LTGL news after the bell! Record sales, still waiting for the 10 sb filing. This stock should be $1-$2 easilly with earnings on track of .15-20 c / share!
Liteglow Industries Inc. Reports Sales & Earnings for the Month & 7-Months Ended July 31, 1999
MONDAY, AUGUST 16, 1999 4:30 PM
- BusinessWire
POMPANO BEACH, Fla., Aug 16, 1999 (BUSINESS WIRE via COMTEX) -- LouWiener, COO of Liteglow Industries Inc. (Bulletin Board Symbol:LTGL), announced record sales and profits for both the month of July 1999, and for the first seven months of 1999.
Seven-month sales through July 31, 1999 showed a 91 percent increase over the comparable period in 1998.
During the month of July 1999, Liteglow reported the following results and improvements vs. July 1998.
July '99 Sales July '98 Sales July '99 Profit July '98 (Loss) -------------- -------------- --------------- ---------------
$420,885 +58% $265,705 $60,120 $(19,949) For the seven months ended July 31, 1999, the cumulative sales and earnings and improvements are as follows, in comparison with the seven months ended July 31, 1998.
1999 Sales y.t.d. 1998 Sales y.t.d. 1999 Net y.t.d. 1998 Loss y.t.d. ----------------- ----------------- --------------- ----------------
$3,094,414 +91% $1,621,658 $386,061 $(386,947) Wiener stated: "Based upon the 3,931,087 shares outstanding, Liteglow's 7-month net income represents 9.8 cents per share, which is in line with our projection of 15-20 cents per share earnings for the year! The reason for the increase in sales and profits is attributed to better products and distribution, and to tighter control of expenses." Wiener added: "Liteglow's vastly improved operating results in 1999 have also benefited the balance sheet. At 7-31-99 (unaudited): net working capital exceeded $700,000; shareholders' equity approached $1, 000,000; and the current ratio was a comfortable 1.8 to 1.0."
Liteglow's products can be found throughout the country in many leading automotive and electronics retailers. For more information or an investor information package contact Liteglow Industries Inc. at 800-801-GLOW (4569), or e-mail at spencer@liteglow.com. Fax number is 954/971-5117. Don't forget to visit our websites at: www.liteglow.com or www.lowglow.com
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