TLST
Telesis Technology Corporation Reports Record Revenues For Year End 2005
PALMETTO, Fla., Apr 04, 2006 (BUSINESS WIRE) -- Telesis Technology Corporation (OTC:TLST) today announced record results for the year ended December 31, 2005.
Record sales revenue for the year ended on December 31, 2005 was $2,607,616 compared with $1,521,903 for the same period ended a year earlier in 2004. This was an increase of 72% in Revenues. Gross income from continuing operations for the year ended December 31, 2005 was $401,533 compared with $518,876 for the same period in 2004. There was a slight decrease in gross profit due to higher indirect labor and professional costs. Telesis Technology Corporation reported a positive net income after tax for the year ended December 31, 2005 of $22,611. Once again, we concluded 2005 with positive numbers and continued growth.
Total Assets for the twelve months ended on December 31, 2005 were reported at $1,684,822 compared to $1,391,573 for the same period in 2004. This was an increase of 21%. Total Liabilities for the twelve months ended December 31, 2005 were $278,767 compared to $471,690 which is a decrease of 70%.
"Telesis reported good growth for our revenues and once again posted positive net income," said Mr. Hasit Vibhakar, Chairman, CEO & President of Telesis Technology Corporation. "We generated positive cash flow while growing our assets and decreasing our overall debt. Shareholder's equity has increased to $1,406,055 from $919,883 a year ago. We maintained stable gross profit margins across all divisions at 16% on strong demand and acceptance of our products and services," stated Mr. Vibhakar.
About Telesis Technology Corporation
Telesis Technology Corporation is a diversified Aerospace and Defense Contractor. Telesis Technology Corporation has several operating divisions with main locations in Nebraska and Florida. Company information can be obtained at telesistechnology.com
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation & Reform Act of 1995. In this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties. |
