***CirTran to Report Record Sales and Increase of 353% for First Quarter
Business Wire - April 22, 2005 08:30
SALT LAKE CITY, Apr 22, 2005 (BUSINESS WIRE) -- CirTran Corp. (OTCBB: CIRT), an international full-service contract manufacturer of IT, consumer and consumer electronics products, today said that it will report record sales for the first quarter of fiscal 2005 when it files a 10-Q with the SEC next month.
CirTran Founder, President and CEO Iehab J. Hawatmeh said the company will report sales of approximately $2.93 million for the first quarter, up 353% over the $645,612 reported for the same period a year ago.
Hawatmeh said that the $2.93 million represents "the best first quarter in CirTran history," crediting "continued acceptance of our CirTran-Asia subsidiary as a viable entry in the sold-on-TV consumer products industry, and ongoing growth of our core manufacturing business in Salt Lake."
He said that during the first quarter, CirTran-Asia received contracts for more than $30 million (annualized) in new business to be the exclusive manufacturer of consumer and consumer electronics products for the infomercial industry.
"CirTran's record start to 2005 followed a very strong fourth quarter of 2004," said Hawatmeh. "It also continued CirTran's fiscal revival, which was demonstrated in our 10-KSB filing for 2004 a week ago in which we reported a 629% increase in sales and a 77% reduction in losses for the year, as compared with 2003."
About CirTran Corp.
Founded in 1993, CirTran Corp. (www.CirTran.com) is a premier international full-service contract manufacturer of low to mid-size volume contracts for printed circuit board assemblies, cables and harnesses to the most exacting specifications. Headquartered in Salt Lake City, CirTran's modern 40,000-square-foot non-captive manufacturing facility -- the largest in the Intermountain Region -- provides "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities, while reducing costs and ensuring speedy time-to-market.
About CirTran-Asia
CirTran-Asia (www.CirTran-Asia.com) was formed in 2004 as a high-volume manufacturing arm and wholly owned subsidiary of CirTran Corp. with its principal office in ShenZhen, China. CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment and household products manufacturing, focusing on being a leading manufacturer for the multibillion-dollar direct response industry, which sells through infomercials, print and Internet advertisements.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
SOURCE: CirTran Corp.
CirTran Corp., Salt Lake City
Trevor M. Saliba, 801-963-5112
trevor@cirtran.com
or
The Kaminer Group
David A. Kaminer, 914-684-1934 (Press)
dkaminer@kamgrp.com
AI
