KENOSHA, WI--(Marketwired - Oct 14, 2013) - Pacific Sands, Inc. (
The company expects to report net income of $4,761 (unaudited) on sales of $537,000 in its fiscal first quarter. In fiscal fourth quarter 2013, Pacific Sands reported the largest quarterly profit in its history in fiscal fourth quarter 2013, and sales of $600,000. Operating income in fiscal first quarter is expected to be $14,982. Total assets at September 30, 2013 were $821,534, which included $308,044 of net receivables.
Michael Michie, President and CEO, commented: "We continued to experience steady quarter-to-quarter performance in sales, and entered our fiscal second quarter with approximately $175,000 in orders. While interest expense continues to have a significant impact on earnings, our balance sheet restructuring during the past year and half has reduced these costs compared with the past. Our margins are sound, our operating costs are stable, and we anticipate with continued revenue growth, we will be able to expand earnings in coming quarters."
About The Company
Pacific Sands, Inc. (www.pacificsands.biz) is a rapidly growing company that develops, markets and sells unique non-toxic, earth-, health- and child-friendly products for cleaning, personal hygiene, and water maintenance applications. The company's ecoone® Spa Treatment system earned a third place finish in the "Best Green Product" category at the International Pool and Spa show held November 2012 in New Orleans. In 2011, the company was recognized by a Milwaukee-based business publication as the fastest growing public company in Wisconsin. Wal-Mart's Innovation Network awarded one of the company's products the highest "Success Likelihood Score" ever granted in the program's 22-year history.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.
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President & CEO