As always we have it here FIRST!!!
We have been watching this one for a few weeks. Now theres fresh PR from yesterday, and an analyst
BUY RECOMMENDATION! Note* (The analyst was not paid for this coverage of PMFI.)
This is one of the few profitable penny stock companies we have ever seen. PMFI has been under the radar way too long. Heres a link to the analyst coverage and a recent PR regarding revenues.
"Probe continues to be a value opportunity and has extended its reach with blue chip affiliation and solid sales," states Senior Analyst Erik Nelson. A full copy of the report and disclosures are available at: http://www.sterlinginvestments.com/research/pmfi/
Note* The share structure can be found in the link above.
PR from august 17th 2011
Probe Manufacturing Reports 7 Consecutive Profitable Quarters and Revenue Growth For its Second Quarter 2011 Results
IRVINE, Calif., Aug 17, 2011 (BUSINESS WIRE) -- Probe Manufacturing, Inc., (Exchange OTC QB : PMFI), a global electronics design & manufacturing services company, today reported results for its fiscal second quarter of 2011, which ended on June 30, 2011. The company reported 54% revenue growth, totaling $1,164,312 for the three months ended June 30, 2011, compared to $754,170 from the same period in 2010 and an increase in net profit from operations of 147%, or $59,688 for the three months ended June 30, 2011 compared to $24,134 from the same period in 2010.
Summary Financial Information - Unaudited
Three month period ended for the six months ended June 30,
2011 2010 2011 2010
--------- ------------ ----------- --------------------
Sales 1,164,312 754,170 2,070,625 1,241,676
Gross Profit 342,728 186,500 583,542 337,856
Net Profit From Operations 59,688 24,134 100,793 41,032
Condensed consolidated Balance sheet
as of
Un-audited
June 30, December 31,
2011 2010
Working Capital $ 103,515 $ 44,385
Total Assets 1,477,780 994,964
Long term Debt - 5,932
Stockholder Equity $ 305,015 $ 183,175
"We're pleased to report that the 2nd quarter of 2011 was our first quarter of over $1 million in sales since 4th quarter of 2008 and as our second quarter results demonstrate, Probe continues to achieve impressive quarterly growth while maintaining profitability," said Kam Mahdi, Probe's CEO. "Furthermore, our second quarter results reflect improved productivity and higher efficiencies. Our year to date revenue growth was primarily due to higher volume from existing accounts of approximately $500,000 and the addition of 10 new accounts. This result again reinforces the confidence that our customers place in our services and the flexibility of our scalable service platform, which we believe is capable of managing the expected growth for balance of 2011 and 2012," commented Kam Mahdi, Probe's CEO.
As a result, the company is planning to expand its sales force in the second half of 2011 and target larger scale contracts in the aerospace, medical, industrial, instrumentation and automotive industries. The company's management believes that Probe's scalability and global resources can now allow the company to experience rapid growth while sustaining the long-term financial health of the company.
About Probe Manufacturing, Inc.
Probe Manufacturing is a global electronics design & manufacturing services company providing innovators with business services through our factory in California as well as factories worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe's common stock is traded on the OTC QB exchange under the symbol PMFI. Further information is available on Probe's website: www.probeglobal.com.
This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether Probe's business strategy and scalable services platform will result in continued growth of revenue for the company and whether it can maintain its revenue growth experienced in the second quarter of 2011. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the EMS industry; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company's periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: Probe Manufacturing, Inc.
CONTACT:
Probe Manufacturing, Inc. Kam Mahdi, Chairman and CEO 949-273-4990 X814 kmahdi@probeglobal.com or John Bennett, CFO 949-273-4990 X807 jbennett@probeglobal.com
Copyright Business Wire 2011
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