Marmion reported record revenues for the year ended
Revenue growth was driven largely by the company's decision to diversify into the commercial sector of the HVAC industry and the subsequent award and partial completion of several large commercial projects.
Management firmly believes that revenue growth will continue in 2008 due
in large part to a number of factors including: the successful expansion
efforts of the company's industrial division into the
Cost of good sold increased
Total costs and expense as a percentage of revenues decreased 20.3% during
fiscal year 2007 to 23.8% from 44.1% for fiscal year 2006. General and
administrative expenses decreased
Marmion ended fiscal year 2007 with cash on hand of
Corporate highlights for the year include: -- Completion of a project for Lucite International -- Shipping product to an established end-user base that includes ConocoPhillips -- Diversification into the commercial HVAC sector -- Being chosen for the new "Leadership in Energy and Environmental Design 'LEED' Certification of Quality Program". -- Being awarded approximately $3,000,000 worth of commercial contracts within a relatively short time frame. -- The purchase of 2.75 acres of land in Houston, Texas, with intent to construct a new 126' X 250' multi-use facility.
CEO
About Marmion Industries Corp
Marmion Industries Corp. specializes in Explosion-Proof Heating,
Ventilation, Cooling Pressurization and chemical filtration solutions for
mission-critical applications. Our reputation is based on superior equipment
and service, from south
Further information on Marmion Industries is available at: http://www.marmionind.com and http://www.microstockprofit.com
Forward Looking Statements
The information in this news release includes certain forward-looking statements that are based upon management's expectations and assumptions about certain risks and uncertainties that can affect future events. Although management believes these assumptions and expectations to be reasonable on the date of this news release, these risks and uncertainties may cause actual events to differ material from managements those contained in this news release. The risks and uncertainties include, but are not limited to, continuing as a going concern, availability and cost of our present vendors and suppliers, and absence of any change in government regulations or other costs associated with data transmission over the Internet or termination of transmissions in foreign countries.
Investor Relations Contact: Seacoast Advisors Keith Reinhardt IR@seacoastadvisors.com 858-205-5798
SOURCE Marmion Industries Corp