NEW YORK, April 26, 2005 (PRIMEZONE) -- This year started off strong for Jordan Kane Floor Coverings, Inc. (Pink Sheets:JKFC). With an impressive $2.8 Million in sales in the 1Q 2005, Jordan Kane is off to the best start in its 9 year history.
Current and future results can be attributed to several factors:
-- Sales from house accounts have increased by 34% as compared to 1st
Quarter in 2004.
-- Contracts from Marriott, Hilton, Club Quarters, Park Central
Hotel, and Millennium Hotels have had a major impact on sales in
this market segment. Currently Jordan Kane is in the mock-up
stages for two new Marriott projects and several other projects
for The UN Millennium Hotel and The Park Central. The hospitality
industry is New York's hottest right now and the opportunity for
future business remains very strong.
-- A record $19.9 billion in spending on city housing, office and
public-works construction is expected this year, said a New York
Building Congress forecast released yesterday.
-- Commercial construction is rebounding -- with 11 major Manhattan
office projects getting under way or in the works. And the city's
residential construction boom should continue -- at nearly the
same pace as last year, when the number of housing units built
topped 25,000 for the first time since 1972. This year, about
23,000 units will be constructed.
The School Construction segment is off to a slow start due to the bureaucracy of NY State agencies. Jordan Kane did ZERO dollars in sales with the New York School Construction Authority (NYSCA) last year. We expect to greatly increase business with them this year. No sales from this segment were registered for 1Q 2005. The most exciting part of the first quarter of 2005 has been our exposure to providing services on a national level.
About Jordan Kane Floor Coverings, Inc: Jordan Kane Floor Coverings Inc. (Pink Sheets:JKFC) supplies and installs commercial floor coverings nationwide for fortune 500 companies by partnering up with manufacturers like Shaw Industries, a subsidiary of Berkshire Hathaway, Mohawk Industries, Triangle Pacific, Armstrong and many other major flooring manufacturers throughout the world. Jordan Kane is establishing itself very quickly by dealing with clients such as: Time Warner, Prudential Securities, Con Edison, Columbia University, Bovis Lend Lease, Marriott Hotels, Cendant Corp., IBM, Crescent Heights, and NBC. These clients recognize the value in Jordan Kane.
For more information please visit our Web site at: www.JordanKane.com This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.