MLHC.. $0.07..
M Line Holdings, Inc. Announces Results for the Six Months Ended December 31, 2011
M Line Holdings, Inc. (OTC Bulletin Board: MLHC) (“M Line Holdings” or “the Company”), announces its results for the second quarter and six months ended December 31, 2011. The results for the half year reflect a net profit of $274,146. This compares with a net loss of ($55,922) for the six months ended December 31, 2010, an improvement of $330,068.
EBITDA
EBITDA for the first six months of the 2012 fiscal year is $516,877 compared to $185,527 for the first six months of 2011 fiscal year, a significant improvement reflecting the profitability of the group.
George Colin, CEO of M Line Holdings, Inc. stated, “I am always delighted to announce profits particularly when a pattern of profitability and growth is visible. I want to thank and congratulate the management team and staff of the companies who have worked so hard to achieve these results.”
BUSINESS:
M Line Holdings, Inc. owns 100% of two operating subsidiaries, Eran Engineering, Inc., and EM Tool Company, Inc. dba Elite Machine Tool.
Eran Engineering, Inc., (“Eran”) is a customer focused, aircraft component manufacturer offering low cost, build-to-print and assembly services for production and spare parts, with design, development and ongoing engineering support services for customers. Over the last few years, Eran specialized in the manufacture of aircraft interiors parts and medical equipment however with new management, new customers including Goodrich Aerostructures and a new enterprise software system, Eran is positioned for solid growth. Eran now manufactures aircraft structure parts and future plans include an expansion of our manufacturing capabilities. Eran is certified to AS 9100 Rev C.
EM Tool Company, Inc. dba Elite Machine Tool (“Elite”) specializes in the sale of pre-owned machine tools from Mori Seiki, Matsuura, Kitamura and other manufacturers. Elite buys and refurbishes pre-owned equipment for resale. In addition Elite services and rebuilds machine tools. The continuing shortage of new CNC equipment and the growth of the commercial airline business has resulted in an improvement in the revenues and profitability of Elite. Elite’s future plans include an expansion with new facilities in the Midwest and East coast.
M LINE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE SIX MONTHS ENDED DECEMBER 31, 2011 AND 2010
6 month period(s) ended December 31,
2011 2010
Net sales $ 5,205,484 $ 4,185,394
Cost of sales 3,605728 2,747,635
Gross Profit 1,599,756 1,437,759
Operating expenses:
Selling, general and administrative 1,311,086 1,539,788
Amortization of intangible assets 31,952 36,376
Total operating expense 1,343,038 1,576,164
Operating Profit (Loss) 256,718 (138,405 )
Other income (expense):
Interest expense (94,400 ) (37,954 )
Interest income 29,151 10,819
Rental income - 73,699
Change in derivative liability - 35,919
Gain on debt settlement 85,184 -
Gain (Loss) on sale of assets (2,507 ) -
Total other income (expenses) 17,428 82,483
Income (loss) before income tax 274,146 (55,922 )
Income tax provision (2,400 ) (800 )
Net income (loss) $ 271,746 $ (56,722 )
Net income (loss) per share:
Basic and dilutive income (loss) per share: $ 0.01 $ (0.00 )
Weighted average number of common shares under in per share calculations (basic and diluted) 48,934,432 30,877,608
M Line Holdings, Inc.
Tony Anish, 714-630-6253
tony@mlineholdings.com
Source: M Line Holdings, Inc.
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M Line Holdings, Inc. (OTCBB: MLHC):
Web Site
M Line Holdings, Inc. (OTC Bulletin Board: MLHC - “M Line Holdings” or “the Company”), announces that it has now released the new and updated M Line Holdings, Inc., website. The site will be updated on a regular basis and as we expand the content we hope that shareholders, customers and visitors to our site will learn more about our Company.
George Colin, CEO of M Line Holdings, Inc., stated: “This is yet another step in our continuing efforts to improve the availability of information on our Company. We are excited by the continuing progress of the Company and we will continue to take the steps necessary to make our Company more transparent to our shareholders and investors.”
About M Line Holdings, Inc.
M Line Holdings, Inc. (formerly Gateway International Holdings, Inc.), headquartered at 2672 Dow Avenue, Tustin, CA 92780, is currently a reporting company under the Securities Exchange Act of 1934, as amended, with approximately 600 shareholders and two operating subsidiaries, Eran Engineering, Inc., and E. M. Tool Co., Inc. dba Elite Machine Tool.
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First Qtr..
PROFIT
M Line Holdings, Inc. (OTC Bulletin Board: MLHC - “M Line Holdings” or “the Company”), announces its results for the first quarter ended September 30, 2011. The results for the quarter reflect a net profit of $119,712. This compares with a net loss of ($15,134) for the three months ended September 30, 2010. This is an improvement of $134,846. This profit was achieved despite a weak quarter for Elite Machine Tool that was overshadowed by an excellent first quarter by our precision manufacturing division. The quarter profit continues the profit trend established with our first profit for a full year achieved under current management in the fiscal year ended June 30, 2011.
EBITDA
EBITDA for the first quarter of the 2012 fiscal year is $247,054 compared to $120,682 for the first quarter of 2011 fiscal year. This period’s EBITDA is more than double the amount achieved in the same quarter in the last fiscal year.
BUSINESS INFORMATION
In July 2011 we appointed Barton Webb President of Eran Engineering, Inc. Barton has over twenty years experience in the airline industry. Barton has installed a new belief and desire at Eran, a new strategic management structure and together with our new sales director Frank X Leon, a veteran of over twenty five years in aircraft interiors sales, and has created a new work atmosphere that will significantly increase revenues to levels not previously experienced. We are delighted by these important and significant changes at Eran. In addition, in December, we will “go live” on a new “ERP” software system which encompasses our inventory, costing and job control management. The new software will radically improve Eran’s ability to quote and manage work flow as well as provide a very accurate accounting of our inventory of finished goods, raw materials and work in progress.
George Colin, CEO of M Line Holdings, Inc. stated “I am delighted to announce the profit for the first quarter of our fiscal year ended September 30, 2011. {b]This achievement is even more special considering that business in general was slow during this last quarter. With business now improving again, especially in our machine sales division we expect profits to continue to grow during the full 2012 fiscal year.”{/b]
M LINE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE QUARTERS ENDED September 30, 2011 AND 2010
September
30, 2011
September
30, 2010
Net sales $ 2,409,893 $ 1,656,599
Cost of sales 1,655,545 930,024
Gross Profit 754,348 726,575
Operating expenses:
Selling, general and administrative 663,266 716,485
Amortization of intangible assets 18,188 18,188
Total operating expense 681,454 734,673
Operating loss 72,894 (8,098)
Other income (expense):
Interest expense (48,564) (12,418)
Interest income 12,598 6,182
Gain on debt Settlement 85,184 -
Total other income (expenses) 49,218 (6,236)
Income (loss) before income tax 122,112 (14,334)
Income tax provision 2,400 800
NET PROFIT (LOSS) $ 119,712 $ (15,134)
NET LOSS PER SHARE:
Basic and dilutive income (loss) per share: $ 0.00 $ (0.00)
Weighted average number of common shares under in per share calculations (basic and diluted) 44,282,258 30,861,956
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Company Profile for M Line Holdings, Inc.
Business Wire - Nov 11 10:40 EDT
Alert hits:(/m (/m
Company Symbols: NASDAQ-OTCBB:MLHC, Taiwan:2353, OTC-PINK:ACEIY
M Line Holdings is structured to become a diverse group of corporate divisions with specific emphasis on the aerospace industry, new and innovative technology and finance for business.
Its main mission is to become a strategic, innovative group of companies with the knowledge, experience and ability to grow in emerging and established successful market areas. In order to continue this growth M Line will search out distressed companies and assets as well as small to mid sized companies needing management expertise and funding to grow in the marketplace.
Our goal is to increase the revenues and profitability of the Companies while increasing overall investor value.
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Company:
M Line Holdings, Inc.
Headquarters Address:
2672 Dow Avenue
Tustin, CA 92780
Main Telephone:
714-630-6253
Website:
www.mlineholdings.com
Ticker:
(OTCBB:MLHC)
Type of Organization:
Public
Industry:
Aerospace
Earnings Release Dates:
1st Quarter: November 11, 2011
2nd Quarter: February 10, 2012
3rd Quarter: May 11, 2012
4th Quarter: October 12, 2012
Key Executives:
COO: Anthony (Tony) Anish
Investor Relations
Contact:
Anthony (Tony) Anish
Phone:
7146306253
Email:
tony@mlineholdings.com
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2011 Year End numbers...
M Line Holdings, Inc. Announces 2011 Fiscal Year Results
Business Wire - Oct 14 11:29 EDT
Alert hits:(/m (/m
Company Symbols: NASDAQ-OTCBB:MLHC, Taiwan:2353, OTC-PINK:ACEIY, NYSE:BA
Exciting Profit News from M Line Holdings, Inc.
TUSTIN, Calif.--(BUSINESS WIRE)--
M Line Holdings, Inc. (OTCBB: MLHC):
Profit
M Line Holdings, Inc. (OTCBB: MLHC) (“M Line Holdings” or “the Company”) is pleased to announce that the Company has achieved its first full year profit since its fiscal year ended June 30, 2008. Revenues of $9,900,700 for the 2011 fiscal year are 60% higher than revenues for the 2010 fiscal year and were slightly short of our forecasted revenue figure of $10,000,000. The Net Profit after taxes for the 2011 fiscal year was $229,929. This massive achievement, in a still very unstable economy, has seen a positive profit improvement over fiscal 2010 of $1,939,015.
Turn Around
EBITDA for the 2011 fiscal year is $722,551, which is better than the forecasted amount of $500,000. This is an improvement of $1,784,421 over the 2010 fiscal year. We anticipate increased revenues and profit for our current fiscal year.
Business Information
Eran Engineering’s primary business is airplane interior work. This is a huge global market at approximately $2.0 Billion in interior retrofit business in addition to the market for interior business for new aircraft. Eran is currently targeting a very small portion of that business and its orders are increasing.
Elite Machine Tool buys, refurbishes and sells pre-owned CNC manufacturing equipment. With the increase in aerospace business there has been an increase in demand for equipment and Elite expects this trend to continue. Elite is also expecting larger than usual revenues for the remainder of this year due to the cancellation of the 100% tax write-off benefit effective December 31, 2011.
Trends Affecting our Business
The aerospace business in general is experiencing a growth period. Both Boeing and Airbus have seen a spike in demand and expect increased deliveries of planes next year to meet demand from the airlines. Both the Paris Airshow and orders since the show from the airlines have far exceeded expectations and signify a much improved recovery in the aerospace business. Furthermore, due to limited refurbishment of the current airline fleet interiors over the last few years, this segment of the aerospace business is expected to experience considerable growth that should hopefully continue at least until 2014. Eran Engineering, our precision metal manufacturer, is gearing up to meet the anticipated demand.
George Colin, CEO of M Line Holdings, Inc., stated: “I am delighted to announce our first fiscal year profit since joining the Board of the Company. This has been a tremendous achievement by all of the dedicated personnel at Eran Engineering and Elite Machine Tool that make up the M Line family. We are confident that we can not only continue this upward trend but exceed expectations over the next few years.”
M LINE HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED JUNE 30, 2011 AND 2010
2,011 2,010
Net sales $ 9,900,700 $ 6,213,800
Cost of sales 7,150,711 4,848,755
Gross Profit 2,749,989 1,365,045
Operating expenses:
Selling, general and administrative 2,687,213 2,739,523
Amortization of intangible assets 104,458 41,783
Total operating expense 2,791,671 2,781,306
Operating loss (41,682 ) (1,416,261 )
Other income (expense):
Interest expense (103,889 ) (187,788 )
Interest income 21,756 18,925
Rental income 119,700 0
Change in derivative liability 93,488 0
Loss on debt settlement 142,956 0
Gain on sale of assets 0 2,497
Total other income (expenses) 274,011 (166,366 )
Income (loss) before income tax 232,329 (1,582,627 )
Income tax provision 2,400 126,459
NET PROFIT (LOSS) $ 229,929 $ (1,709,086
)
NET LOSS PER SHARE:
Basic and dilutive income (loss) per share: $ 0.01 $ (0.06 )
Weighted average number of common shares under in per share calculations (basic and diluted) 32,603,326 30,861,956
M Line Holdings, Inc.
Tony Anish, 714-630-6253
tony@mlineholdings.com
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Results of Operations for the Year Ended June 30, 2011 and 2010
Introduction
For the twelve months ended June 30, 2011, we generated $9,900,700 in revenues on cost of sales of $7,150,711. With these revenues and cost of sales for the year ended June 30, 2011, we had a net income of $229,929. For the year ended June 30, 2010, we had revenues of $6,213,800, on cost of sales of $4,848,755. With these revenues and costs of sales we had a net loss of $(1,709,086), for year ended June 30, 2010. An explanation of these numbers and how they relate to our business is contained below.
Revenues, Expenses and Loss from operations:
Year ended Year ended
June 30, June 30,
2011 2010
Revenues $ 9,900,700 $ 6,213,800
Cost of Sales 7,150,711 4,848,755
Selling, General and Administrative Expenses 2,687,213 2,739,523
Amortization of Intangible Assets 104,458 41,783
Operating Income (loss) (41,682 ) (1,416,261 )
Interest Expense (103,889 ) (187,788 )
Interest Income 21,756 18,295
Gain on sale of assets - 2,497
Total Other Income (Expense) 274,011 (166,366 )
Net Income (Loss) $ 232,329 $ (1,582,627 )
Revenues
Our revenues for the year ended June 30, 2011 were $9,900,700 compared to revenues of $6,213,800 for the year ended June 30, 2010. Our approximately 59% increase in our revenues from the year ended June 30, 2010 to year ended June 30, 2011, was primarily due to increased revenues in our machine sales division. Our revenues for the year ended June 30, 2011 consisted primarily of sales of CNC machines and machined products.
Cost of Sales
Our cost of sales for the year ended June 30, 2011, were $7,150,711 and consisted primarily of used CNC machines, refurbishment of those machines and raw materials usage, compared to our cost of sales for the year ended June 30, 2010 of $4,848,755. The increase in our cost of sales was primarily due to the need to purchase more equipment to meet the demands of our customers..
Selling, General and Administrative Expenses
Our selling, general and administrative expenses are those expenses we have related to the actual sales of our products and the costs we incur in transporting those products. For the year ended June 30, 2011 our selling and distribution expenses were $2,687,213, compared to $2,739,523 for the year ended June 30, 2010. Our selling, general and administrative expenses for the year ended June 30, 2011, primarily consisted of salaries of $1,593,551, rent of $537,462, legal and professional fees of $185,274 and insurance expenses of $277,373.
AI
