TUSTIN, Calif., Jan. 21, 2014 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTC:MLHC) ("M Line" or the "Company"), a leading provider of products, assemblies and services to the precision high tech segment of both the aerospace and medical industries as well as a seller of high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment, today announced Company revenues of $5,806,080 for the six months ended December 31, 2013 as compared to $4,421,473 for the six months ended December 31, 2012, representing a 31% increase. Profits are estimated to be $307,000 compared to a loss of $(742,089) for the six months ended December 31, 2012, representing a $1,049,089 improvement.
Bruce Barren, CEO of M Line, commented, "These results validate our turnaround. We continue to make good progress towards meeting our forecast of $15 million in revenue and $1,500,000 in profit for fiscal 2014. Our focus remains on building shareholder value and our continued growth supports these efforts."
Tony Anish, COO of M Line, added, "Our lack of working capital has hampered our efforts to further increase revenues and achieve greater profits, but even with those difficulties, we have executed this turnaround. We are excited about the rest of the year. The market is well positioned for our Company products and we expect it to show a positive trend over the next 5-10 years."
About M Line Holdings, Inc.
M Line Holdings, Inc. (OTCQB:MLHC). M Line provides products and services to the precision high tech segment of both the aerospace and medical industries as well as selling high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment. Key customers of our group include Panasonic Avionics, UTC Aerospace Systems, Beckman Coulter and BE Aerospace as well as our exciting new relationship with SIE (Structural Integrity Engineering). The Company is headquartered in Tustin, California, with its machine sales division located in Anaheim, California. For more information see our website at http://www.mlineholdings.com/
This news release contains certain "forward- looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.