Veltex announces five week trade shows in Florida – expect more potential new customers
19 May '05
4 min read
Veltex Apparel is well positioned to gain market share from the over 4,000 distributors of promotional products in Canada which represents over a $1 billion marketing industry.
Javeed Matin, CEO of Veltex Corporation, stated, "We are proud of our strong growth progress and clearly feel that 2005 will be another year of record profitability. Veltex is providing high quality apparel and accessories in a timely manner to an ever-growing list of clients and customers. We expect that our recent entry into the Canadian Marketplace will be very positive to our overall revenue growth. Furthermore, we are looking forward to making a major acquisition shortly that will give us an even stronger foothold in our target markets."
Veltex has a strong management team, with a strong vertical infrastructure in place and we expect to generate revenues in excess of $55 million in 2005 with net profits of over $11 million. Veltex Corporation clearly has enormous growth appreciation potential based on its realistic revenues and net profits projections. Veltex has shown consistent sales growth since 2001".
- Revenue Forecast (millions):
- 2001: $8.7mm
- 2002: $13.9mm
- 2003: $15.0mm
- 2004: $41.6mm (actual)
- 2005 Projected Revenue $55mm
- 2005 Projected Profit $11mm
- 2005 Projected Net Earnings $1.38 per share a 35% increase from 2004
We are disappointed by the delay in the completion of our 2004 audit. We had been previf our 2004 audit. We had been previously advised by our auditor to expect the 2004 document by end of Q'2, 2005 and as Veltex Corporation has informed its shareholders of the delay and we have endeavored to inform the investing public of the same unfortunate delay in our press release. Subsequently to the original date of Q'2, 2005, the auditors have informed us that due to a backlog in their office regarding previous commitments they would not complete the audit for several additional months. Veltex is hopeful it will be completed by early summer before the end of Q'3, 2005.
marketing@alchempro.com
