Armor Designs, Inc. Preliminary Unaudited Results for 2012 (0897H)
14 Juni 2013 - 1:30PM
UK Regulatory
TIDMADID TIDMADIS
RNS Number : 0897H
Armor Designs, Inc.
14 June 2013
14 June 2013
Armor Designs, Inc.
("ADI" or the "Company")
Preliminary Unaudited Results for End of the Year 2012
ADI (AIM: ADID), the knowledge-based designer, developer and
manufacturer of next generation composite protective products in
the fields of oil & natural gas, infrastructure, aerospace,
sports, nuclear, and personal protection, is pleased to release to
the market some key unaudited preliminary results, in advance of
the release of the final audited statements. These include:
Business Developments:
1) Delivery and Payment of three shipments for the previously
announced US $54 million 3-year Purchase Agreement with C&W
Murphy & Associates
2) Completed move and fit out of new manfacturing facility,
which gives the Company a firm basis for manufacturing demands
3) ADI has been upgraded in status and has emerged from development stage operations as a result of earning substantive revenues under the Purchase Order Agreement
Financial Developments:
1) ADI had an increase in sales revenue from US $0.64 million at
end of year 2011 to US $5.5 million at end of year 2012.
2) ADI had a positive operating cash flow for the first nine
months of of 2012
3) ADI has reduced operating losses from US $8.4 million at end
of year 2011 to US $4.0 million (including US $3.0 million after
non-cash items) at end of year 2012
Post Balance Sheet:
1) Equity Fundraising US $1.15 million in 2013, for working
capital requirements
2) ADI continued its efforts to correct and strengthen the
balance sheet, while continuing to fulfill both domestic and
international purchase orders
The audited 2012 year end results will be issued before the end
of this month.
For further information:
Armor Designs, Inc.
James A. St. Ville, M.D., COB, CEO, Tel: +1 (602) 275-4633
President
www.armordesigns.com
Daniel Stewart & Company, plc.
Paul Shackleton and James Felix Tel: +44 (0) 2077766550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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