SLS International Announces Record Second Quarter Revenue
July 19 2005 - 9:30AM
PR Newswire (US)
SLS International Announces Record Second Quarter Revenue Revenue
Increases 75.6% Versus Year-Earlier Period; Backlog of $539,571 is
Highest in Company's History SPRINGFIELD, Mo., July 19
/PRNewswire-FirstCall/ -- SLS International (OTC:SITI) (BULLETIN
BOARD: SITI) announced today that it expects to report second
quarter revenue, for the period ended June 30, 2005, of $887,155,
the highest in the company's history and a 75.6% increase from the
same period in 2004. For the six months ended June 30, 2005, the
Company expects to report revenue of $1,756,724, an increase of
89.7% versus the first six months of fiscal 2004. At the end of the
second quarter, the company had a backlog of $539,571 in orders to
be shipped, the highest in its history. "While we are pleased that
we were able to report another record quarter of sales, we are most
excited about the opportunities for growth during the second half
of our fiscal year," said John Gott, SLS International's Chief
Executive Officer. "Our recently introduced Cinema Series has
generated a great deal of interest, and we expect to sell our
speakers for many new projects. In addition, due to delays in
construction at the Trump Grande Ocean Resort & Residences, an
oceanfront condominium project, located in Sunny Isles Beach,
Florida, we expect many of the orders to occur during the third and
fourth quarters. We also believe that many of the new distributors
we signed in Germany and the Caribbean will enhance international
sales. In addition, we have entered into agreements with
representative firms across the U.S. to give us even greater
geographic penetration. Our agreement with Mark Burnett should
enable us to raise our profile significantly, through exposure on
such national television shows such as 'Rock Star: INXS'. Finally,
we are actively preparing for the launch of our products this Fall
in one of the largest retailers in the world. Our new,
state-of-the-art facility gives us the ability to efficiently
support these initiatives." Some of the highlights of the second
quarter included: * Agreement with Mark Burnett Productions. The
Company entered into a three-year promotion agreement with Mark
Burnett, executive producer of reality programs such as "Survivor,"
"The Apprentice" with Donald Trump, and his production company.
Under the terms of the agreement, Mr. Burnett and his production
company will work to create product integration opportunities for
SLS and SLS-branded products to be integrated into his prime-time
network television productions and to secure product placements of
SLS products. Mr. Burnett will also act as a consultant to SLS on
various business development projects. * New corporate
headquarters. The Company completed its new 150,000 square foot
manufacturing facility located in Ozark, Missouri. The new Facility
has the capability to produce over $200 million of audio products,
plus has the infrastructure to support and partially warehouse
product in excess of $1 billion in annual revenue. Based upon its
state-of-the-art design, the Facility is expected to significantly
enhance the Company's efficiency, improving its operating margins.
* Agreement with leading German distributor. The Company selected
Audio Concepts as its new distributor in Germany. The agreement is
expected to significantly expand distribution of the company's
products to the very large installation and touring markets in
Germany. * Enhanced distribution capabilities. SLS selected three
new sales representative firms in conjunction with its nationwide
marketing campaign. The recent appointments are expected to
increase SLS's distribution of products in the United States and
Caribbean. * Expansion of Management team. SLS appointed Steven M.
Lamar as President and Michael Maples as Chief Operating Officer
and Chief Financial Officer. Mr. Lamar was formerly a Managing
Partner at BayStar Capital Management, LLC, the Company's largest
investor. Mr. Maples has served as an SLS Director since 2001. The
Company expects to file its 10-Q for the period ended June 30, 2005
during mid-August. Matters discussed in this press release contain
forward-looking Statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks
and uncertainties. These include, but are not limited to, risks and
uncertainties associated with the impact of economic, competitive
and other factors affecting the Company and its operations,
markets, product, and distributor performance, the impact on the
national and local economies resulting from terrorist actions, and
U.S. actions subsequently; and other factors detailed in reports
filed by the Company with the Securities and Exchange Commission.
DATASOURCE: SLS International CONTACT: Jeff Lowry of SLS
International Inc., +1-417-883-4549, +1-417-883-2723 (fax), ; or Ed
Lewis of CEOcast, Inc., +1-212-732-4300, +1-212-732-1131 (fax), ,
for SLS International Inc. Web site:
http://www.slsloudspeakers.com/
Copyright