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MARKETING WORLDWIDE REPORTS NET SALES UP
10.6% FOR FIRST QUARTER OF FY 2007
HOWELL, Mich.,
February, 2007 – Marketing Worldwide Corporation (MWW)
(MWWC.OB), a leader in car customization programs for major auto
manufacturers, today announced results for the Company’s First
Quarter of FY 2007, which ended December 31, 2006. (The Company’s
fiscal year end is September 30.)
Net sales for the period were $2,161,158,
an increase of $208,878 or 10.6%, compared to $1,952,280 for the
first quarter of FY2006. Management attributed the increase to higher
initial volume associated with the Toyota Camry Spoiler sales, the
new Camry Dual Exhaust system, and increased sales of the Matrix
component supply program directly to Toyota Motor Manufacturing
Canada (TMMC).
Gross margins for the first quarter 2007
increased to 29.9%, compared to 24% in the same quarter in 2006.
Management attributed the higher margins to new programs that have
been launched and continued material cost reductions that have been
implemented.
Operating income during the three months
ended December 31, 2006 rose to $63,274, an increase of $15,768
or 33.1%, compared to $47,506 for the same quarter in 2006.
The complete filing of Form 10QSB is available
at www.sec.gov.
James Marvin, CFO/COO, MWW, said, “We are off to an excellent
start in 2007, continuing the steady growth we experienced in 2006
and throughout the past 5 years. We are looking forward to the re-launch
of our Tacoma Aero package and the initial launch of several Tundra
accessory components, scheduled to begin for our Toyota clients
in March or April.”
The Company’s largest customers are
Southeast Toyota, Gulf States Toyota, Toyota Canada International
and Toyota Motor Manufacturing Company in Canada. During 2006, MWW
also began delivering first products to KIA Motors USA and has been
awarded an excellence award for “Most Valuable Supplier”
by KIA.
The Company plans to utilize its experience with the Toyota vehicle
processing centers and apply this proven business model to other
leading global automobile manufacturers. During 2007 MWW plans to
design, manufacture and deliver several new large products and to
expand its customer base, following the same successful strategy
it has applied in the past. MWW will continue to design and manufacture
innovative quality products for its customers and associate itself
early with automobile manufacturers that provide quality automobiles
and fast growing market share, sales and profits.
About Marketing Worldwide Corporation
Founded in 1999, MWW is a high quality, full-service OEM supplier
for the automotive industry. MWW designs, develops and manufactures
high quality (OE-grade) automotive accessory components for high-volume
sales directly to the major automobile processing centers at their
US entry ports and in Canada, for installation as either Port Installed
Options (PIO) or Dealer Installed Options (DIO) programs. The majority
of MWW’s products are currently being designed and manufactured
by MWW for Toyota and KIA passenger cars, SUVs and light trucks. MWW’s
corporate headquarters is in Howell, Michigan with support teams and
satellite offices operating from different parts of the US and Germany.
Please visit www.marketingworldwide.us (under construction) to see
the latest company news and filings and subscribe to the MWW newsletter,
or e-mail your questions to investorrelations@marketingworldwide.us.
Certain statements in this press release that
are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements may be identified by the use words such as
"anticipate," "believe," "expect," "future,"
"may," "will," "would," "should,"
"plan," "projected," "intend," and similar
expressions. Such forward-looking statements, involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. The Company's
future operating results are dependent upon many factors, including
but not limited to the Company's ability to: (i) obtain sufficient
capital or a strategic business arrangement to fund its expansion
plans; (ii) build the management and human resources and infrastructure
necessary to support the growth of its business; (iii) competitive
factors and developments beyond the Company's control; and (iv) other
risk factors discussed in the Company's periodic filings with the
Securities and Exchange Commission, which are available for review
at www.sec.gov under "Search for Company Filings."
Pursuant to a September 15, 2006 agreement, Consulting For Strategic
Growth1, Ltd. (“CFSG1”) provides Marketing Worldwide Corporation
with consulting, business advisory, investor relations, public relations
and corporate development services. Independent of CFSG1’s receipt
of cash compensation from MWW, CFSG1 may choose to purchase the company’s
common stock and thereafter liquidate those securities at any time
it deems appropriate to do so.
COMPANY CONTACT:
Rainer Poertner
Executive Vice President
Tel: 1-517-540-0045, x43
Fax: 1-517-540-0923
rpoertner@marketingworldwide.us
www.marketingworldwide.us |
INVESTOR RELATIONS:
Stanley Wunderlich, CEO
Consulting for Strategic Growth
Tel: 1-800-625-2236
Fax: 1-212-337-8089
info@cfsg1.com
www.cfsg1.com |
MEDIA RELATIONS
Daniel Stepanek
CFSG1
Tel: 1-212-896-1202
Fax: 1-212-697-0910
dstepanek@cfsg1.com |
MARKETING
WORLDWIDE CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF INCOME
FOR THE THREE MONTHS ENDED DECEMBER 31, 2006 AND 2005
(UNAUDITED)
2006
2005
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NET SALES
$ 2,161,158
$ 1,952,280
Cost of sales
1,514,178
1,476,968
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GROSS PROFIT
646,980
475,312
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OPERATING EXPENSES:
Selling, general
and administrative expenses
527,206
401,225
Financial Expense
56,500
26,581
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TOTAL OPERATING EXPENSES
583,706
427,806
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INCOME FROM OPERATIONS
63,274
47,506
Other Expenses/ Income 13,000
10
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INCOME BEFORE PROVISION FOR INCOME TAXES
50,274
47,516
Provision for income taxes
12,000
16,630
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Income before minority interest
38,274
30,886
Minority interest
5,999
3,569
------------ ------------
NET INCOME
$ 32,275
$ 27,317
============ ============
Earnings per share
Basic
$ 0.00
$ 0.00
============ ============
Diluted
$ 0.00
$ 0.00
============ ============
Weighted average common share outstanding
Basic
11,228,280 11,051,995
============
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Diluted
12,478,280 11,282,764
============ ============
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