SOMERSET, N.J., Sept. 7 /PRNewswire-FirstCall/ -- AWT, Inc. (Pink Sheets: AWTM), a distributor of state-of-the-art medical equipment to the healthcare industry, announced today an aggressive revenue growth and acquisition strategy for the next 36 months. "With the new management team and board of directors in place, the company felt it necessary to let its shareholders know of the future of their investments," stated Christopher J. Neill, CEO. Continuing his statement, "Part of our Strategy is continually researching the market for new opportunities in acquisitions, new state-of- the-art equipment, new joint ventures, or simply increasing sales. Bringing these and additional areas of business together we feel will enhance shareholder value, and for the first third of our strategy, we have identified several acquisition targets for our focus."
The Company is presently in process of closing the first of several planned and in-process acquisitions. "As we finish this first acquisition and after we implement cost controls, AWT should show an approximate 30% increase in top line revenue and a 35% increase to the bottom line net income for this particular asset. That would mean a net of $202,500 for the acquisition which would more than cover the cost of it in the first year by approximately two fold", commented Mr. Neill, CEO. Final terms are currently being negotiated and the Company hopes to close within 30 days.
"AWT's revenue growth strategy for the healthcare industry overall is about reducing costs while keeping the margins high. The premise of having a core infrastructure of state-of-the-art technologies, methodologies, or processes, is to reduce costs for the clients you are servicing. By combining both core and associated technology and processes your overall cost reduces, allowing you to service clients at a lower cost to them and a higher margin to the Company," stated Ravi Saini, Chairman of the Board.
AWT expects to add 4 more executives and up to 20 new personnel over the next 12 months of its expansion strategy. Sources at the Company have said the addition of Mr. Donald Malter as Chief Financial Officer, brings in his 19 years of business, the experience of not only Finance and Publishing to the Company, but also the experience of Venture Enterprise. Mr. Peter Murray brings 23 years of top level sales in durable medical equipment and a outstanding reputation within the healthcare industry in the Northeast. "These executives are extraordinary professionals in their respective areas of expertise," said Mr. Saini. "We are pleased to welcome their contributions to our company with these positions," he added.
The Company believes its Strategic build-out as expressed herein will be executed and achieved but understands delays in business and execution of specific strategies and or contracts or negotiations occur.
This press release consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results could differ materially from those indicated by such forward looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events or otherwise.
|SOURCE AWT, Inc.|
Copyright©2007 PR Newswire.
All rights reserved