TEXN - from 3/13/98 news, I found 13 cents profit is only a projection based on actual order of 166,209 units of product which received in the first two months of 1998. So, I think, sales in 1998 could be higher than $6,000,000. For me, it means higher on profit.
Good luck.
MM
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Company Press Release
21st Century Technologies Has Record Orders in First Two Months of 1998 for PT Night Sights
FORT WORTH, Texas--(BUSINESS WIRE)--March 13, 1998--21st Century Technologies Inc. (OTC/BB:TEXN - news) 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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