Renegade Venture (RDVN)

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Oh well, a day early!!!


Renegade Discusses 1st Quarter Operating Results and Provides 2004 Guidance
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14 May 2004, 2:48pm ET

TUCSON, Ariz.--(BUSINESS WIRE)--May 14, 2004--Renegade Venture (NEV.) Corp. (OTCBB:RDVN) announced operating results for the first quarter ended March 31, 2004, and provided additional guidance for Renegade for the remainder of 2004.

Operating Results

Total revenue for the first quarter was $3,586,108, up 4% compared to $3,448,225 for the first quarter of 2003. Net profit for the first quarter was a record $528,230, compared to a loss of $121,845 for the first quarter of 2003.

John Sawyer, president of Renegade, commented, "The decision by management in November of 2003 to focus on increasing net profits in favor of simply building revenue continues to serve the company very well. Not only are we steadily improving our balance sheet, but also we are achieving our net profit targets principally by delivering our bread and butter aircraft scheduled maintenance checks under budget. This consistent performance by our operations group at Hamilton Aerospace Technologies has generally resulted in a high level of customer satisfaction. A high level of customer satisfaction is the best marketing tool available to any aircraft repair station and bodes well for our business opportunities for this year and beyond."

Renegade Chairman Ian Herman remarked, "While it remains our goal to build Renegade's annual revenues to over $50,000,000, we feel it is important to grow the company on a solid foundation of profitability. The success we have achieved to date with our wholly owned subsidiary Hamilton Aerospace Technologies is opening the door to new business opportunities that we are now vigorously pursuing."

2004 Guidance

Mentioned Last Change
RDVN 0.35 0.12dollars or (52.17%)
In a press release dated Jan. 28, 2004, management projected 2004 revenues to total close to $20,000,000 with net income before taxes anticipated approximating $2,000,000. Based on the results of the first quarter, management remains confident that it will meet or exceed the projected net income goals. Management is currently pursuing certain business opportunities that, if realized, will enable Renegade to exceed its 2004 target of $20,000,000 in revenues.

About Renegade Venture

Through its Hamilton Aerospace subsidiary, Renegade provides maintenance, repair and overhaul (MRO) services for large passenger jet aircraft to scheduled and charter airlines and aviation leasing companies. Hamilton Aerospace holds a Federal Aviation Administration (FAA) Part 145 Air Agency Certificate, which allows it to perform such services. Hamilton operates from facilities comprising about 21 acres located at Tucson International Airport. These facilities include hangars, workshops and other buildings. Notable Hamilton customers include Jetran International, United Parcel Service, a Boeing Co. joint venture, Goodrich Corp., DHL Worldwide Express, Pegasus Aviation, Ryan International Air, Space World and Falcon Air Express.

Renegade's member Web site is located at www.renegadeventurecorp.com . The Hamilton Aerospace Web site is located at www.hamaerotech.com .

Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the airline industry, demand for Hamilton Aerospace's services, competitive pricing pressures, and the availability of necessary financing. In addition, other risks are detailed in Renegade's Form 10-KSB filed on April 15, 2003. These statements speak only as of the above date, and Renegade disclaims any intent or obligation to update them.

CONTACT: Hamilton Aerospace Technologies, Tucson
Gordon Hamilton, 520-294-3481 (Public Relations)

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SOURCE: Renegade Venture


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