American Commerce Solutions, Inc. Reports Year End Results
Monday May 12, 6:30 am ET
BARTOW, FL--(MARKET WIRE)--May 12, 2008 -- American Commerce Solutions, Inc. (OTC BB:AACS.OB - News) together with wholly owned subsidiaries, International Machine and Welding, Inc. and Chariot Manufacturing Company, today released preliminary results of operations for the year ending February 29, 2008.
Daniel L. Hefner, President and Chief Executive Officer of American Commerce Solutions, Inc., stated, "Based upon the company's consolidated books and records, which are currently being audited, we are pleased to announce that ACS will report a 21% increase in revenue over last year. Net sales totaled $2,850,768 compared to $2,351,288 for the same period last year. Gross profit increased by 44.6% in year over year results, while the net loss for all operations was reduced by 28.6%."
Hefner continued, "We are encouraged by the progress that these numbers reflect and are looking forward to the opportunities of the new fiscal year that started on March 1st. This will be a year of change within the company as we seek out new, more profitable earning opportunities while continuing to build on our current customer base and operations. This year we anticipate that Chariot Manufacturing Company will begin to reach its potential and increase revenues the way that International Machine and Welding, Inc. did over the last year. We will continue to be challenged by economic conditions, but we are confident that our management will meet the challenge."
American Commerce Solutions, Inc. maintains a Strategic Partnership with American Fiber Green Products, Inc., www.americanfibergreenproducts.com (OTC BB:AFBG.OB - News). AFBG began public trading on May 2, 2008.
American Commerce Solutions, Inc. is a multi-industry holding company. ACS currently has wholly owned subsidiaries International Machine and Welding, Inc. and Chariot Manufacturing Company, Inc. which includes Chariot Trailers and the AFG job shop. The ACS website, www.aacssymbol.com highlights the IMW operation and links to the Chariot website, www.chariot-trailer.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements, including but not limited to, certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
Contact:
For company updates and information, as well as investment opportunity,
please contact:
Mackey McFarlane
Financial Advisor
Aegis Capital Corp.
212-813-1010 Office
mmcfarlane@aegiscap.com |
