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Probe Posts Record Revenues and Profits for the Fiscal Year 2006
April 6, 2007 | PRNewswireEstimated reading time: 1 minute
Probe Manufacturing, Inc. (OTC Bulletin Board: PMFI), a full-service contract manufacturer filed their annual 10KSB today, and announced record revenues and profits since 2002. Company reported $9,310,464 in revenue for the fiscal year 2006, a 46% and 50% increase from fiscal year 2005 and 2004 respectively. The company also reported $425,134 in net profits from operations for the fiscal year 2006 compared to net losses of ($425,134) and ($747,906) for fiscal year 2005 and 2004 respectively. Earnings for the year ending December 31, 2006 were $0.04 per weighted average share versus losses of ($0.20) and ($0.22) per weighted average share for fiscal 2005 and fiscal 2004 respectively.
Reza Zarif, CEO, stated, "This has been a tremendous year for us. Through hard work and dedication by our employees, we posted record revenues, diversified our customer base, improved our operational efficiencies and became profitable. In addition, we moved into our new facilities in Lake Forest without any business interruptions; and are now well situated to pursue our interest in developing alternative fuel technologies to ensure long term sustainability of the Company." In 2006, the company generated $608,028 net cash from operations, compared to using cash for operations of ($969,076) and ($1,613,540) in fiscal 2005 and 2004 respectively. "The most important financial mile stone for the Company was the amount of cash it generated in fiscal 2006 compared to how much cash it used in previous years whereby we were able to pay down debt by $351,423," said our CFO, John Bennett.
About Probe Manufacturing, Inc.
Probe Manufacturing, Inc. was founded in 1995 and is one of Southern California's highest quality, low to medium volume Electronics Manufacturing Services (EMS) companies. Probe manufacturing Inc. provides a full range of electronics manufacturing and supply chain management services to the some of the world's leading telecommunications, industrial, automotive, alternate fuel, hybrid, and medical device manufacturing firms. The Company provides OEMs with low cost of ownership, flexibility, and quality that improves their competitive advantage. Probe's service offerings include new product introduction, collaborative design, materials management, product manufacturing, product warranty repair, and end-of-life support. The Company is also in the process of developing alternative fuel technologies that enable vehicles and generators to operate on clean-burning alternative fuels. Probe Manufacturing's headquarters are located in Lake Forest, California.
To find out more about Probe Manufacturing, Inc. (OTC Bulletin Board: PMFI), visit our website at www.probemi.com. The Company's public financial information and filings can be viewed at www.sec.gov.