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EMTA net sales up 162.9% compared to FY 2007
SCOTTSDALE, Ariz. -- EMTA Holdings, Inc, maker of XenTx, Synergyn and other engine treatment and fuel efficiency products, today reported that they had filed the Company‘s FY 2008 10-K Annual Report.
The report detailed an overall positive year in both operations and sales. Net Sales increased from $1,053,767 in 2007 to $2,769,949 in 2008 or an increase of $1,716.182 or 162.9%. This increase was due to improved XenTx sales to the commercial/industrial market and an increase in Dyson sales.
The Company reduced its emphasis on retail sales and focused on the commercial/industrial market, particularly long haul trucking fleets and large earth moving equipment companies. The Gross Margin decreased by 6.8% which was due to increased petroleum based raw material costs used by the Synergyn product mix.
The Company continued to reduce costs which resulted in both a reduction in SG&A expenses of $234,583 and R&D expenses of $186,247. These reductions provided that more funds could be directed primarily into raw material purchases as a result of increased sales demand.
Net loss for 2008 was $2,450,084 as compared to $17,056,043 from the previous year.
The results of this strategy is one of the reasons that the Company was able to achieve first quarter revenues for this fiscal year of $1,842,000 and net income of approximately $500,000 as was previously reported. Projected revenues for the current quarter are between $2.4 million and $2.8 million with a net income of between $648,000 and $756,000.
EMTA Holdings, Inc. CEO Edmond L. Lonergan stated, "The Fiscal Year that just ended was a challenging year for the Company but it laid the foundation for what should be the continuing success in Fiscal Year 2009."
EMTA Holdings, Inc develops and manufactures innovative products to conserve energy, particularly for petroleum-based fuels. The Company’s engine and fuel additives are marketed under the brands XenTx, Synergyn and CleanBoost brands, and are sold both to commercial and retail customers.
Courtesy: EMTA Holdings Inc, USA
The report detailed an overall positive year in both operations and sales. Net Sales increased from $1,053,767 in 2007 to $2,769,949 in 2008 or an increase of $1,716.182 or 162.9%. This increase was due to improved XenTx sales to the commercial/industrial market and an increase in Dyson sales.
The Company reduced its emphasis on retail sales and focused on the commercial/industrial market, particularly long haul trucking fleets and large earth moving equipment companies. The Gross Margin decreased by 6.8% which was due to increased petroleum based raw material costs used by the Synergyn product mix.
The Company continued to reduce costs which resulted in both a reduction in SG&A expenses of $234,583 and R&D expenses of $186,247. These reductions provided that more funds could be directed primarily into raw material purchases as a result of increased sales demand.
Net loss for 2008 was $2,450,084 as compared to $17,056,043 from the previous year.
The results of this strategy is one of the reasons that the Company was able to achieve first quarter revenues for this fiscal year of $1,842,000 and net income of approximately $500,000 as was previously reported. Projected revenues for the current quarter are between $2.4 million and $2.8 million with a net income of between $648,000 and $756,000.
EMTA Holdings, Inc. CEO Edmond L. Lonergan stated, "The Fiscal Year that just ended was a challenging year for the Company but it laid the foundation for what should be the continuing success in Fiscal Year 2009."
EMTA Holdings, Inc develops and manufactures innovative products to conserve energy, particularly for petroleum-based fuels. The Company’s engine and fuel additives are marketed under the brands XenTx, Synergyn and CleanBoost brands, and are sold both to commercial and retail customers.
Courtesy: EMTA Holdings Inc, USA
