PLYMOUTH, Minn., April 1, 2005 (PRIMEZONE) -- Heartland Holdings Inc. (OTCBB:HTLJ) today announced a monumental sales increase for fiscal year 2004. In its most recent 10KSB filing with the Securities and Exchange Commission, the company reported a phenomenal, more than 1,000 percent sales increase, during fiscal year 2004 compared to fiscal year 2003.
"We are extremely pleased with our phenomenal growth for 2004. Plans are in motion now to build on this substantial growth in 2005. The company will continue its winning strategy of acquiring profitable companies with long-term growth projections and top management teams," Heartland CEO Trent Sommerville said.
The company's sales increased to $49,996,683 in the fiscal year ending December 31, 2004, from $4,428,836 in the fiscal year ending December 31, 2003. The increase marked a growth of exactly 1,029 percent. Sales increased primarily due to the acquisitions of Evans Columbus, Karkela Construction and Monarch Homes. Sales at the company's other subsidiary, Mound Technologies and its subsidiaries, increased in the fiscal year ending December 31, 2004 by 67 percent to $7,389,064 from $4,428,836 in the fiscal year ending December 31, 2003.
About Heartland Inc.
Heartland Inc. is a growing diversified holding company comprised of subsidiaries within several different and distinct industry segments. From heavy machining and fabricated steel products to specialized machinery, commercial construction and builders of new homes, Heartland Inc. is developing broad product and service offerings to provide economic protection and growth opportunities for investors.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as well as some statements in periodic reports and press releases as well as some oral statements of Heartland, Inc. officials made during presentations about Heartland Inc. are considered to be "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include the words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are all forward-looking statements as defined by the Act. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties and assumptions about Heartland Inc., its products, economic and market factors and the industries in which Heartland Inc. does business, among other things. These statements are not guarantees of future performance and Heartland Inc. has no specific intention to update these statements. More detailed information about those factors is contained in Heartland Inc. filings with the Securities and Exchange Commission.
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