(COMTEX) B: NATIONAL MANUFACTURING TECHNOLOGIES INC - Two Million Dol
B: NATIONAL MANUFACTURING TECHNOLOGIES INC - Two Million Dollar Order
New York, New York, Apr. 06, 2000 (Market News Publishing via COMTEX) --
National Manufacturing Technologies Inc. ("NMT"), a value-added, vertically
integrated manufacturer of enclosed electronic systems and their various
sub-assembly components, Thursday announced that it has been awarded over $2
million of orders for the manufacture of printed circuit board assemblies from
one of the largest U.S. manufacturers of data storage and storage area network
solutions for the telecommunications industry and Internet service providers.
NMT began shipping these orders in March 2000, and will complete this quarterly
requirement within 90 days, prior to June 30, 2000. In subsequent periods, the
company expects to additionally provide metal fabrication, box build and test
services to this customer. The company projects this new business will add a
minimum of $6-8 million of revenue over the next 12 months.
"This represents the largest piece of new business our Electronics Group has
landed to date," stated Steve Jones, vice president and general manager of NMT's
Electronics Group. "We expect the rapid growth of this premier customer to
continue, which will result in a growing opportunity for NMT," added Jones.
The company also announced that it ended its quarter with a record setting
revenue month in March, which will result in March 31, 2000 quarter ending
manufacturing revenues increasing by more than 50% over the prior quarter, and
by more than 70% over the same quarter of the prior year.
"We are particularly pleased," stated Patrick W. Moore, chief executive officer,
"that even with rapidly growing revenues and record shipments in the month of
March, that our sales efforts resulted in us ending our fiscal year (March 31)
with a backlog higher than at any other time in the company's history. We expect
this revenue and sales growth to carry into our next fiscal year, which began
April 1, 2000," added Moore.
National Manufacturing Technologies Inc. (NMT) is a value-added, vertically
integrated manufacturer of enclosed electronic systems and their various
sub-assembly components supplying companies involved in aerospace, power
conversion, telecommunication, fiber channel storage, and other high growth
technologies. Complete capabilities information can be found at the company's
Web site, which is located at www.NatManTech.com.
This press release contains forward-looking statements that involve risk and
uncertainties. These statements include, without limitation, statements relating
to the company's future economic performance, management's opinions about the
ability of the company to compete successfully and other non-historical
information. The company's actual results could differ materially from those
discussed herein. Factors that could cause or contribute to such differences
include, without limitation, those risks discussed in item 6 under the heading
"additional risk factors" as well as those discussed elsewhere in the company's
annual report on Form 10-KSB.
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