Contact: Porter, LeVay & Rose, Inc.
Andrew Berlin, VP – Investor Relations
Jeffrey Myhre, VP – Editorial
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Contact: Porter, LeVay & Rose, Inc. Andrew Berlin, VP – Investor Relations Jeffrey Myhre, VP – Editorial |
Seven Penn Plaza
▪ New York, NY 10001 ▪ 212-564-4700 ▪ FAX 212-244-3075 ▪ www.plrinvest.com ▪ plrmail@plrinvest.comINTERNATIONAL AMERICAN TECHNOLOGIES, INC.
PROVIDES 1ST QUARTER OUTLOOK, BACKLOG OF ORDERS
AND UPDATED REVENUE GUIDANCE
HOUSTON, TEXAS – January 16, 2007 -- International American Technologies, Inc. (OTC BB: IMTG),
a subsidiary of American International Industries, Inc. (OTC BB: AMIN), announces that its wholly-owned subsidiary, Hammonds Technical Services Inc. (Hammonds) received a purchase order for a complex fuel handling system including fuel additive systems for the Al Dhafra Air Base, in United Arab Emirates (UAE). Hammonds will initially recognize $960,000 in revenues during the first quarter of 2007 and is expected to recognize a total of approximately $2,700,000 related to this project for the 2007 fiscal year.
Carl Hammonds, President of Hammonds, stated "our fuel additive systems are incorporated into a turn-key solution for a fuel dispensing system, which is jointly marketed by Hammonds and Cimmaron International Corporation. Cimmaron is also marketing the Hammonds-Cimmaron pre-packaged fuel additive dispensing systems to new, as well as expanded, aviation projects currently underway in the Middle East". In addition to the Al Dhafra Air Base order, Mr. Hammonds announced that "these same Hammonds-Cimmaron systems are expected to be specified at a new UAE Air Base in Al-Minhad, having an estimated value exceeding $1,824,000 and I believe that Hammonds will continue to receive large orders for these advanced projects that will result in increased revenues from Hammonds’ fuel additive systems for projects in the UAE and elsewhere in the region. This part of the world is undergoing a massive expansion and overhaul of its aviation infrastructure serving military, commercial and general aviation. Our involvement in this project is a result of Hammonds’ long standing status as a supplier to U.S. militaries for fuel blending systems. We will be supplying our standard JP-8 injector as part of the package".
To support its orders for bases in the UAE, Hammonds will be installing a new jet fuel testing facility at its plant in Houston, Texas, that will be utilized in certification of these new additive systems. "The new test capabilities will greatly enhance our other fuel related business, by facilitating our ability to test our additive systems in jet fuel. We are pleased to begin 2007 with this additional backlog of business from our additive injector division. This order, along with several other known activities will account for more than half of our 2007 projections, not withstanding our normal additive system business", stated Mr. Hammonds.
Further, Mr. Hammonds reported that "at present, Hammonds has a backlog of approximately $2,645,000 for its additive and injector systems, omni directional vehicles and water treatment solutions. Hammonds estimates first quarter of 2007 revenues approaching $3,000,000 or an increase of over 200% from the same period of the previous year, all of which will depend on startup of anticipated new production equipment currently planned. Our deliveries to UAE customers are influenced by testing and inspection schedules dictated by our customers".
For additional information, please visit Hammond’s web site www.hammondscos.com and for IMTG, go to www.americanii.com for the most recent 10-KSB and 10-QSB filings.
Private Securities Litigation Reform Act Safe Harbor Statement:
The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries’ operations include without limitations, continued value of our real estate portfolio, the strength of the real estate market in Houston, Texas, as a whole, continued acceptance of the Company’s products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any potential acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis, judgment, belief or expectation only as of the date hereof.