American Access (NASDAQ:AATK)
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American Access Technologies Updates Interim Sales for Quarter
Ending June 30, 2004
Announces Annual Meeting of Stockholders
KEYSTONE HEIGHTS, Fla., June 3 /PRNewswire-FirstCall/ -- American Access
Technologies, Inc. (NASDAQ:AATK) announced today that preliminary unaudited
sales for the period April 1, 2004, through May 31, 2004, the first two months
of its current fiscal quarter, were approximately $1.2 million. Our entire
product line, zone and wireless telecommunications networking enclosures and
formed metal products continue to contribute to the sales effort.
The Company is also pleased to announce that it continues as subcontractor for
the production of specialized chemical warfare alarms for the armed forces.
American Access manufactures the housing for the device, which is about twice
the size of a military issue canteen. The current order for this product will
generate approximately $140,000 in sales in 2004 and is one of many government
sub-contracts American Access Technologies, Inc. has fulfilled over the years.
Joe McGuire, Chief Financial Officer, commented, "As a matter of perspective on
today's interim sales report, historically, the Company's three best sales
quarters produced one quarter with sales in excess of $1.64 million, and two
quarters with sales in excess of $1.51 and $1.50 million, respectively. We are
well-positioned to realize our mission to increase our revenues, control our
expenses, continue our march to profitability, increase shareholder value and
to achieve our best year in our history. It should be noted that because of
the long sales cycle for many of our products, one month or one quarter's
results are not a reliable indicator of the future. I believe we have only
begun to demonstrate our potential to the marketplace. We are excited about the
future and expect to continue our path of growth and development. We are also
proud of our efforts to help protect our troops and the confidence in our
manufacturing abilities represented by our association with the alarm unit
since the first order in 2000."
The Company will hold its annual meeting of stockholders on July 23, 2004. The
record date for the meeting is May 28, 2004. The Company will send a definitive
proxy statement and annual report to stockholders, which will contain important
information about the meeting. Stockholders are urged to read and vote the
proxy statement when it becomes available.
In other corporate matters, in accordance with Nasdaq Marketplace Rule 4350, as
amended October 14, 2003, inducement stock options were granted to Andrew
Camarda who has agreed to join the Company. Mr. Camarda is the Project Manager
for the engineering and development aspects of our zone and wireless products
and supports our sales staff and customers. The Company issued 20,000 stock
options to Mr. Camarda in connection with the initiation of employment with the
Company. These options were granted without stockholder approval pursuant to
Nasdaq Marketplace Rule 4350 (i)(1)(A)(iv).
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
U.S. government contractors.
News and product/service information are available at http://www.aatk.com/.
Forward-looking statements
Note: This press release for American Access Technologies, Inc. contains
forward-looking statements as defined in Section 27A of the Securities Exchange
Act of 1934, regarding events, conditions and financial trends that may affect
the Company's future operating results and financial position. Prospective
investors are cautioned that forward-looking statements are not guarantees of
future performance. Actual events or results may differ from the Company's
expectations, which are subject to various risks and uncertainties listed in
the Company's SEC filings. The forward-looking statements made herein are based
on information presently available to the management of the company. The
company assumes no obligation to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that any
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
Technologies, +1-352-473-6673, or
Web site: http://www.aatk.com/