Xtreme Companies (fka XTME)

[Screamer]

here is the PR stating the riddance of the mission specific product line:



August 14, 2006 - 4:37 PM EST

close Email this News Article
Your Name
Your Email
Friend's Name
Friend's Email
Receive Copy: yes

XTME 0.037 0.00

Today 5d 1m 3m 1y 5y 10y



Xtreme Announces 2nd Quarter Results; Outlines New Strategic Plan
WASHINGTON, Miss., Aug. 14 /PRNewswire/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME) today announced its results for the quarter ended June 30, 2006. Revenue for the quarter ended June 30, 2006 was ($792,895) vs. $552,300 for the quarter ended June 30, 2005, due to adjustments. Net loss for the quarter ended June 30, 2006 was (.30) per share vs. (.03) per share for the quarter ended June 30, 2005. The Company's complete results can be viewed on its Form 10-QSB for the quarter ended June 30, 2006 by visiting www.sec.gov.

Xtreme CEO Laurie Phillips stated, 'Recently our new management team has made numerous strategic decisions, of which most importantly included the restructuring of our entire operation. It is our assessment that the Company's former management made a number of poor operational, tactical and financial decisions over the past year. To address these issues we've most recently:

* terminated contracts and agreements with non-performing outside
distributors which were harmful to both our short-term and long-term
growth.

* ceased production of the Fire-Rescue and Patrol boats and sold off
related assets to focus exclusively on the commercial production and
marketing of our Challenger Offshore line.

* reorganized our entire production line process and implemented tight
cost control measures in order to eliminate inefficiencies, reduce the
associated costs and significantly improve our margins.

* reduced the number of Challenger models offered in the near term from
29 to 6.

* begun to recruit well respected industry veterans to add to our talent
pool.

She added, 'Going forward in the near-term we plan to:

* continue with our aggressive recruiting in order to assemble a
top-tier, industry-leading management team.

* begin building a solid nationwide dealer and distribution channel.

* begin a full scale national marketing and branding campaign through
effective advertising and media placement.

* continue advancing on what we believe are our current technological
strengths and advantages relative to our competitors.

* showcase our 2007 models at the major national boat shows.

We have a superior offering and as such will compete at the higher end of both the sport cruiser and high performance markets. As a result of our aggressive strategy, we strongly believe that we can deliver solid and quantifiable progress to our shareholders sooner rather than later and look forward to a much improved second half of 2006.'

About Xtreme Companies, Inc.