SLS International Announces Record Second Quarter Revenue
Revenue Increases 75.6% Versus Year-Earlier Period; Backlog of $539,571 is Highest in Company's History
PR9.NET July 19, 2005 - SPRINGFIELD, Mo., - SLS International (OTCBB: SITI) announced today that it expects to report second quarter revenue, for the period ended June 30, 2005, of $887,155, the highest in the company's history and a 75.6% increase from the same period in 2004. For the six months ended June 30, 2005, the Company expects to report revenue of $1,756,724, an increase of 89.7% versus the first six months of fiscal 2004. At the end of the second quarter, the company had a backlog of $539,571 in orders to be shipped, the highest in its history.
"While we are pleased that we were able to report another record quarter of sales, we are most excited about the opportunities for growth during the second half of our fiscal year," said John Gott, SLS International's Chief Executive Officer. "Our recently introduced Cinema Series has generated a great deal of interest, and we expect to sell our speakers for many new projects. In addition, due to delays in construction at the Trump Grande Ocean Resort & Residences, an oceanfront condominium project, located in Sunny Isles Beach, Florida, we expect many of the orders to occur during the third and fourth quarters. We also believe that many of the new distributors we signed in Germany and the Caribbean will enhance international sales. In addition, we have entered into agreements with representative firms across the U.S. to give us even greater geographic penetration. Our agreement with Mark Burnett should enable us to raise our profile significantly, through exposure on such national television shows such as 'Rock Star: INXS'. Finally, we are actively preparing for the launch of our products this Fall in one of the largest retailers in the world. Our new, state-of-the-art facility gives us the ability to efficiently support these initiatives."
Some highlights of the second quarter included:
* Agreement with Mark Burnett Productions.
* New corporate headquarters.
* Agreement with leading German distributor.
* Enhanced distribution capabilities.
* Expansion of Management team.
The Company expects to file its 10-Q for the period ended June 30, 2005 during mid-August.
Matters discussed in this press release contain forward-looking Statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.
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