Liteglow Industries Inc. Reports Sales & Earnings for the Month
21 December 1999
Liteglow Industries Inc. Reports Sales & Earnings for the Month & 11-Months Ended Nov. 30, 1999
POMPANO BEACH, Fla.--Dec. 15, 1999--Lou Wiener, COO of Liteglow Industries Inc. (OTCBB:LTGL), announced sales and profit results for the month of Nov. 1999, and for the 11 months ended Nov. 30, 1999.November sales showed a 152% increase over the comparable period in 1998, and for the 11-months ended Nov. 30, 1999, sales increased 87%.
During the month of Nov. 1999 Liteglow reported the following results and improvements vs. Nov. 1998.
Nov. '99 Sales Nov. '98 Sales Nov. '99 Profit Nov. '98 (Loss) $629,756 + 152% $249,781 $ 24,627 $(296,124) For the eleven months ended Nov. 30, 1999, the cumulative sales and earnings and improvements are as follows, in comparison with the 11 months ended Nov. 30, 1998. 1999 Sales y.t.d. 1998 Sales y.t.d. 1999 Net y.t.d. 1998 Loss y.t.d. $4,928,491 + 87% $2,634,685 $462,814 $(984,379)
Wiener stated: "Profits of $24,627 for the month of November 1999 were below the average of earlier months this year because of several unusual charges, including bad debt write-offs in excess of $20,000, and legal fees for S.E.C. filings. Based upon the 3,931,087 shares outstanding, Liteglow's 11-month net income represents 11.8 cents per primary share, which is in line with our projections. Fully diluted, earnings were 5.1 cents per share."
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.