MZTI Recently Announced Financial Results; as the Company is Set to Present at the RedChip Small Cap Conference in New York City Next Month at the Waldorf Astoria
Mizati Luxury Alloy Wheels, Inc. (MZTI.PK), a distributor of high-quality luxury alloy wheels for passenger cars, sport utility vehicles, vans and light trucks, recently reported its unaudited financial results for the quarter ended March 31, 2007.
For the quarter ended March 31, 2007, Mizati’s revenues were $1.73 million, an increase of 32% compared to revenues of $1.31 million for the quarter ended March 31, 2006.
Operating Income for the first quarter of 2007 was $354,183, an increase of 48% from $239,603 for the quarter ended March 31, 2006.
The Company’s pre-tax net income for Q1, 2007 was $87,688 compared to $85,843 in Q1 of 2006, an increase of 2%.
The first quarter revenue increase can be attributed to an increase in the number of distributors and dealers across the U.S., as well as greater brand recognition, and stronger sales.
Mizati CEO Hazel Chu said, “I am excited about our first quarter results. We have continued to grow our core business by expanding the customer account base and also by introducing fresh new wheel designs.
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