[Top][All Lists]

[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Portfolio Choice

From: Small-Cap-update
Subject: Portfolio Choice
Date: Fri, 10 Dec 2004 00:12:17 -0500 (EST)

2004 Revenues in Excess of $40 Million Expected for Veltex Corporation
CITY OF INDUSTRY, Calif., Dec. 1 /PRNewswire-FirstCall/ -- Veltex Corporation (Pink Sheets: VLXC - News) expects revenues for 2004 to be over $40 million with net profits of over $7 million or $3 a share. The company currently has approximately 1.3 million shares in the float. Veltex plans on becoming fully reporting and moving off the pink sheets to a major exchange upon completion of its audits, which the company is currently undergoing.

Veltex Corporation plans to enter the $6 billion surf apparel industry. Using similar business models as Roxy and Quicksilver, Veltex will create and design apparel and accessories in order to establish itself in the surf apparel marketplace. Javeed Matin, Chairman and CEO states, "Entering the surf apparel industry offers great growth potential for Veltex. Even capturing a small percentage of this $6 billion industry will significantly impact our bottom line. We can offer customers a quality product at much lower prices than our competitors."

Veltex also announces the expansion of its sales force. Vice President of Sales and Marketing, Jordan Ross, expects to hire up to 50 new sales representatives in the first quarter of 2005. The new sales representatives will primarily focus on expanding Veltex's presence in the U.S. and making the Company a major player in the promotional products industry.

Veltex expects its products will also be offered in major retail and department stores in the first half of 2005. The Company will offer its own brand name products as well as private label apparel and accessories. A new product line is currently being created and designed to offer additional options in this market.

"We look to continue growing the company at increasing rates. Next year should be an excellent year for Veltex as we establish our presence in the U.S. We are taking numerous steps to make Veltex a world class apparel company," states Javeed Matin.

Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.


Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.

For investor relations please contact Daniel Seifer at 248-321-0121 or address@hidden

This email was sent to you from the Stocknewscast.com news room. If you wish to take yourself off ( REMOVE) from our subscription list, please use this link to cancel future deliveries. Thank you.

The Information in a Stocknewscast.com IS A PAID ADVERTISEMENT and is for the viewers information only.Veltex has paid a fee not exceeding $5000.00 in cash or stock to have their corporate information featured once. The corporate information is purely and solely the responsibility of Veltex and it is neither commented upon, researched, or in any manner the responsibility of Stocknewscast.com whose only function is as a supplier of media facilities. Any information provided by the advertisers of Stocknewscast.com, through its media services, is not to be construed as a recommendation or suggestion or offer to buy or sell securities, but is provided purely as an informational media service. Stocknewscast.com. makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the reader or their financial advisor. Investing in securities is speculative and carries risk. Persons who wish to buy or sell securities should only do so in consultation with their registered securities advisers

reply via email to

[Prev in Thread] Current Thread [Next in Thread]