Apparel merchandiser Veltex Corporation has reported record 2005 un-audited revenue of $68,605,631 for 2005, an increase of more than 27 million dollars over 2004. This figure includes fourth quarter revenue of $22,908,243.
The net pre-tax income for 2005 was $10,388,857, or .97 a share for the 10,732,087 shares outstanding as of December 31st 2005. This is an increase of more than 6 million dollars over 2004. Three Hundred Thirty Thousand shares of common stock have been repurchased in conjunction with our authorized buyback program.
Veltex Corporation has entered the final stages of negotiation regarding a major retail acquisition.
Javeed Matin, CEO of Veltex Corporation said, "We are pleased to announce record breaking profits in 2005 and we eagerly look forward to 2006 with an invigorated sense of optimism as our business continues to grow at record rates.”
He continued, "We are very close to finalizing an agreement to acquire a major retail supply company with more than sixteen nationally-recognizable clients. Details will be forthcoming in the very near future and will be released as soon as the agreement is complete. We maintain our dedication to increasing shareholder value and look forward to announcing further progress in this regard in the near future.”
“Veltex-Explorer is setting sales records and we have seen wide acceptance of our new winter product line. KCA Garment and Velvet Textile Mills continue producing at record rates and with ever increasing efficiency. We are actively seeking expanded markets by preparing submissions to major chains and wholesale clubs. While we continue to remain alert for advantageous opportunities to grow our markets we remain committed to our core business and are as determined as ever to make it even more efficient and therefore more profitable," he concluded.
marketing@alchempro.com
