Energy & Engine Technology Corporation Reports 55% Increase in Sales for the Nine Months Ended September 30, 2004 Over Same Period in 2003
PLANO, Texas, Dec. 6, 2004 -- EENT (BULLETIN BOARD: EENT) announces great improvements in its results as compared to the third quarter in 2003. For the three months ended September 30, 2004, net sales were $218,034 as opposed to $174,482 for the three months ended September 30, 2003, representing a 25% increase. For the nine months ended September 30, 2004, net sales were $438,869 as opposed to $283,538, representing a 55% increase. For the three months ended September 30, 2004, its net loss was $1,085,646 as opposed to $2,286,927 for the three months ended September 30, 2003, representing a 53% decrease. For the nine months ended September 30, 2004, its net loss was $3,590,922 as opposed to $3,059,679 for the nine months ended September 30, 2003 representing a 17% increase (due to stock compensation in 2003).
Net loss per share numbers also look encouraging: $.01 per share for the three months ended September 30, 2004, as opposed to $.05 per share for the three months ended September 30, 2003, and $.04 per share for the nine months ended September 30, 2004, as opposed to $.09 per share for the nine months ended September 30, 2003. Please note that all numbers in this press release were previously reported in EENT's Form 10-QSB for the quarter ended September 30, 2004, and are qualified in entirety by the Form 10-QSB, which you are encouraged to read for further information. All percentages are approximate.
EENT's CEO, Will McAndrew, said: "While we still have a ways to go to achieve profitability, I am pleased with our strengthening trend, and look forward to an exciting end to 2004, and a strong 2005, with production and sales continuing to increase."
About Energy & Engine Technology Corporation
EENT (http://www.eent.net/ ), headquartered in Plano, Texas, develops and markets power generation products for the long haul trucking industry and for marine, military and stand alone applications through its BMZ Generators Technology subsidiary.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Energy & Engine Technology Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Energy & Engine Technology Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.