Element 21 Announces the Highest Q1 Revenues to Date
Press Release
Source: Element 21 Golf Company
On 8:30 am EST, Tuesday November 24, 2009
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TORONTO, Nov. 24, 2009 (GLOBE NEWSWIRE) -- Element 21 Golf Company (OTCBB:ETGF - News), the leading manufacturer of advanced Scandium Alloy golf and bio-fiber fishing equipment, announced today record results for its first quarter (Q1) July 1 to September 30, 2009. The Company generated Q1 revenue of $759,000 an increase of 37% compared to revenue of $555,000 in the same period in fiscal 2008.
The strongest Q1 in Element 21's history, follows fiscal growth of 1918% in the last 3 years.
"Fishing, being a cyclical industry, July to October are considered the slowest months of the year. The strong growth in revenues that Element 21 has shown during this period indicates that our Big Box Store distribution continues to be in the ramp up phase. Element 21 is expanding its distribution channels in two of the largest markets -- Texas and Florida (over billion dollars in equipment sales). Strong Q1 indicates that we are heading into another record sales year," said Dr. Hearn, President and CEO.
The Form 10-Q was filed with the SEC on November 16, 2009 and contains the details of the Q1 results.
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