Halitron, Inc Beats $350,000 Forecast for the First Quarter of 2018
May. 16, 2018
Gross profit up and increasing margins and cash flows for the reminder of the year
NEWTOWN, CT, May 16, 2018 (GLOBE NEWSWIRE) -- Halitron, Inc. (the “Company,” “Halitron”) (OTC: HAON), a multisector holding company, is pleased to announce the financial results for the quarter ending March 31, 2018. Below is a list of financial and operational updates:
-- Sales were $361,000 in Q1, 2018, a period in which management relocated operations in New York to Connecticut facilities without a negative impact to shipments. -- Direct Gross Margins for the portfolio manufacturing company were 69.8% for the quarter. -- A one-time charge of $46,529 was incurred directly due to the successful relocation of Hopp assets to a lower-cost Connecticut facility. -- The combined cash balance at the end of the quarter totaled $61,280. -- Solid revenues, consistent margins, as well as the exit of our New Hyde Park, New York facility will reduce overhead costs and improve cash flows for the remainder of the year.
The operating and financial performance of the Company during the first quarter was very efficient and within budget. Seamlessly operating the day-to-day order flow and, at the same time, relocating an entire 5,000 square foot factory was very impressive. Management will now focus on sales growth initiatives over the next few quarters including developing the relationship with the recently awarded 425+ full-chain point of purchase supplies project.
About Halitron, Inc.
Halitron, Inc. is focused on acquiring sales, marketing, and manufacturing businesses to roll into efficient, low-cost operating infrastructures. Management targets operating entities that can benefit from our current operating infrastructure or operate autonomously and utilize our product or service offerings in order to expand their existing operations. For more information on Halitron, Inc., please visit: www.halitroninc.com.
Halitron is neither an underwriter (as the term is defined in Section 2(a)(11) of the Securities Act of 1933) nor an investment company pursuant to the Investment Company Act of 1940. Halitron is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron is not registered with FINRA or SIPC.
@Hopp Companies, Inc.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. Halitron, Inc is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron, Inc. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron, Inc. is not registered with FINRA or SIPC.
Contact: Halitron Investor Relations 3 Simms Lane, Suite 2F, Newtown, CT 06470 1-877-710-9873 www.halitroninc.com email@example.com