Wellco (AMEX:WLC)
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From May 2019 to May 2024
Wellco Enterprises, Inc., (AMEX:WLC) today announced
that the Department of Defense has exercised the second option to
supply the U.S. military with the development of a Modular Boot
System. In December 2005, Wellco was one of two contract awardees for
the development of the US Army Modular Boot System. Presently, the
Department of Defense buys four different boot styles to meet the
varied climatic conditions encountered by military personnel. The
contract's goal is to develop a functional boot system to provide
comfort in a temperature range of -60(degree)F to 120(degree)F. If
successful, the new Modular Boot System would replace many of the
current boot styles.
The Department of Defense has exercised the second option under
this contract and issued an order for 450 pairs of the Modular Boot
System for expanded testing. In March 2006, Wellco shipped 580 pairs
under the first option and testing was favorable. If the Wellco
Modular Boot System is successful through all phases of development
and testing, the contract provides for Wellco to manufacture 160,000
pairs of this boot for issuance to military personnel.
In addition, under an existing contract to supply Hot Weather
boots to the Department of Defense, Wellco received a delivery order
in the amount of $1,443,000. Work will be performed at Wellco's plant
in Waynesville, North Carolina and it's plant Moka Shoe Corporation in
Aguadilla, Puerto Rico.
Lee Ferguson, President and Chief Executive Officer stated, "We
are very pleased to have received this next option for the Modular
Boot System and new delivery order for Hot Weather boots. We stand
proud in being able to support the needs of our troops at home and
abroad."
Wellco Enterprises, Inc. specializes in the manufacture and
development of military footwear and derives the majority of its
revenues from the sale of military and tactical boots. Wellco is
committed to providing high performance footwear and excellent service
to the U.S. military and all its customers.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING INFORMATION
Statements throughout this report that are not historical facts
are forward-looking statements. These statements are based on current
expectations and beliefs, and involve numerous risks and
uncertainties. Many factors could affect the Company's actual results,
causing results to differ materially from those expressed in any such
forward-looking information.
These factors include, but are not limited to, the receipt of
contracts from the U. S. government and the performance thereunder;
the ability to control costs under fixed price contracts; the
cancellation of contracts; and other risks detailed from time to time
in the Company's Securities and Exchange Commission filings, including
Form 10-K for the year ended July 2, 2005. Those statements include,
but may not be limited to, all statements regarding intent, beliefs,
expectations, projections, forecasts, and plans of the Company and its
management. Actual results may differ materially from management
expectations. The Company assumes no obligation to update any
forward-looking statements.