RACINE, WI--(Marketwire - Jun 29, 2011) - Pacific Sands, Inc. (
The company anticipates fourth quarter 2011 revenue will be up more than 50% compared with the $340,289 in revenue reported in the prior year's fourth quarter. As with the company's previous three 2011 quarters, this anticipated increase reflects new customers and significant increases in product shipments to existing customers, particularly its private label products. In the first nine months of fiscal 2011, Pacific Sands' sales nearly exceeded total revenue in fiscal 2010.
Management also anticipates reporting Pacific Sands' first full year of profitability in fiscal 2011, compared with a net loss of $1.3 million in fiscal 2010. In recent quarters, the company has retired debt and reduced total liabilities by more than $1 million, or 60% compared with fiscal 2010. It also eliminated a $341,459 working capital deficit reported at June 30, 2010, expecting to close fiscal 2011 with more than $100,000 of working capital.
"We believe Pacific Sands is exceptionally well-positioned to continue the revenue growth trends of the past several quarters and to flow an increasing amount of revenue to the bottom line because of a much stronger balance sheet, sharply reduced interest expense, and accelerating economies of scale as we more fully utilize our capacity," said CEO Michael Michie.
"We expect fourth quarter 2011 revenue to be the highest quarterly revenue in the company's history. Based on a strong first quarter 2012 pipeline and the opportunity for recurring revenue, we have every indication this positive sales trend will continue. Our focus on the Natural Choices private label business to build a solid, dependable cash flow base for the company is proving to be a winning strategy. In addition to the seasonal increase in the profitable ecoone® pool and spa product sales, we have reworked our private label pricing structure and achieved certain economies of scale in manufacturing to enhance the company's bottom line."
About The Company
Pacific Sands, Inc. (
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The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.
Contact Information:
Contact:
Michael Wynhoff
President
262-619-3261