American Access (NASDAQ:AATK)
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American Access Technologies Reports Second Consecutive
Record-Breaking Quarter
Third Quarter 2004 Record Sales Increase 39.3% and Nine Month Record Sales
Increase 21.7% over Prior Periods
KEYSTONE HEIGHTS, Fla., Oct. 7 /PRNewswire-FirstCall/ -- American Access
Technologies, Inc. (NASDAQ:AATK) is pleased to announce that the preliminary
unaudited sales for the three months ended September 30, 2004 were a record-
breaking, all-time corporate high of approximately $1,922,600, an increase of
39.3% over the sales of the three months ended September 30, 2003 of
$1,379,743.
For the nine months ended September 30, 2004 preliminary unaudited sales of
$4,954,000 exceeded sales for the nine months ended September 30, 2003,
$4,069,487 by 21.7%.
Joe McGuire, Chief Financial Officer, stated, "Despite some disruptions caused
by hurricanes Charley, Frances, Ivan and Jeanne, our Company, with the
assistance of many dedicated employees, produced the best sales quarter in the
Company's history. In addition, due to the unprecedented weather conditions,
we are left in the enviable position of starting the fourth quarter with a
backlog of approximately $1 million in orders.
"The announcement of our agreement for a $750,000 private placement financing
yesterday marks the achievement of a significant goal for American Access. The
proceeds from this private placement will enable our Company to continue the
expansion of our manufacturing capabilities in 2005. We have earmarked the
proceeds of this funding to purchase laser cutting equipment that should enable
us to increase our current manufacturing efficiencies and bring in an estimated
minimum of $600,000 in new business in the initial year of operation.
"We are confident that we will easily surpass last year's all-time record sales
total of $5.5 million. We are well positioned to realize our corporate mission
to increase our revenues, control our expenses, continue our march to
profitability, increase shareholders' value and achieve our second consecutive
best year in our history," added McGuire.
For further detailed information on sales and expenses for the second quarter
2004, please read the Company's unaudited Quarterly Report (10-QSB) which will
be filed with the Securities and Exchange Commission in approximately 25 to 35
days. The preliminary second quarter sales results are subject to revision.
About American Access Technologies, Inc.
American Access manufactures patented zone cabling and wireless enclosures that
mount in ceilings, raised floors, and in custom furniture, for routing of
telecommunications cabling, fiber optics and wireless solutions to the office
desktop. The Company's concept of "zone cabling" reduces costs for initial
network installation and facilitates moves, adds, changes and upgrades for the
network installations of today and tomorrow. Its Omega Metals subsidiary
manufactures its proprietary products, and also employs state-of-the-art metal
fabrication and finishing techniques for public and private companies and for
the U.S. government contractors.
News and product/service information are available at http://www.aatk.com/.
Cautionary Note Concerning Forward-Looking Statements: This press release
contains forward-looking statements as defined in Section 27A of the Securities
Exchange Act of 1934, regarding future revenues. While the Company believes
that such forward-looking statements are based on reasonable assumptions, there
can be no assurance that such future revenues will be achieved or achieved on
the schedule indicated. Furthermore, unanticipated future events, conditions
and financial trends may affect the Company's revenues, operating results and
financial position. Prospective investors are cautioned that these
forward-looking statements are not guarantees of future performance. Actual
events or results may differ from the Company's expectations, and are subject
to various risks and uncertainties, including those listed in the Company's SEC
filings. The Company assumes no obligation to publicly update or revise its
forward-looking statements even if experience or future events make it clear
that any of the projected results expressed or implied therein will not be
realized.
Company Contact: Joe McGuire, Chief Financial Officer
(352) 473-6673/
DATASOURCE: American Access Technologies, Inc.
CONTACT: Joe McGuire, Chief Financial Officer, American Access,
+1-352-473-6673, or
Web site: http://www.aatk.com/