TORONTO, Nov. 10, 2009 (GLOBE NEWSWIRE) -- Element 21 Golf Company (OTCBB:ETGF), the leading manufacturer of advanced Scandium Alloy golf and bio-fiber fishing equipment, announced today record results for its fourth quarter (Q4) April 1 - June 30, 2009. The Company generated Q4 revenue of $1,197,000 an increase of 35% compared to revenue of $889,000 in the same period in fiscal 2008. The combined fiscal 2008 Q1, Q2 and Q3 and Q4 revenues are $4,010,000, showing 218% growth in sales as compared to the equivalent period in 2008.
At the same time the Loss from Operations for Q4 decreased by 725% to $184,000 in 2009 from $1,335,000 in 2008.
The Form 10-Q was filed with the SEC on September 28, 2009 and contains the details of the Q4 results.
About Element 21
Element 21's premier products are golf clubs (www.e21golf.com) and fishing poles made out of Scandium and biofiber materials, which are lighter and stronger than Titanium, Graphite and Steel. Element 21's golf clubs have been used by renowned golf pros, such as the winner of the FedEx Cup in 2008.
Element 21 has developed award winning fishing products (www.e21fishing.com). Element 21's Carrot Stix(TM) represents the latest in cutting-edge technology, using a newly developed proprietary method of integrating nano level cellulose bio-fibers into the rod. The fishing products recently were recognized as the "BEST OF SHOW" in the 2007 and 2008 ICAST shows, the world's largest sports fishing show.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" that involve risks and uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events. You should not place undue reliance on these forward-looking statements. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.