ATLANTA, Aug. 29, 2006 (PRIMEZONE) -- OTC Stock Review announces that it has initiated coverage of New Century Companies, Inc. (OTCBB:NCNC). New Century Companies, Inc., headquartered in Santa Fe Springs, CA, is one of the leading U.S.-based makers of machine tools, primarily vertical boring mills and large lathes such as vertical turning centers. It also assembles sound-wall modules made from Quilite(r), a lightweight, graffiti resistant alternative to concrete. Quilite is used in freeway noise walls and other sound-absorbing structures like barriers at sports stadiums and electric transformers.
The complete report is available at http://www.otcstockreview.com/Files/NCNC/NCNC_Review.pdf.
Links to additional information on New Century Companies are available at http://www.otcstockreview.com/ncnc.htm.
New Century Companies, Inc. under its brand name, Century Turn, specializes in manufacturing, remanufacturing and retrofitting machine tools, primarily Vertical Boring Mills and large Lathes. By offering remanufactured Vertical Boring Mills, New Century Companies, Inc. saves or conserves millions of dollars per year in energy costs by reutilizing the major castings of each Vertical Boring Mill. Its customer list is a who's-who of durable-goods manufacturing, including some of the largest manufacturing companies in the world. New Century Companies, Inc.'s business model is very simple; they buy used CNC machines, replace all of the components, realign the machine, and add updated CNC capability and electrical and mechanical enhancements. A remanufactured machine is a "like new," state-of the-art machine with a price ranging from $275,000 to $1,000,000, which is substantially less then the price of a new machine.
Second quarter 2006 EPS were positive. Net income was $304,393, or $0.02 per fully diluted share, compared to a net loss a year earlier of ($234,375), or ($0.03) per fully diluted share. For the second quarter 2006 NCNC posted a 90% jump in revenues that put them up over the 50% increase mark for the first half of fiscal 2006. Revenues for second quarter 2006 totaled $2.30 million versus $1.21 million in the second quarter 2005. NCNC posted revenues of $4.00 million for the first half of fiscal 2006 versus $2.64 million in the first six months of fiscal 2005. NCNC finished the quarter with a solid balance sheet and positive stockholders equity. If acquired, NCNC expects its Quilite operation to add $0.05 cents per share in net income this year and $10 million in new revenue, with 30% gross margins, in 2006.
The top two officers of NCNC own 19% of the outstanding shares and have not sold any shares since the company came public.
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