TUSTIN, Calif., Sept. 5, 2013 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTCQB:MLHC) announces that based on the sales revenues of $1,589,000 for July and August, the revenues for the full first quarter 2014 will be in excess of $2,600,000 as compared to $1,980,590 for the first quarter fiscal 2013, a 25% improvement in revenues.
Bruce Barren, CEO stated, "We have positioned ourselves for growth and we are seeing a steady improvement in revenues over fiscal 2013. Traditionally July and August are slow months for machine sales and we expect revenues to grow at a faster rate over the next few months."
Tony Anish, COO stated, "The Company is making significant progress in meeting its forecasted goals for fiscal 2014. As a result we expect much improved earnings for fiscal 2014."
The revenue for the fourth quarter of 2013 was in excess of $2,500,000. This revenue was not only an improvement over the prior quarters for 2013 but started the growth pattern that is now being forecasted.
Over the next few weeks the Company will be issuing the 2013 10-K and the 10-Q for the first quarter 2014.
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 and Beckman Coulter. The Company is headquartered in Tustin, California. For more information see our website at www.mlineholdings.com
Forward Looking Statements
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.
CONTACT: Investor Relations: Tom Nelson Phone: 480-326-8577
Source:M Line Holdings, Inc.