CirTran Reports Third Quarter Revenue in Excess of $2.6 Million; Revenues up approximately 900% from Last Year's Q3 Numbers.SALT LAKE CITY -- CirTran Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CIRT CIRT Computer Incident Response Team CIRT Critical Incident Response Team CIRT Camara Nacional de La Industria de Radio y Television (Mexican Association of Broadcasters) CIRT Central Institute of Road Transport ), an international full-service contract manufacturer, announced it has closed the third quarter of 2004 ended September 30th with sales of approximately $2,670,000, representing over 40% increase from the second quarter of 2004 where sales were $1,924,242 and a 898% increase when compared to the same period of 2003 where sales were $267,494. As of September 30, 2004 sales are $5,273,604 resulting in an increase of over 450% when compared to year to date sales for the same period of 2003 where sales were $954,000. The company attributes the sales increase to its continued customer contract wins for its full-service contract manufacturing services in its three core divisions: electronics, cable & harness, fitness equipment and household products through its parent company and wholly-owned subsidiaries, Racore Technology Corp. and CirTran-Asia. Trevor M. Saliba, Executive Vice President of Worldwide Business Development of CirTran Corporation, commented, "We are pleased to announce yet another significant and consecutive milestone sales quarter. The company continues to prosper and build momentum for a positive close of 2004 evidenced by its record current backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. , ability to manufacture and ship product through its unique just in time delivery process and increased strength in cash-flow. We are confident of a very strong year-end close of 2004 and open of 2005." About CirTran Corporation Founded in 1993, CirTran Corporation (OTCBB:CIRT) has established itself as a premier international full-service contract manufacturer of low to mid size volume contracts for printed circuit board assemblies, cables, and harnesses to the most exacting specifications. CirTran is headquartered in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. with a state-of-the-art 40,000 sq. ft. facility. CirTran also provides "just-in-time" inventory management techniques that minimize the OEM's investment in component inventories, personnel and, related facilities, thereby reducing costs and ensuring speedy time-to-market. For further information about CirTran, please visit the Company's website located at www.cirtran.com. About Racore Technology Corporation Racore Technology Corporation was founded in 1983 and acquired by CirTran Corp. in 1997. Racore was a pioneer in the LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. arena in the 1980s, Racore helped define Token-Ring as a member of the IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.5/802.2 committees. The company was one of the first to deliver Token Ring adapters A network adapter used in a Token Ring network. See network adapter. conforming to this new standard, while offering significantly better performance and more economical prices than IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) or other suppliers of compatible products. Today, Racore Technology designs, develops, and markets high performance Local Area Network products with emphasis on Fiber Optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , Token-Ring and 10/100 Ethernet technologies to government agencies and private sector companies all over the world. CirTran Corp., Racore's parent company, manufactures all Racore products on a complete "Turn-Key" basis. For more information, please visit Racore's website at www.racore.com. About CirTran-Asia, Inc. Cirtran-Asia was formed in 2004 to serve as the "hi-volume" manufacturing arm for CirTran Corporation. CirTran-Asia's principle office is located in SHenZhen, China and its domestic presence is maintained at the company's world headquarters in Salt Lake City, UT. The company operates in three primary business segments; hi-volume electronics, fitness equipment and household products manufacturing. The company is quickly establishing itself as a leading manufacturing solutions provider to the Direct Response, a multi-billion dollar industry where products are sold through infomercials, print and internet advertisements. For more information, please visit CirTran-Asia's website at www.cirtran-asia.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and may contain 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. , with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the company's periodic filings with the Securities and Exchange Commission. |
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