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SLS International Announces Record Second Quarter Sales |
Company Reports 20% Sequential Increase; Strong Month of July Begins Third Quarter SPRINGFIELD, Mo., July 21 /PRNewswire-FirstCall/ -- SLS International, Inc. (OTC Bulletin Board: SITI) announced today record unaudited sales for its second quarter ended June 30, 2004. The Company reported net sales of $505,306, a 20% sequential increase compared to sales for the first quarter of $420,916. For the six months ended June 30, 2004, the Company had unaudited net sales of $926,222. At the end of the second quarter, SLS had a record backlog of orders for shipment of $135,197. The company has already shipped $77,500 of loudspeakers and sound systems in July, and expects to ship an additional $175,035 from its current backlog before the end of the month.
"We continue to generate strong interest in our cutting-edge products," said John Gott, SLS International's Chief Executive Officer. "SLS has never been in a better position to capitalize on our unique ribbon driver technology. Our recently formed relationship with Quincy Jones has already generated growing interest from leaders in the music industry. We have also penetrated many of the important vertical markets, as demonstrated by the recently announced deals with universities, nightclubs and churches and we have strengthened our relationships with many of the most influential design and development companies in the United States. Our international business has recently begun to develop, and we have added leading distributors in large markets such as Italy, Spain and Korea. Finally, we are close to completing a deal with one of the largest electronics retailers in the United States, which will give SLS broad exposure among consumers. With the recent expansion of our facility, SLS is positioned to grow revenue rapidly for years to come."
The Company expects to report its second quarter results in August.
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