XLPI news revenues up:(InternetWire) XcelPlus Exceeds Revenue Goal for 2nd Quarter of 2006
SALUDA, VA -- (MARKET WIRE) -- 08/01/06 -- XcelPlus International Inc. (PINKSHE
TS: XLPI),
a manufacturing and marketing company specializing in alternative fuel
technologies, today announced 2nd quarter revenues for FY 2006.
Revenues for the 2nd quarter, which closed on June 30th, 2006, increased to
$300K, a significant increase over revenues for the previous quarter.
According to Mr. Kevin Whited, Sales Director for XcelPlus, the increase is
due primarily to marketing efforts focused on the Flextek conversion kit.
The Flextek is a kit that converts gasoline fueled vehicles into flex-fuel
vehicles capable of running on E85 ethanol, gasoline, or any blend of the 2
fuels.
"We see these revenues as a very positive sign and we fully expect the
positive results seen in our 2nd quarter to continue throughout our 3rd and
4th quarters," said Mr. Bill R. Smith, President of XcelPlus. "During our
shareholder conference call we announced a 2nd quarter revenue goal of
$250K. Exceeding that goal gives us confidence that we will meet or exceed
our 3rd quarter goal of $1 million in revenue. Our print and radio
advertising campaign has only just begun and we will be airing television
broadcast commercials in the near future.
"We are also increasing our lobbying efforts, as public and political
acceptance of E85 helps expand our markets. Just yesterday Governor George
Pataki of New York signed legislation designed to make it easier for New
York service station owners to offer E85 ethanol to their customers, and we
fully expect other states to follow suit and make E85 readily available to
consumers."
Governor Pataki signed Senate bill 8124/Assembly bill 11,868 into law at a
service station owned by a dealer who expects to have an E85 pump installed
before Thanksgiving. The signing of the New York bill comes just one week
after Minnesota Gov. Tim Pawlenty's endorsement of the Flextek conversion
system and E85 ethanol.
About XcelPlus International:
XcelPlus International Inc. manufactures and markets E85 Conversion
Systems, Ethanol Fuel Products, and Specialty Chemicals which enable the
growth of the ethanol market, while providing consumers with a viable means
of using newly developed clean energy technologies.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Except for historical information, the forward-looking matters
discussed in this news release are subject to certain risks and
uncertainties which could cause the Company's actual results and financial
condition to differ materially from those anticipated by the
forward-looking statements including, but not limited to, the Company's
liquidity and the ability to obtain financing, the timing of regulatory
approvals, uncertainties related to corporate partners or third-parties,
product liability, the dependence on third parties for manufacturing and
marketing, patent risk, copyright risk, competition, and the early stage of
products being marketed or under development, as well as other risks
indicated from time to time in the Company's filings with the Securities
and Exchange Commission. The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events.
Contact:
For investor relations contact:
Brad Novak
Email: bnovak@xcelplus.com
Phone: 949-661-5780
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