American Access Technologies Releases President's Annual Message To Shareholders
June 16 2005 - 10:30AM
PR Newswire (US)
American Access Technologies Releases President's Annual Message To
Shareholders KEYSTONE HEIGHTS, Fla., June 16 /PRNewswire-FirstCall/
-- American Access Technologies, Inc. (NASDAQ:AATK) released the
following message to stockholders from its President, John E.
Presley, which appears in the 2004 Annual Report. To our
Stockholders: 2004 was the second consecutive year in which
American Access Technologies, Inc. met its goal of achieving record
revenues. We attained all-time record revenues of $6.740 million, a
solid 22.2% increase over the prior year. This result was primarily
due to a 47.6% increase in sales of our zone cabling and wireless
products. Our strategic alliance with Chatsworth Products, Inc.
("CPI"), initiated in May 2003, is continuing to result in
extraordinary sales growth of these products. We anticipate that
our sales results will continue to reflect improving economic
trends in our industry groups and benefit from improvements in
CPI's sales and marketing activities. Sales to our OEM customers
are also an important factor in achieving record results for our
zone cabling and wireless products. In August 2004, we announced
our latest OEM supply agreement with a leading manufacturer of
electrical and electronic wiring devices, which is noted for
bringing its customers products that meet and exceed the latest
official standards, and challenging the market with innovative new
solutions. We expect our many OEM partners to continue to make an
impact in 2005. In December 2004 and again in 2005, the
Telecommunications Industry Association released more important
standards for zone cabling and we look forward to additional
standards releases in the future. The publication of new standards
gives official recognition to the concept and application of zone
cabling. We also anticipate that zone cabling will continue to
benefit from the move towards the open office environment and that
advances in telecommunications technologies and network economics
will increase zone cabling in both existing and new construction.
Additionally, the new TIA standards mark important milestones in
acceptance of zone cabling for telecommunications wiring. Earlier
this year we made some important financial projections for 2005. We
announced that we expect our 2005 revenues to result in another
record and also that we expect to achieve profitability this year.
The increasing percentage of our total sales represented by our
zone cabling and wireless products should help us reach this goal,
since these products have a higher gross margin and lower cost of
sales. Additionally, we instituted price increases on several
products in recognition of increasing prices of raw materials and
energy. We also invested in new equipment to increase productivity
and lower production costs while at the same time maintaining the
high-quality standards our customers expect at a competitive price.
The Company purchased approximately $294,000 of new equipment
during 2004 and in late March 2005, we unveiled our new laser
manufacturing equipment, again expanding our manufacturing
capabilities and improving productivity. At a cost of nearly $1
million, we feel the laser purchase was an important milestone in
the Company's history. We continue the process required to achieve
ISO 9000 certification at our Keystone Heights facility. ISO 9000
is an international quality standard that recognizes a company's
capability for reliable delivery of high-quality products and
services. We expect to undergo our certification audit in 2006 and
believe it will further demonstrate to potential customers that
American Access is a supplier that they may use with confidence. We
are continuing to follow a conservative debt-free fiscal policy. We
financed our purchase of laser manufacturing by a private placement
stock sale to institutional investors and are proud to have the
support of these sophisticated investors. We have made substantial
progress towards meeting the new corporate governance requirements
of the NASDAQ Stock Market. With the addition of Howard W. Kelley
as an independent director in May 2005, our audit committee is now
made up entirely of independent directors and we expect to meet the
balance of the requirements before the deadline. You may review
more of our corporate governance initiatives and learn about our
products on our website: http://www.aatk.com/ . We at American
Access Technologies, Inc. wish to thank our loyal stockholders,
customers and employees who continue to have faith in us and renew
our pledge that we will remain diligent on building an enduring and
prosperous company. Sincerely, American Access Technologies, Inc.
John E. Presley President and Chief Executive Officer June 1, 2005
About American Access Technologies, Inc. American Access
manufactures patented zone cabling and wireless enclosures that
mount in ceilings, raised floors, and in custom furniture, for
routing of telecommunications cabling, fiber optics and wireless
solutions to the office desktop which comply with TIA standards.
The Company's concept of "zone cabling" reduces the cost of initial
network installation and facilitates moves, adds, changes and
upgrades for the network installations of today and tomorrow. Its
Omega Metals division manufactures its proprietary products, and
also provides state-of-the-art metal fabrication and finishing
services for public and private companies and for U.S. government
contractors. Our SEC filings, news and product/service information
are available at http://www.aatk.com/ . Cautionary Note Concerning
Forward-Looking Statements: This communication contains
forward-looking statements as defined in Section 27A of the
Securities Exchange Act of 1934, regarding future revenues and
profits. While the Company believes that such forward-looking
statements are based on reasonable assumptions, there can be no
assurance that such future revenues and profits will be achieved or
achieved on the schedule indicated. Furthermore, unanticipated
future events, conditions and financial trends may affect the
Company's revenues, operating results and financial position.
Prospective investors are cautioned that these forward-looking
statements are not guarantees of future performance. Actual events
or results may differ from the Company's expectations, and are
subject to various risks and uncertainties, including those listed
in the Company's SEC filings. The Company assumes no obligation to
publicly update or revise its forward-looking statements even if
experience or future events make it clear that any of the projected
results expressed or implied herein will not be realized. Company
Contact: Joe McGuire, Chief Financial Officer (352) 473-6673/
DATASOURCE: American Access Technologies, Inc. CONTACT: Joe
McGuire, Chief Financial Officer, American Access Technologies,
+1-352- 473-6673, or Web site: http://www.aatk.com/
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