KENOSHA, WI--(Marketwired - Apr 10, 2013) - Pacific Sands, Inc. (
"We believe our increased and very targeted investments in manufacturing and additional promotion during the last several quarters are producing positive results in driving and supporting sales," said Michael Michie, President and CEO. "In prior years, the capital to support the company's accelerated sales growth came from the issuance of additional shares of common stock. With the company on the threshold of profitable operations, the policy going forward has been to restrict new share issuance to a minimum."
Michie noted that for the first nine months of fiscal 2013, only 683,625 net new shares were sold, or about a 1% dilution from the June 30, 2012 fiscal year end. The company is currently seeking a bank line of credit to support future sales growth. With a backlog of unfilled sales from the third quarter and increased sales levels from existing customers in the first week of the new quarter, the company believes fiscal fourth quarter could produce another quarterly sales record. Sales for the fiscal year ending June 30, 2013 are expected to be double the revenue generated in the fiscal year ended June 30, 2010.
"We are very optimistic that the work accomplished in the past several years to expand capacity, significantly reduce debt, and build sales volume has positioned Pacific Sands for continued revenue growth and to achieve consistent profitability in the near future," said Michie. "Our products continue to meet with success and have been well-received by the trade and by end-users. We have structured our manufacturing to be very scalable, so we are confident in our ability to efficiently and cost-effectively meet increased future demand."
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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