GARDEN GROVE, Calif.--()--Deltron, Inc. (OTCBB: DTRO) is pleased to report strong financial performance for the three quarter period ended June 30, 2011. Between October 1, 2010 and June 30, 2011 Deltron’s wholly owned manufacturing subsidiary generated $2,511,871 in revenue, a 27.5% increase, and $451,598 in gross profit. EBITDA also rose 522% over the same period last year.
Henry Larrucea, CEO of Deltron, commented: “The Company continues to realize increased sales and significant profitability improvements in 2011. Following nine months of strong profit and earnings growth we are excited by the potential for persistent quarterly gains. With lean operations, sales increases, improving gross margins, and growing traction within the niche markets we serve, Deltron continues to increase its profit potential, building value for shareholders.”
Established in 1979, Deltron’s wholly owned Elasco, Inc. subsidiary is an engineered plastics and polyurethane molding and manufacturing company with a highly efficient production facility in Southern California. The company provides complete design and manufacturing services including prototype work, mold and tooling design, manufacturing, custom casting, plastic injection molding and proprietary polymer mixing.
For the three quarters ended June 30, 2011, Deltron’s Elasco generated $2,511,871 in revenue, a $541,813, or 27.5% increase over the same period in 2010. Gross profit for these nine months grew $240,460 to $451,598, a 114% increase. EBITDA grew 522%, from a net loss of $41,941, to a $177,156 gain.
Earlier this month Deltron’s Elasco reported revenues of $782,970 for the quarter ended June 30, 2011. Although sales decreased slightly, down 8.4% from the same three-month period in 2010, Elasco achieved a significant increase in profitability. For the quarter, the company increased gross profit 30.4%, from $90,452 to $117,942. This represents an increase of $27,490 over the third quarter last year.
|Summary Financial Information|
Nine months ending June 30,
|Cost Of Sales||2,060,273||1,758,920||301,353||17.1||%|
About Deltron, Inc. (DTRO.OB)
Deltron acquires profitable businesses with strong management teams, substantial revenue and established market positions. Wholly owned Elasco is a proven innovator in product manufacturing with a 32-year operating history, diverse customer base and vertically integrated manufacturing facility in Garden Grove, California. Blu Vu, a division of Deltron, is a developer of proprietary closed circuit rebreather technology and components that go beyond conventional scuba systems to enable commercial and recreational divers to go deeper, stay underwater longer and recover faster.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. DTRO has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect DTRO’s current beliefs and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the DTRO’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. DTRO undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.