Mile Marker International, Inc. Announces Record First Quarter 2004 Results

[Fl Mile Marker Intl via BizWire]

Mile Marker International, Inc. Announces Record First Quarter 2004 Results; 163% Increased Sales, 377% Increased Net Income, 500% Increased EPS
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POMPANO BEACH, Fla.--(BUSINESS WIRE)--April 29, 2004--Mile Marker
International, Inc. (OTCBB:MMRK), a specialty vehicle parts
distributor, today announced a 163% increase in its sales revenues, a
377% increase in its net income and a 500% increase in its earnings
per share for the three months ended March 31, 2004 compared to the
same quarterly period in 2003.
In its Form 10-QSB filing with the U.S. Securities and Exchange
Commission today, Mile Marker International, Inc. announced that it
earned net income of $1,144,652, or $0.12 per common share, for the
first fiscal quarter ended March 31, 2004, based on sales revenues of
$7,004,292. Sales revenues were 163% greater than sales revenues of
$2,666,123 reported for the first quarter of 2003, net income was 377%
greater than net income of $240,084 reported for the same period of
2003 and earnings per share were 500% greater than the $0.02 reported
for the first quarter of 2003. The Company's first quarter 2004
results were also considerably better than its results during the
fourth quarter of 2003 when sales revenues were $4,649,972 and net
income was $568,863.
Richard Aho, President and CEO of Mile Marker International, Inc.,
said: "Our outstanding performance in the first quarter of this year
was aided considerably by a 199% increase in our commercial electric
winch sales over the first quarter of 2003. Our largest sales increase
resulted from deliveries of our patented hydraulic winches to the U.S.
Army under our long-term military contract. We expect the performance
momentum of our first quarter to continue into 2004 with the continued
success of our winch product lines, and we anticipate that our 2004
results will be substantially better than our 2003 results. We
previously reported net income of $1,316,427, or $0.13 per common
share, for the full year in 2003."
Mile Marker International, Inc., through its wholly-owned
subsidiary, Mile Marker, Inc., is a manufacturer and distributor of
specialized vehicle parts primarily for the four-wheel drive
utility/recreational and military vehicle markets. The Company's
unique hydraulic winch has received overwhelming acceptance by the
U.S. military for installation on new and retrofitted Humvee vehicles.
Richard Aho, President and CEO of Mile Marker International, Inc.,
said: "As we previously indicated, our outstanding performance in the
first quarter of this year was aided considerably by deliveries of our
unique hydraulic winches to the U.S. Army under our long-term military
contract. At the same time, our electric winch sales increased by
nearly 200% over the first quarter of 2003. We expect the performance
momentum of our first quarter to continue into 2004 with the continued
success of our winch product lines, and we anticipate that our 2004
results will be substantially better than our 2003 results. We
previously reported net income of $1,316,427, or $0.13 per common
share, for the full year in 2003."