Silverco Mining Ltd. press release
CON-SPACE Year-End Sales
TSXV - TSX Venture Exchange · Silver · Zinc · Lead · Gold · Canada
TSX-Venture: Tier 1 SEC Exemption No.82-3378
RICHMOND, BC, July 28 /CNW/ - CON-SPACE Communications Ltd. ("CON-SPACE"), (TSX-V: CCB), (con-space.com), announced today annual sales of approximately $5.4 million for the current fiscal year which ended June 30, 2006. This was a shortfall of approximately $1.7 million compared to the previous year. "In spite of what the numbers show, this was a good year for the Company," said Jim Swanson, Chairman of CON-SPACE. "We came into the fiscal with a plan to project us far beyond our present level. We now have this plan firmly in place, partially implemented and expect the results to show during the course of the new fiscal." "During the past year we finalized the 50% addition to our facility, restructured Senior Management, increased the size of our sales team, created a new line of products for the two way radio industry and implemented a new lean manufacturing program which has resulted in decreased inventory levels," said Terry Ibbetson, President & CEO of the Company. "Unfortunately for us but fortunately for the people of Southern Louisiana, billions of dollars forecasted for the Homeland Security Program in the USA was diverted to help the victims of Hurricane Katrina. This had a negative effect on both our Distributor and OEM sales as their sales levels dropped during the year causing a ripple effect to us. This experience has confirmed our earlier decision to expand our target market into the Communication Industry." "In our effort to overcome the continuing decline of the US Dollar and the after effects of Katrina we have pursued the development of new products and increased our efforts to find a suitable acquisition," said Swanson. "The one thing that is certain is CON-SPACE is now better prepared to reach its fiscal target this year and for future years. Not every year is as you want it to be, but we have used the time wisely and expect to see rewards for investors that have been loyal and patient." CON-SPACE has made a number of announcements lately that indicate its efforts in to the two-way radio industry are progressing on plan.
About CON-SPACE
CON-SPACE is recognized worldwide as the leading designer and manufacturer of specialized voice communication equipment used by Police, Fire, Rescue, Government Agencies, Militaries, Municipalities and general industry. The Company has distribution throughout North America, Great Britain, Australia, and parts of Asia, South America, and Europe. The Company also supplies many other manufacturers with Private Labeled products. This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the CON-SPACE Investor Contact & Information Centre. Alternatively, investors are asked to e-mail all questions and correspondence to CCB(at)Agoracom.com
"Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.
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