CirTran Projects First Quarter Sales Growth of Over 110%
SALT LAKE CITY, April 19, 2006– CirTran Corporation (OTC BB: CIRT), an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that it projects reporting an increase of 114% in sales when it files its 10-QSB for the first quarter of fiscal 2007 next month.
CirTran Founder, President and CEO Iehab J. Hawatmeh said the company anticipates reporting sales of approximately $3.7 million for the quarter ended March 31, 2007, an increase of approximately $2 million, or 114%, over the $1,737,824 reported for the same period in fiscal 2006.
Mr. Hawatmeh said that the “strong sales during the first quarter” represented similar increases over the $1,732,090 reported for the fourth quarter of fiscal 2006 ended December 31.
“We continue to see evidence that business for CirTran is on the rise, and see indications that the road ahead is an exciting one for CirTran and our subsidiary companies,” Mr. Hawatmeh said. He said that the company, which slumped last year when its biggest customer -- Advanced Beauty Solutions LLC -- filed bankruptcy, has taken “an aggressive posture and is forging ahead on several fronts, including working to recover approximately $2.5 million in sales that went away with ABS.
“In the first quarter,” he said, “CirTran has been successful in our efforts to directly marketing products previously sold by ABS, and is now ready to launch a series of new products and marketing programs, including the introduction of The Real Deal Grill™ endorsed by four-time former world heavyweight boxing champion Evander Holyfield.”
About CirTran Corporation
Founded in 1993, CirTran Corporation (OTC BB: CIRT, www.CirTran.com ) is a premier international full-service contract manufacturer. Headquartered in Salt Lake City, its ISO 9001:2000-certified, non-captive 40,000-square-foot manufacturing facility is the largest in the Intermountain Region, providing "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities while reducing costs and ensuring speedy time-to-market. In 1998, CirTran acquired Racore Technology ( www.racore.com ), founded in 1983 and reorganized as Racore Technology Corporation in 1997. Continuing to grow, in 2004 CirTran formed CirTran-Asia as a high-volume manufacturing arm and wholly owned subsidiary with its principal office in ShenZhen , China . Today, CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment, and household products manufacturing, focusing on the multi-billion-dollar direct response industry.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. The Company disclaims any obligation or intention to update any forward-looking statements.
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