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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: BigTex who wrote (6776)	9/2/1999 3:00:00 PM
From: Spark	Read Replies (1) \| Respond to of 19297

WOW!! Forward Industries Sales Triple in First Two Months of Fourth Fiscal Quarter WESTBURY, N.Y.--(BUSINESS WIRE)--Sept. 2, 1999--Forward Industries, Inc. (Nasdaq: FORD) today announced that total sales for the months of July and August 1999 were $5.5 million, more than triple the sales of $1.8 million for the same period in 1998. Jerome E. Ball, Chairman and Chief Executive Officer of Forward, stated, "We generally do not release mid-quarter sales figures, but we feel compelled to make an announcement because the change from prior periods is so extraordinary. The substantially higher sales, which are a result of increased orders from OEM customers, should translate into significantly improved levels of profitability in the fourth quarter ending September 30, 1999." Mr. Ball continued, "Based on orders in house, we expect a positive trend in sales to continue, at least for the short-term. We are also very optimistic about our long-term business prospects." For the first nine months of fiscal 1999, Forward's net sales grew 23% to $11.4 million from $9.3 million in the comparable period of last year. FORWARD INDUSTRIES, INC. designs, manufactures and distributes custom carrying case solutions primarily for cellular phones, laptop computers and home medical equipment. The Company sells its products directly to original equipment manufacturers and recently launched a line of laptop computer cases marketed under the "Terrapin" brand name through mass merchandisers, computer retailers and at www.onsale.com. Forward's products may also be viewed at www.koszegi.com and www.terrapinpc.com. Statements in this press release other than statements of historical fact are "forward-looking statements." Such statements are subject to certain risks and uncertainties, identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward-looking statements. These forward-looking statements represent the Company's judgment as of the date of the release. The Company disclaims, however, any interest or obligations to update these forward-looking statements. CONTACT: Forward Industries, Inc. Jerome E. Ball, CEO 516/338-0700 or INVESTOR RELATIONS COUNSEL Loren Goldstein 212/836-9604, lgoldstein@equityny.com Linda Latman 212/836-9609 The Equity Group Inc. www.theequitygroup.com FORWARD INDUSTRIES(NY) - FORD Price 2.00 Net Change +3/16 Volume (000) 46 Day High 2 1/16 Day Low 1 27/32 as of 09/02/99 14:53 PM EDT Only $9.99 per