Liteglow Industries, Inc. Reports Record Sales & Earnings
14 July 1999
Liteglow Industries, Inc. Reports Record Sales & Earnings for the Six-Months Ended June 30, 1999
Business Editors
POMPANO BEACH, Fla.--July 13, 1999--Lou
Wiener, COO of Liteglow Industries, Inc. (OTC BB:LTGL), announced
record sales and profits for both the month of June 1999, and for the
first six months of 1999.
Six-month sales through June 30, 1999 showed a 97% increase over
the comparable period in 1998. During the month of June 1999 Liteglow
reported the following results and improvements vs. June 1998:
-0-
*T
June '99 June '98 June '99 June '98
Sales Sales Profit (Loss)
$470,579 +77% $265,259 $77,927 $ (85,902)
For the six months ended June 30, 1999, the cumulative sales and
earnings and improvements are as follows, in comparison with the six
months endedJune 30, 1998:
1999 Sales 1998 Sales 1999 Net 1998 Loss
y.t.d. y.t.d. y.t.d. y.t.d.
$2,673,529 +97% $1,355,953 $325,940 $(366,998)
*T ¶ Wiener stated: "Based upon the 3,931,087 shares outstanding,
this represents a net income of 8.2 cents per share, which is in line
with out projected net of 15-20 cents per share earnings for the year!
The reason for the increase in sales and profits is attributed to
better products and distribution, and tighter control of expenses."
Wiener added: "Liteglow's vastly improved operating results in
first-half 1999 have also benefited the balance sheet. At 6-30-99
(unaudited): net working capital exceeded $650,000; shareholders'
equity approached $1,000,000; and the current ratio was a comfortable
1.8 to 1.0."
Liteglow's products can be found throughout the country in many
leading automotive and electronics retailers. For more information or
an investor information package contact Liteglow Industries Inc. at
800-801-GLOW (4569), or e-mail at spencer@liteglow.com. Fax number is
954/971-5117. Don't forget to visit our websites at:
www.liteglow.com or www.lowglow.com.