It's amazing how a company making millions of dollars a year can go from 9 million shares in Oct 2005 to 16 million shares in June 2006 to the stated 28.6 now (whenever now means on last press release). Not to mention the Matin's famous buy back share scheme. No wonder there are no "company men" posting anymore. They have been had.
USA : Apparel maker Veltex Corp estimates for 2006 guidance
October 25, 2005
Apparel store Veltex Corporation announced its forward-looking estimates for 2006. The Company expects to continue its successful growth trend with further good advances in revenue and profitability.
Veltex had previously announced that 2005 gross revenues are projected to surpass $60 million with net income of between $9 and $10 million. There are currently 9,732,087 shares outstanding with expected 2005 net earnings of $.92 - $1.02 per share.
Javeed Matin, CEO of Veltex Corporation commented, "All of divisions continue to grow at record levels and have brought on many new distributors in the past few months. They are very proud of rapid expansion and growth progress since 2001 when total revenues were $8.7 million. They are committed to maximizing share valuations for loyal shareholders and expect to announce further synergistic acquisitions in the future."
Apparel & textile products provider Veltex Corporation has four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the US market.
Veltex, a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100 percent cotton twill, denim, and sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
Veltex Corporation
USA : Veltex Corporation sees strong earnings for 2006
June 28, 2006
Apparel maker Veltex Corporation announced that due to accelerating demand for its products and in a move to improve efficiencies Veltex-Canada and Veltex-Explorer have merged as Veltex-Canada and relocated to a new, larger and more modern facility.
Javeed Matin, CEO of Veltex Corporation stated: "We are very encouraged with the results of our first quarter as we continue to grow our business at a rapid pace. Our immediate goal has been to accumulate sufficient product in our warehouses to satisfy the rising demand for our products as new licensing agreements come on-line. Our expectations are based upon commitments from our new retail clients who have been extremely encouraging in this regard as well as the response we are receiving from our promotional product distributors throughout Canada.”
“To that end we have moved our Veltex-Canada operation to a new 30,000 sq ft warehouse located at 146 Sparks Ave. North York, ON M2H 2S4. Our new facility will insure our ability to supply our retail and promotional products clients in a more efficient manner, assuring them and us a reliable and profitable future. The new warehouse is presently open," he added.
He continued by saying, "We expect revenue in the promotional products division alone to exceed $6,000,000 this year and grow to more than $10,000,000 with our new facility over the next 12 months."
Projections in the retail supply arm will be forthcoming as they are developed. The shares outstanding remain at 16,541,309.
Veltex Corporation is a vertical manufacturing import and distribution company composed of four divisions: Veltex Apparel, Veltex-Canada, Velvet Textile Mills and KCA Garment Industries.
Veltex Corporation
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