Advanced Materials Sets New Sales Record.RANCHO ran·cho n. pl. ran·chos Southwestern U.S. 1. A hut or group of huts for housing ranch workers. 2. A ranch. DOMINGUEZ, Calif.--(BUSINESS WIRE)--Nov. 5, 1999-- Advanced Materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, Group Inc. (Nasdaq:ADMG ADMG Adaptive Differentiated-Service Multicast Gateway ADMG Air Defense Machine Gun ) today reported record sales for the month of October. Sales for the month exceeded the $4 million mark for the first time in Company history. Chief Executive Officer Comments on the Sales Record Commenting on the sales record, Advanced Materials Group CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President, Steve F. Scott, said: "We are very pleased to announce that ADMG sales in October set a record, breaking through the $4 million mark. The recovery from the $2.6 million monthly run rate in our third quarter confirms that the revenue impact of the one-time items reported is behind us. "We have recently announced some dramatic steps to return ADMG to profitability. We reduced headcount by 18% during the month of September and we saw positive results from that move in both our September and October results. We also announced the closure of our Portland facility to further reduce costs and bring our U.S. plant capacity in line with demand. That closure is proceeding ahead of schedule and we expect to see cost savings from the closure in our November results. "As previously announced, September was a profitable month for the Company. October profits were also strong. As a result, we expect to announce stronger-than-expected earnings for the fourth quarter. Some statements contained in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. In addition to the factors discussed, the following are among other factors that could cause actual results to differ materially: general business conditions, competitive factors, concentration of sales in markets and customers, concentration of raw materials suppliers, delays or cancellations in orders, fluctuations in margins, timing of significant orders, and other risks and uncertainties outlined by management in the Company's most recent Form 10-KSB. Advanced Materials Group is a leading manufacturer and fabricator fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: of specialty foams, foils, films and pressure-sensitive adhesive components for a broad base of customers in the computer, medical, automotive and aerospace industries both in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. |
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