LAS VEGAS - (Business Wire)
Green Parts International,
Inc. (PINK SHEETS: GNPT), announced today their financial results for Q2 ending June 30, 2008. The revenues for the quarter exceeded more than $2 million dollars at 10% EBITA before one-time items. The significant upsurge in revenue represents an increase of approximately $1.2 Million in comparison to the same quarter in 2007. The contrast of these 2 quarters represents a substantial increase of 136% in sales. The company is expecting to meet or exceed its revenue for the 2008 fiscal year.
A statement from President/CEO Asif commented, “We are very pleased with our current numbers. Not only did we exceed our own projections, we accomplished this without adversely affecting our margins. Since Greenparts added another quarter of profitability and a back log of orders to fill, we should attain exemplary financial results that meet or surpass our goals. In the current marketplace, changes in commodity prices are continually taking place. In our business sector of recycled steel and used auto parts, we are in a position to benefit from our diversified product assortment and customer base, regardless if prices change or not.” The rising demand of recycled metals and the cessation of virgin steel production makes Greenparts International a predominant force in this marketplace.
Green Parts International is headquartered in Atlanta, Ga. For further information about Green Parts International, visit the websites; www.greenparts.com or www.princetonresearch.com for Investor Relations and the latest research report or http://pinksheets.com/pink/quote/quote.jsp?symbol=gnpt#getFilings for the latest financials.
Forward Looking Statement
The contents of this Press Release may be deemed to include forward-looking statements within the meaning of United States securities laws and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only predictions and you should not rely on them. Actual results might differ materially from those projected in any such forward-looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. We cannot guarantee future results, levels of activity, performance or achievements. In evaluating forward-looking statements you should consider various factors including risks inherent in the scrap metal business sector.
Green Parts International, Inc.
Asif Balagamwala, President/CEO, 404-589-8000
or
Investor Relations, 702-650-3000
