Veltex Corporation net revenues rise 30% in Q1 2005
16 May '05
3 min read
us based a vertical manufacturer, importer and distributor of apparel & accessory company veltex corporation announces consolidated financial results for the first quarter ending march 31, 2005.
veltex corporation first quarter consolidated revenues totaled a record $13,270,345, while net profit was $1,739,537 or 22 cents per share. this first quarter of 2005 was an increase in gross revenue of over 30% compared to the same time last year with gross revenue of (approx) $10,249,000, or about 17 cents per share in the previous year of q'1, 2004.
finn walstad, ceo of otcgrowth.com, commented, "i am very pleased with the first quarter results and feel confident that veltex will reach its projected goal of $55 million in sales for this year, up from about $41 million in 2004. frankly, we believe that the stock, currently trading around $1.00, is extremely undervalued at this time, based on its strong fundamentals. in my opinion, this is a well-managed, quality company that has major appreciation potential."
veltex corporation clearly has enormous appreciation potential based on its realistic revenues and net profits projections. it is very rare to discover a company whose stock is so undervalued and yet has everything in place for a dynamic near-term upward move to significantly higher prices. veltex is a well managed company, with a strong vertical infrastructure in place that expects to generate revenues in excess of $55 million in 2005 with net profits of over $11 million or approximately $1.38+/- net earnings per share (eps), a 35% increase from 2004.
marketing@alchempro.com
