CirTran Projects First Profitable Year for Fiscal 2005, with Worldwide Sales Growing Nearly 1,000% in Two Years
Mar 01, 2006
CirTran Corp. an international full-service contract manufacturer of IT, consumer and consumer electronics products, said today that it projects that it will report its first-ever annual profit when it files Form 10-KSB for fiscal 2005 with the Securities and Exchanges Commission next month.
Iehab J. Hawatmeh, CirTran's founder and president, said the fourth quarter of fiscal 2005 "marked the seventh straight quarter of improvement or growth for the company, capping off the best year for CirTran since it became a public company in 2000."
He said that with "auditors still finalizing results," CirTran expects to show a profit for the fiscal year as compared to a loss of $658,322 for fiscal 2004. Hawatmeh also said that CirTran expects to report revenues of approximately $13 million, more than 45% better than the $8,862,715 reported for fiscal 2004."
"In 2004," Hawatmeh said, "our plan began to take hold as CirTran started manufacturing operations in China, developing and building products for the direct response/sold-on-TV marketplace, to complement our core IT and specialty manufacturing business in the U.S. And in 2005, we continued to move forward, retaining existing business and winning new manufacturing contracts at a record pace, with our sales up nearly 1,000% in just two years.