Just a remainder: "CirTran Projects Record Sales and First-Ever Profitable Quarter"
Monday July 11, 8:30 am ET
SALT LAKE CITY--(BUSINESS WIRE)--July 11, 2005--CirTran Corporation (OTCBB:CIRT - News), an international full-service contract manufacturer of IT, consumer and consumer electronics products, today said that it projects reporting record sales for the second straight quarter when it files a 10-Q for the second quarter of fiscal 2005 next month.
Iehab J. Hawatmeh, CirTran's founder, president and CEO, also said that the company is projecting that it will report its first profitable quarter since becoming a public company in 2000.
Mr. Hawatmeh said CirTran anticipates reporting record sales of $4.22 million -- its biggest second quarter ever -- for three months ended June 30, 2005, up 119 over the $1.92 million reported for the same period a year ago. In addition, he said sales for the second quarter were up approximately 1.3 million, or 44%, as compared with record first quarter sales of $3.92 million reported.
Mr. Hawatmeh said CirTran expects to report sales for the six months ended June 30 of $7.14 million, up 178% over the $2.57 million reported for the same period in fiscal 2004.
CirTran's 'Best Start Ever'
"This is clearly our best start ever," said Mr. Hawatmeh. "Revenues are well up, with more than $80 million in new business backlog signed during the first half of 2005, while we've continued to reduce and control costs."
Mr. Hawatmeh said the company's growth has been "both at home in Salt Lake City, where we have added to our contracts, revenues and employee base, as well as at CirTran-Asia, where the company has continued to grow its business base in building products for the sold-on-TV marketplace.
"CirTran has emerged from a down period and is running full steam ahead," he said. "We look forward to rewarding our shareholders' trust and investments as we continue toward a profitable 2005."
