TORRANCE, Calif., Jan. 10, 2008 (PRIME NEWSWIRE) -- Execute Sports Inc. ("Execute") (OTCBB:EXCS), a company engaged in the design, manufacturing and sale of water sports products, today announced that it projects revenue growth of approximately 37 percent for the twelve months ended December 31, 2007 in its core water sports business, which includes wetsuits, vests, and rash guards. The Company's Sugar Sand line of water-jet boats, which it acquired late in the third quarter, began shipping against its initial orders for 114 boats. However, due the holidays, it was only able to deliver approximately 20 boats and expects to satisfy the remaining orders in 2008.
Revenue of Execute's core water sports merchandise was boosted by increased sales of its branded life vests and the newly designed rash guard program. In addition to increasing sales with existing customers, the Company was successful in expanding its marine dealers, pro shops and small chain stores network. Further improving revenue were Internet sales and sales of OEM products.
Geno Apicella, CEO of Execute Sports, commented, "During 2007, we added new products to further penetrate our existing customer base by capitalizing on internal relationships and product visibility. Our products sold well and we were also able to expand profit margins. With this as a basis, we are planning to add new products and expand existing lines."
Current projections for 2008 indicate revenue from Execute's core water sports products could increase another 40 percent over 2007 levels, with further increases possibly coming from re-orders as initial inventory is purchased and restocking during the year and into the fall and winter seasons takes place. Orders for all established OEM branded items have already increased, and the company also intends to add new OEM customers.
Mr. Apicella further added, "We introduced new and improved products for the 2008 to our existing customers, in addition to introducing our line to select sporting goods stores and dealers that we think would be a perfect fit for our new line. We have increased our inventory to further support our 'on-line' effort and accommodate immediate deliveries. This will allow us to sell more products for longer periods of time."
Execute Sports is working towards greater domestic and international exposure and product acceptance through increased magazine advertisements and coverage, further product placement intro television shows and on-line visibility. In 2008, Execute branded products will be in more stores domestically and internationally.
About Execute Sports, Inc.
Based in Torrance, California, Execute Sports, Inc. design, develops, and manufactures of water sports products including wetsuits, vests, and rash guards for the action sports industry and water-jet powered boats. The Company's brands include Execute Wetsuits, Vests, Accessories and Wakeskates for action sports and Sugar Sand water-jet boats. For more information, go to http://www.executesports.com and www.sugarsand.com. Execute branded products can be found online at retailers such as The Sports Authority, Dick's, Sport Chalet and Amazon.com. For a full listing of on-line retailers, please visit the company website at http://www.executesports.com.
Additional company information, press releases and general commentary can be viewed by visiting http://www.excs.msprofit.com.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include expectations regarding the ability of the company to continue its growth and the financial performance thereafter. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to accomplish goals and strategies, anticipated revenue enhancements, general economic conditions and the level of consumer spending, and numerous other factors identified in the Company's Form 10-KSB and other filings with the Securities Exchange Commission.