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M Line Holdings, Inc. Forecasts Last Quarter Figures

Dépèche transmise le 8 juin 2011 par Business Wire

M Line Holdings, Inc. Forecasts Last Quarter Figures

M Line Holdings, Inc. Forecasts Last Quarter Figures

TUSTIN, Calif.--(BUSINESS WIRE)--M Line Holdings, Inc. (OTC Bulletin Board: MLHC):

“At long last we are beginning to achieve much better monthly revenues. This increase does not include the anticipated work that will come as soon as the new Boeing 787 dreamliner is in production, but does reflect work due to increased production of the Boeing 737 and 777 Jetliners.”

Forecast results for fourth quarter

M Line Holdings, Inc. (OTC Bulletin Board: MLHC)(“M Line Holdings” or “the Company”), announces a forecast of the last quarter’s figures for the 2011 fiscal year.

  • Revenues for the quarter are expected to exceed $3,600,000 compared to $2,089,700 for the fourth quarter of 2010 fiscal year
  • EBITDA for the quarter is expected to be in excess of $300,000 positive compared to ($217,030) for the fourth quarter of last year.
  • This fourth quarter will be better than any quarter in the preceding two years.

Business Trend

New orders at Eran Engineering, Inc. our precision metal machining subsidiary have risen significantly.

  • Our back order position has increased by over $1,500,000 over the last few months.
  • As disclosed previously The Company has been expecting improved revenues and this has been achieved by obtaining new orders from existing and new customers.
  • To meet the increased demand we have added new employees increasing our work force by almost 20%.

Elite Machine Tool has seen a dramatic increase in business due to an improving economy which has resulted in a greater need for capital equipment.

George Colin, CEO of M Line Holdings, Inc., stated, “At long last we are beginning to achieve much better monthly revenues. This increase does not include the anticipated work that will come as soon as the new Boeing 787 dreamliner is in production, but does reflect work due to increased production of the Boeing 737 and 777 Jetliners.”

About M Line Holdings, Inc.

M Line Holdings, Inc. (formerly Gateway International Holdings, Inc.) is currently a reporting company under the Securities and Exchange Act of 1934, as amended, with approximately 600 shareholders and two operating subsidiaries, Eran Engineering, Inc. and E. M. Tool Co., Inc. dba Elite Machine Tool. (For more information see our web site www.mlineholdings.com)

Forward Looking Statements

This news release contains certain “forward-looking statements.” Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.

Business Wire

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