Announces 2006 Results
March 30, 5:01 pm ET
Fla.--(BUSINESS WIRE)--Simclar, Inc. (Nasdaq:SIMC - News) today announced
financial results for the fourth quarter of 2006 and for the full year that
ended December 31, 2006. Results for the fourth quarter and for the full year
2006 include the consolidated operations of Simclar, Inc. and its subsidiaries.
For the fourth quarter of 2006, Simclar had net income of $949,000 or $0.15
share, compared to net income of $192,000 or $0.03 per share for the fourth
quarter of 2005. For the calendar year 2006, Simclar had net income of $2.9
million or $0.44 per share, compared to net income of $947,000 or $0.15 per
share for 2005.
year 2006, Simclar reported total revenues of $116.0 million compared to $61.0
million in 2005, a 90% increase. For the fourth quarter of 2006, revenues
increased $15.1 million or 83.5% to $33.2 million compared to $18.1 million
the fourth quarter of 2005.
Russell, Chairman, stated, "I am pleased with the growth in revenues and profits
resulting from our adding the backplane interconnect process to our existing
capabilities in metal fabrication, cabling solutions, printed circuit board
assemblies, and higher level assemblies. Our growth has come from both new
existing customers who are looking to consolidate their business with suppliers
that can meet all their needs. We continue to seek operating efficiencies and
opportunities to leverage all our capabilities to bring higher value to our
Inc., with five North American manufacturing locations, and two regional
Sales/NPI locations, has been engaged in contract manufacturing of electronic
and electro-mechanical products for OEMs for 31 years.
in this news release, which relate to other than strictly historical facts,
as statements about the Company's plans and strategies, expectations for future
financial performance, and markets for the Company's products and services
forward-looking statements. The words "believe," "expect," "anticipate,"
"estimate," "project," and similar expressions identify forward-looking
statements that speak only as of the date hereof. Investors are cautioned that
such statements involve risks and uncertainties that could cause actual results
to differ materially from historical or anticipated results due to many factors
including, but not limited to, the Company's customer concentration, debt
covenants, competition, the effectiveness of our internal controls, and other
risks detailed in the Company's most recent Annual Report on Form 10-K and
Securities and Exchange Commission filings. The Company undertakes no obligation
to publicly update or revise any forward-looking statements.
Simclar, Inc at its website, www.simclar.com for more information about the
Griffin, CFO, 937-220-9777
The following information was filed by Simclar Inc (SIMC) on Thursday, April 5, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.