Monday October 20 9:00 AM EDT
Company Press Release
Liteglow Industries Announces Record Sales & Earnings for 3rd Quarter
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Oct. 20, 1997--Liteglow Industries Inc. (BB:LTGL) announced Monday record sales and earnings for the quarter ended Sept. 30, 1997.
The unaudited nine month numbers for 1997 vs. 1996 showed a 38.5% increase in sales and a 90+% increase in gross profit over 1996! Net income increased $97,653.00 over 1996.
9/30/96 9/30/97
Sales $1,462,488.00 $2,026,931.00
Gross Profit 511,870.00 915,416.00
Net Income 1,390.00 99,043.00
Liteglow President, Spencer Krumholz stated: ''Our company is continuing to perform ahead of budget and projections. With the recent acquisition of LowGlow Neon and our further product expansion plans we are looking forward to consolidating our infrastructure and expand the company's over 2,000 customer account base. Hence, positioning Liteglow for our projected growth in Sales and Earnings in 1998.''
Liteglow is a manufacturer, designer, and importer of products for the automotive aftermarket. The U.S. auto aftermarket reached $170.55 BILLION in revenues in 1994, and is estimated to grow at 3%-5% annually over the next three years.
Requests for an investor information package should be made by calling Liteglow Industries Inc. at 1-800-801-GLOW, or e-mail at Spencer@liteglow.com. You can also visit Liteglow at www.liteglow.com. |
