WAYNE, N.J., July 15 /PRNewswire-FirstCall/ -- Anscott Industries, Inc.
(OTC Bulletin Board: ASCT.OB) today reported first quarter revenues grew at a
rate of 10% over the first quarter 2003, and the company expects increased
market share from its new product lines. Results for the current quarter are a
result of the Company's core products and an emerging solvent area. Core
product segments such as detergents and spot removers grew at a rate of 12.3%
and 11.1%, respectively, while finishes, specialty and filtration segments
remained constant. The net benefit surrounding these segments contributed to
an overall growth of 10% to the company's results.
"By keeping our focus on end-user needs and seizing opportunities for
growth, we achieved our goal for the first quarter," said Jack Belluscio, CEO
and President of Anscott. "Looking forward, we see continued favorable
fundamentals in cleaning businesses and significant potential in new cleaning
solvents, specialty products, and commercial filter markets.
"Through deployment of the Anscott's National Sales Force and our growth
plan, we are well positioned for the second quarter of the year and beyond
while we continue to make progress on our acquisition strategy," said
Belluscio.
The following sets forth the Company's highlights from the first quarter:
* Revenue grows at a rate of 10%, a steady increase to the core product
lines expands market share;
* Two core segments showed double-digit increases in sales
year-over-year; detergents by 12.3%, spot removers by 11.1%;
* National sales force opens new territory, marketing to thousands more
end-users in Anscott's history;
* New cleaning solvents point to the future with increases in volume;
Hydroclene solvent increased 100% over the prior period;
Positioning the Company for Future Growth
Anscott continues to make long-term investments to improve its world-class
cleaning products. Anscott Industries began work on alternative cleaning
solvents over 20 years ago and has collected the fundamental knowledge to grow
the business today. Work continues on the expansion at the Company's cleaning
solvent group formed late last year. "The new products introduced this spring,
including our biodegradable solvent Hydroclene(R), have spearheaded a steady
growth, positioning Anscott for stronger gains by year end," said Jeff
Battiston, Product-line Manager. The Company is also in varying stages of
planning and designing additional cleaning additives that complement new
solvent introductions, over the next several months.
The Company is aggressively pursuing low-cost opportunities around the
United States and Canada to expand and improve its leading position in
specialty chemicals for the textile care industry. The Company intends to
install new systems that improve product and customer information for the
end-user and distribution levels. That project remains on schedule and is
slated to come on-line in fall of this year. In June 2004, the Company began
its national training program to accelerate the roll-out of the specialty
cleaning solvent that are currently available. Sid Cullingham, National Sales
Manager said, "The strength of our national distribution network and the drive
of our technical sales force is evidenced by the strong acceptance of our new
products. We are leveraging that strength by offering technical product
solutions to end-users."
About Anscott:
Anscott is one of the world's leading manufacturers of detergents that
clean with environmentally friendly technology. Founded in 1960, Anscott is a
leader within Textile Care Industry with traditional detergents, finishing
agents, and filtration systems for the fabric care industry. Anscott maintains
a North American distribution channel with nearly 1,000 sales representatives,
200 warehouses, and a dedicated technical service team. Anscott sells
professional cleaners non-hazardous solution for clothes and rental uniforms.
Anscott is currently servicing over 5,000 professional cleaners, commercial
laundries and government institutions. Anscott provides technologically
advanced cleaning products that are better, faster and safer than today's
methods.
Statements contained in this press release are not based upon current or
historical fact is forward-looking in nature. Such forward-looking statements
are subject to risk and uncertainties, which could cause actual results to
differ materially from estimated results. Management cautions that all
statements as to future results of operations are necessarily subject to risks
uncertainties and events that may be beyond the control of Anscott Chemical
Industries and no assurances can be given that such results will be achieved.
Potential risks and uncertainties include, but not limited to, the ability to
procure, properly price, retain and successfully complete projects, the
availability of personnel, and changes in technology and competition.
Hydroclene is a Trademark of Anscott Industries, Inc.
SOURCE Anscott Industries Inc.
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Related links:
http://www.anscott.net
CONTACT:
William Bernard, Anscott Industries,
+1-973-305-8700 x333, wbernard@anscott.net
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