Energy & Engine Technology Corporation Reports Preliminary Results Indicating a 39% Increase in Sales for the Year Ended December 31, 2004 Over Same Period in 2003
PLANO, Texas, Jan. 6, 2005 -- EENT (BULLETIN BOARD: EENT) announces significant improvements in its year end results as compared to 2003. For the year ended December 31, 2004, sales were $530,492.50 as opposed to $382,017.00 for the year ended December 31, 2003, representing a 39% increase.
EENT's CEO, Will McAndrew, said: "2004 was an incredible foundation laying year. We are operational in our new production facility, have inventory available to sell and three production lines established. I have initiated an aggressive marketing and sales campaign this week and am holding an all hands marketing meeting in Pompano Beach next week to establish performance criteria and sales expectations. I am encouraged by the upward trend in our numbers for 2004 compared to 2003; however, we are still a significant distance from achieving profitability, and we are continuing our hard work and look forward to continuing the forward movement in 2005."
Please note that all numbers are preliminary and are based upon internal reports from EENT's business segments and have not yet been reviewed by management or audited and therefore may be subject to change. For final numbers, please refer to the annual audit to be included in the Company's Form 10-KSB for the year ended December 31, 2004, to be filed on or about March 30, 2005, which you are encouraged to read for further information. All percentages are approximate.
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, commercial, residential, recreational vehicle 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.