PLYMOUTH, Minn., June 27, 2005 (PRIMEZONE) -- Heartland Holdings Inc. (OTCBB:HTLJ) today announced a more aggressive growth strategy that would capitalize on the monumental sales increase for fiscal year 2004. The company will continue its successful strategy of acquiring profitable companies with long-term growth projections and top management teams. CEO Trent Sommerville added, "We are committed to strengthening our core technologies while at the same time looking toward the future with an eye for diversity with vision." 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 appreciate the growth numbers that validate the financial principals and economic potential we envision. We are more confident that our strategic plan is on target and that the successful actions we have executed can be duplicated over and over and compound our phenomenal growth for 2005. Plans are in motion now to build on this substantial growth in 2005," said Sommerville.
The company's sales actually multiplied over 10 times from the $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 our customers, employee and investors.
The three businesses that were acquired by Heartland between 2004 and 2005 are Evans Columbus, Monarch Homes and Karkela Construction. These companies, along with Mound Technologies Inc., a subsidiary of Heartland, are all located in the Midwest. Working together with improved access to capital markets and the ability to market products through Heartland on a national and eventually international basis is projected to drastically improve sales while reducing unit costs.
For more information, visit http://www.heartlandholdingsinc.com.
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