READ ALL:TEXN
21st Century Technologies Has Record
Orders in First Two Months of 1998
for PT Night Sights
Business Wire - March 13, 1998 14:23
%21ST-CENTURY-TECH TEXN %TEXAS %RETAIL V%BW P%BW
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FORT WORTH, Texas--(BUSINESS WIRE)--March 13,
1998--21st Century Technologies Inc. (OTC/BB:TEXN)
Friday announced that in the first two months of 1998, it had
already received orders for 166,209 PT Night Sights valued at $6
million.
Sold through its wholly owned subsidiary Innovative Weaponry
Inc. (IWI), the night sights have steadily grown in popularity with
law enforcement since their introduction in 1986.
Pat Wilson, CEO of TEXN, stated: "We have found that our
3-dot multicolor night sight is superior in low-light or no-light
situations. Law enforcement prefers our night sights over the
competition's single-color format. We are American-owned, and
the night sights are made right here in Texas. We're proud of what
we have accomplished in the last two years."
Licensed by the Nuclear Regulatory Commission to import
"tritium," a radioactive isotope that glows, Wilson is the company's
nuclear regulatory safety officer, as well as its CEO.
TEXN is currently trading at 18 cents per share, with 19 million
shares outstanding. The market capitalization of TEXN is
$8,120,000. Daily trading volume averages 80,000 shares per
day. With only 9 million shares in the float, the value of TEXN
shares has risen in the last nine months from 4 cents a share to a
high of 20 cents a share.
At Friday's price, TEXN shares have increased more than 400
percent. "We anticipate pretax profits in 1998 to exceed
$2,499,783, based upon the sale of 166,209 units, with earnings
projected at 13 cents per share," stated Wilson.
Sales momentum in the PT Night Sights has grown following the
February 1998 Shot Show in Las Vegas. TEXN sells directly to
law enforcement agencies and provides manufacturing to OEMs in
the United States and abroad.
Financial statements in this news release other than historical facts
are "forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private
Securities Litigation Reform Act of 1995. The company intends
that such statements about its future expectations, including future
revenues and earnings, and all other forward-looking statements
(i.e., future operational results and sales), involve risks and
uncertainties and are subject to change at any time. The company's
actual results could differ materially from expected results.
Pro Forma Actual Actual
1998 1997 1996
Gross revenue, 12 months $6,000,000 $1,200,000 $ 247,735
12-month earnings $2,499,783 $ 57,143 $ (458,117)
Weighted average shares 19,000,000 14,500,000 12,500,000
12-month earnings per share $ 0.13 $ (0.004) $ (.037)
NOTE: The 1997 and 1996 figures are based on the company's tax
returns, but are not audited. Pro forma figures are based on actual
orders placed with the company, as well as commitments for orders
from 16 law enforcement and military customers for delivery in
fiscal year 1998.
CONTACT: 21st Century Technologies Inc.
Pat Wilson, 800/334-3573
or
Princeton Research of Nevada Inc.
John Dolkart, 702/251-7163
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