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AACS news

September 24, 2003 12:24:00 (ET)


BARTOW, Fla., Sep 24, 2003 /PRNewswire-FirstCall via COMTEX/ -- American Commerce Solutions, Inc. (OTC Bulletin Board: AACS) today released preliminary results of operations for the second quarter ending August 31, 2003.

Daniel L. Hefner, President and Chief Executive Officer of American Commerce Solutions, Inc. stated, "Based upon our preliminary review, we are pleased to announce that ACS' wholly owned subsidiary, International Machine and Welding, Inc. will report substantial improvement in the efficiency of the operation compared to the same six-month period last year. Although sales have been sluggish in the first half of the year, our employees have made the most effective use of the resources available to them and maximized the revenue available."

"With revenue off by over $218,000 or 19.3% for the six-month period, one should expect that all would be disappointed. However, that is not the case with International Machine and Welding, Inc.," Hefner continued. "Cost of sales was reduced by $241,000 from 59.0% to 46.69%, more than making up for the lower revenue. Additionally, gross profit increased from 41.0% to 53.31% over the same period in 2002. Finally, the net operating loss for the six months ended August 31, 2003 is $106,843 compared to same-period losses from operations of $559,316 at August 31, 2002. Losses were reduced by $452,443 or 80.9%," Mr. Hefner explained.

According to Hefner, the Board of Directors of American Commerce Solutions, Inc. has endorsed and implemented, through an experienced management team, a program of sales and operation that places emphasis on generating sales that make use of the more unique machinery in the shop. A horizontal lathe capable of turning a 55-foot long metal shaft with an 11-foot outside diameter and a vertical boring mill that can hold a component equivalent in size to a full size sports utility vehicle are just two of the pieces of equipment that make International Machine and Welding, Inc. an industry standout in the Southeast. By generating more high profit sales, the reduced revenue had substantially less impact than would normally be expected. The machines referenced may be seen at the company website, WWW.AACSSYMBOL.COM .

"I don't want to leave the impression that we are satisfied with the reduced revenue. It is our goal to continue the efficiencies that have been started and build the revenues with improved margins. We want to stop talking about 'less losses' and talk about 'profits'. Meanwhile, we will continue to reduce debt, improve cash flow, cut losses and build on solid fundamentals. We owe no less to our employees, our stockholders or ourselves," Hefner said.

Hefner emphasized that the results are preliminary and subject to adjustment before the filing of the 10QSB in October.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward- looking statements, including but not limited to, certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.

SOURCE American Commerce Solutions, Inc.


Daniel L. Hefner, President and Chief Executive Officer of
American Commerce Solutions, [phone]
/WEBSITE: http://www.aacssymbol.com
(AACS)

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