RE: ADVC - nice volume again today & newsotcstockexchange.com: ADVC - OTCStockExchange.com Stock Alert
Rochester, NY, Mar 01, 2006 (M2 PRESSWIRE via COMTEX) --
OTCStockExchange.com's "Stock Watch Alert" to watch this morning; Advanced Communications Technologies, Inc. (OTCBB: ADVC)
Advanced Communications Technologies, Inc. (OTCBB: ADVC - https://finance.yahoo.com/q?s=ADVC.OB ) Advanced Communications Technologies, Inc., a New York-based holding company that specializes in the technology aftermarket service and supply chain known as reverse logistics, announced that its wholly-owned operating unit, Encompass Group Affiliates, Inc., expects to generate $10 million in revenue for fiscal 2006, a 33% increase as compared with $7,522,000 for fiscal 2005.
Encompass' subsidiary Cyber-Test, a Florida-based electronic equipment repair company, is a significant contributor to the substantial revenue projections, with one record breaking month after another over the company's past fiscal year including January, it's highest sales month yet. Cyber-Test reported $900,000 in revenue for January, compared with $676,000 for the same month in 2005, or a 33% increase. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the month was an impressive $101,000 or 11% of sales, compared to EBITDA of $42,000 or 6% of sales in January 2005.
Wayne Danson, president and chief executive officer of Advanced Communications, said, "We are having a very full and productive year with expectations of $10 million in revenue for fiscal 2006. Cyber-Test generated $900,000 in sales last month and continues to show enormous growth potential. Its management team continuously demonstrates its ability to adapt to the ever changing consumer and office electronic technologies without sacrificing its reputation for professionalism and service excellence, a key element in our business strategy." Danson added, "As we previously shared, we have been working on various transactions that will significantly expand our business and we will disclose all details once we are permitted under SEC regulations."
Lisa Welton, president of Cyber-Test, said, "Our fiscal year-to-date sales are already in excess of $5.3 million." Welton explained, "We generated $900,000 in sales last month, making January by far our most successful revenue-producing month in the company's history. Our business is increasing, a result of the value that technology products have in the daily lives of our customers, and their need to protect the investment they have made in these products. Moreover, improvements to our processes and procurement of new and used parts have reduced our operating costs, and increased our margins."