MATRIX Penny Stocks

[findit]

VLVT cheap at .013 130 million shares and profitable.

Wednesday January 14, 7:00 am ET


CITY OF INDUSTRY, Calif., Jan. 14 /PRNewswire-FirstCall/ --Veltex Corporation (OTC: VLVT - News) today released its audited financial statements showing the company had Net Income of $1,653,494 on Revenues totaling $13,902,120 for Fiscal Year 2002 representing an increase of 26% over FY 2001 Net Income and 60% over FY 2001 Revenues. Audited Net Income for FY 2001 was $1,313,839 on Revenues of $8,741,348.
ADVERTISEMENT


The Audit Report is available on the company website: http://www.VeltexCorporation.com .

The company plans to release preliminary financials for the First and Second Quarters of 2003 shortly. The full year 2003 numbers are expected to show a healthy increase in both Revenue and Net Income over FY 2002 and will be released in a few months.

Veltex Corporation is a vertical holding company composed of three divisions: Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Veltex Transportation, a trucking company.

http://www.veltexcorp.com

http://www.veltexapparel.com

http://www.veltextransportation.com

Safe Harbor forward-looking statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.




--------------------------------------------------------------------------------
Source: Veltex Corporation