CirTran ‘On Plan and Well Positioned’ Entering ’07 says President/CEO Hawatmeh
SALT LAKE CITY, January 9, 2007 – Iehab J. Hawatmeh, founder, president and CEO of CirTran Corporation (OTCBB: CIRT), an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that our international company is “on plan and well positioned” to continue to implement its strategic plan in 2007.
“While CirTran did not accomplish all its goals in 2006,” Mr. Hawatmeh said, “we put ourselves in position to move forward in the New Year.” CirTran enters 2007 with its group of companies including CirTran-USA, CirTran-Asia, CirTran Products, and Diverse Media Group.
“Our continued expansion into high volume off-shore manufacturing for the direct response industry was a highlight of last year’s growth,” he said, noting that CirTran has signed exclusive new contracts valued in excess of $12 million during the year.
CirTran, he said, “also made significant inroads with major retailers,” including Wal-Mart, and opened a sales office in Bentonville, Arkansas, during 2006.
“Now with the capabilities added last year through our Diverse Media Group, which combines a talent agency with skilled professionals who write and produce infomercials, combined with CirTran-Asia, and its proven track record in design and manufacturing consumer goods, we are unique. Only CirTran can offer a complete one-stop shop for companies wanting to use the direct response channel to market products in the U.S. or anywhere else in the world,” Mr. Hawatmeh said.
In the U.S., Mr. Hawatmeh said that CirTran has continued to grow its customer list and the volume of business at its Salt Lake City facility. Currently, CirTran-USA serves clients including Flextronics (NASDAQ: FLEX), KLA-Tencor (NASDAQ: KALC), Nortel Canada (NYSE: NT), Auto Meter and DynoJet. Of particular interest in 2007, he said, would be production of the next generation SafetyNet™ RadioBridge™ that CirTran redesigned on behalf of Aegis Assessments, Inc. (OTC BB: AGSI), a Scottsdale, Arizona-based homeland security contractor.
Operations in Asia Growing
“Our Asian operations were growing as well. We continue to move forward, serving new customers and adding new products,” he said. Mr. Hawatmeh said that fitness equipment, consumer electronic products and beauty products are among the 10 programs now in place, and that “American born, trained and educated professionals are now working with English/Chinese trained staff in our ShenZhen office and multiple China factories.”
Financial Progress Reflects Growth
Mr. Hawatmeh said that CirTran’s financial progress was reflecting its growth in the U.S. and overseas, and that the company “continues to aim for our shares to be traded on the American Stock Exchange. This was a goal for 2006 that was not achieved,” he said, “and it is very much on our minds and in our efforts adding the New Year.
He said CirTran, which reported net sales of $3.0 million, a 37% improvement compared to the $2.2 million reported for the previous quarter ended June 30, 2006, is working to continue and accelerate its growth.
“We have had three consecutive quarters of sales growth for CirTran in 2006,” he said, “and we are working to continue and extend our progress.”
Mr. Hawatmeh also said that “all systems are go” on the production and infomercial introducing the Evander Holyfield Real Deal Grill™, with further news coming shortly.
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.
All trademarks are properties of their respective owners .