DAAT - $1.20 Impressive!
DAC Technologies Announces Record Sales of $1,955,950 for Fourth Quarter of 2003 -- a 102% Increase Over Prior Year
Thursday January 8, 8:30 am ET
LITTLE ROCK, AR--(MARKET WIRE)--Jan 8, 2004 -- DAC Technologies (OTC BB: DAAT) today announced net sales for the quarter ending December 31, 2003 of $1,955,950 as compared to $969,950 for the prior year. This is an increase of $986,000, or 102%.
David A. Collins, Chairman and CEO, stated, "We are very pleased with the sales increase and look forward to this trend continuing in 2004 as we continue to introduce new products, primarily in our 'Gunmaster' gun cleaning kit line and related products. We will be introducing over 40 new items in the 'Gunmaster' line in the first and second quarters of 2004 and, in fact, have already received orders from large distributors. In addition, we have received a verbal commitment from Wal-Mart to put many of these new items into their spring/summer module."
Collins also stated, "Although the final figures are not totally complete, we anticipate pretax earnings in excess of $300,000 for the fourth quarter of 2003. The Company has a net operating loss carry-forward and therefore will not have to pay any income taxes. This equates to earnings of approximately 21 cents per share on an annualized basis."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits and security products, as well as accessory items for the sporting goods market. DAC's mission is to provide the consumer with great value in the purchase of affordable products to protect the home and workplace. In particular, firearm safety and gun violence are key issues facing the American people. It is DAC's goal to assist in the reduction of gun violence and the unintentional use of firearms by children and other unauthorized persons through the distribution and sale of its effective safety and security devices. DAC now distributes its products through mass merchandisers such as Wal Mart, Kmart, and Walgreens, sporting goods retailers and distributors, OEM gun manufacturer and others. |
