posted
American Commerce Solutions, Inc. Releases Preliminary 1st Quarter Results For IMW Friday June 17, 10:30 am ET
BARTOW, Fla., June 17 /PRNewswire-FirstCall/ -- American Commerce Solutions, Inc. (OTC Bulletin Board: AACS - News) today released preliminary results of first quarter operations for its wholly owned subsidiary, IMW, revealing a continued trend of improvement over same quarter prior year results.
ADVERTISEMENT Daniel L. Hefner, President and Chief Executive Officer of American Commerce Solutions, Inc., stated, "Pending review, we are pleased to announce that our first quarter ending May 31, 2005 will again reflect improvement in all key financial categories."
Hefner continued, "Quarterly results continue to improve over prior year operations. According to company books and records, IMW financial statements will show a 4% increase in revenue over 2004 first quarter sales. More exciting is the 15.4% increase in gross profit, indicating tighter controls and higher margin business. Net losses were reduced by approximately 3% from the same quarter in 2004."
Reviewed first quarter results are scheduled to be released on or before July 15, 2005 on Form 10QSB and may deviate slightly from the above comparisons, according to Hefner.
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :)
IP: Logged |
should get that and then some! The high volume today with 30% increase should be an indicator that big things will come! Once people start analyzing the chart, they will see it is the beginning of a breakout!
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :)
IP: Logged |
posted
American Commerce Solutions, Inc. Subsidiary IMW Progresses on Nuclear Project Monday June 20, 3:30 pm ET
BARTOW, Fla., June 20 /PRNewswire-FirstCall/ -- American Commerce Solutions, Inc.'s (OTC Bulletin Board: AACS - News) wholly owned subsidiary, International Machine and Welding, Inc., today issued an update for its nuclear power industry contract, awarded last month.
ADVERTISEMENT ACS President and Chief Executive Officer Daniel L. Hefner reported in May that IMW had once again been awarded a contract to machine components used in the nuclear power industry. Upon the completion of this job, this industry segment will have provided IMW with purchase orders in excess of $250,000. It was noted that IMW was awarded these opportunities because of their excellent and timely performance last year for the same client.
Hefner commented, "IMW was awarded these contracts as a subcontract from Dixie-Southern Constructors, Inc. of Durette, Florida, the primary contractor for a Florida utility. The current application is construction of a shipping container for a spent nuclear reactor. The first portion of this job has been completed and the remainder is in progress. This industry segment is providing lucrative opportunities for IMW. Growth opportunities in this area are excellent, based upon our past successful and timely performance, according to Dixie-Southern President Gary Claville.
According to Hefner, expectations are high for IMW in this second quarter of operations. IMW has continued to show steady growth quarter after quarter as reflected in last fiscal year's thirty-plus per cent increase in revenue, followed by a four per cent increase in the first quarter over the same periods in the prior year.
Details of the International Machine and Welding, Inc. subsidiary may be seen at the corporate website http://www.aacssymbol.com .
Chariot Manufacturing Company, Inc., http://www.chariot-trailer.com , is also a wholly owned subsidiary of American Commerce Solutions, Inc.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :)
IP: Logged |
posted
yes that news goes to support the growing overall value to acs- and this is just one of their subsidiaries. This subsidiary IMH was even slowed by the hurrican season last year but in recent quarters still showed nice overall growth. Completing this job will only bring more for IMW. All this and ACS still has other subsidiary Chariot Manufacturing and an increasing interest in American Fiber Green Products... with the breakout of this channel just starting i will be building in a nice swing position for this play. Been following for awhile and with the break out conferemed i'm looking to make this one a nice swing trader.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
