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M Line Holdings, Inc. Announces Results for First quarter of 2011 Fiscal Year

Dépèche transmise le 11 janvier 2011 par Business Wire

M Line Holdings, Inc. Announces Results for First quarter of 2011 Fiscal Year

TUSTIN, Calif.--(BUSINESS WIRE)--M Line Holdings, Inc. (OTCBB: MLHC):

“I am delighted to announce these excellent results and the upward trends seen at both our subsidiaries. This bodes well for future growth and the prospects of a profitable year.”

Financial Results

M Line Holdings, Inc. (OTCBB: MLHC) (“M Line Holdings” or “the Company”) is pleased to announce that the Company greatly improved its results for the first quarter of the 2011 fiscal year as compared with the first quarter of 2010. The financial results for the quarter ending 9/30/2010 of fiscal year ended 6/30/2011 show a net loss of ($15,134) while having positive EBITDA of $119,882 as compared with losses of ($588,504) and negative EBITDA of ($463,886) for the first quarter of the 2010 fiscal year.

Turn Around

This represents an EBITDA improvement of over $584,000 from the comparable quarter last year and is a result of significant improvements the company has made in operations by reducing overhead and increasing margins. The Company expects these favorable trends to continue.

Trends Affecting our Business

The trends in the aerospace industry continue to be positive and we are confident that 2011 results will be significantly better than last year based on firm orders already in hand.

Forecast

The forecast for the Company for the year ended 6/30/2011 is positive with EBITDA for the year anticipated to be in excess of $600,000, with positive net income, compared to negative EBITDA of ($643,000) and a net loss of ($1,709,000) for the year ended 6/30/2010.

George Colin, CEO of M Line Holdings, Inc., stated, “I am delighted to announce these excellent results and the upward trends seen at both our subsidiaries. This bodes well for future growth and the prospects of a profitable year.”

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. (precision metal manufacturing for the aerospace and medical industries) and E. M. Tool Co., Inc. dba Elite Machine Tool (CNC machine sales).

M Line Holdings, Inc. is headquartered at 2672 Dow Avenue, Tustin, CA 92780.

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.