CirTran Cites New Consumer Manufacturing Business for 'Dramatic Increases' in Q4 and 2004 Year-End Results Friday January 14, 8:30 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Jan. 14, 2005--CirTran Corp. (OTCBB: CIRT - News), an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that it will report dramatic increases in its fourth quarter and year-end results for fiscal 2004 when it files a 10-KSB with the SEC. Iehab J. Hawatmeh, CirTran's founder, president and CEO, said the company plans to report sales of $3,640,225 for the quarter ended Dec. 31, 2004, as compared to $261,215 for the same period in 2003, an increase of 1,395%. Hawatmeh said for the year ending Dec. 31, 2004, CirTran plans to report sales of $8,870,599, as compared to $1,215,245 for 2003, an increase of 730%.
Hawatmeh said the fourth quarter and fiscal 2004 "were, by far, the most exciting period in CirTran's history as a public company as we established new highs in sales."
Asian Strategy Paying Off
In mid-2004, CirTran created CirTran-Asia as a wholly owned subsidiary based in ShenZhen, China, to focus on manufacturing high-volume consumer and consumer electronics products, such as those advertised on TV and in infomercials.
"Our Asian strategy is paying off," said Trevor M. Saliba, executive vice president for worldwide business development of both the parent and subsidiary companies. "In the second half of fiscal 2004, some two-thirds of revenues came from CirTran-Asia, while we also saw growth in our core IT manufacturing business in the U.S."
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