Published:
DAC Technologies Announces a 43% Sales Increase for the Year 2005
DAC Technologies (OTC BB: DAAT) today
announced net sales for the year ended December 31, 2005 of $13,351,262 as
compared to $9,352,353 for 2004. This is an increase of $3,998,909, or 43%.
David A. Collins, Chairman and CEO, stated, "While a 43% sales increase is
quite good, we feel we should have achieved our goal of $14,000,000 in
annual sales for 2005. December sales were $1,834,070 versus $1,750,070
for 2004. The major reason December sales were not as high as we
anticipated was due to the fact that reorders from Wal-Mart permanent
module items were not in line with retail sales at Wal-Mart, as they had
been in previous months. Retail sales of DAC items at Wal-Mart for the
month of December were up 45% over 2004, yet reorders were only up 6%.
This problem was eliminated in January by DAC working closely with
the Wal-Mart rebuyer, turning in reports twice weekly, to make sure
reorders are sufficient to maintain store instock at a 97% to 98% level.
We still expect 2005 earnings to increase significantly over 2004."
Collins also stated, "As we look toward 2006 and beyond, we expect sales
and profits to grow in the double digit range. DAC continues to develop
new products, such as gun cases containing built-in cleaning kits, new
safes, a new game processing kit, new camo Sportsmans lighters, and
additional gun cleaning kits. The Company has also hired an engineering
firm to try and develop a universal mounting bracket and winch for ATVs.
The Company has started a direct import program, and has started doing
private label programs for retailers, catalog companies and gun
manufacturers. The Company will be attending and introducing new products
at the annual SHOT Show in Las Vegas, February 9th through the 12th. This
is the industry's largest trade show. The SHOT Show, plus determining what
new items will be purchased for the fall season, will enable us to give
further guidance on 2006, sometime in the March/April time frame as was
done in 2005."
Collins further stated, "Our GunMaster line of gun cleaning kits continue
to increase its market share, and features of our kits are unique to the
industry. The Company protects its intellectual property through the
filing of patents. Our patent attorneys have advised us that a patent and
claims have been allowed by the United States Patent Office on features of
our gun cleaning kits and will be issued in the next few months. In
addition, the Company has additional patent filings pending with the patent
office."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of
high quality, reasonably priced security safes, gunlocks, gun cleaning kits
and security products, as well as accessory items for the sporting goods
market. DAC distributes its products through mass merchandisers such as
Wal-Mart and Kmart, and sporting goods retailers and distributors such as
Dick's, Big Five, Cabela's, Acusport, Jerry's, RSR and others. DAC also
provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage,
Marlin and Taurus, as well as others. Also, DAC's products are distributed
through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for
forward-looking statements. Certain information included in this press
release (as well as information included in written statements to be made)
contain statements that are forward looking, such as those relating to
consummation of the transaction, anticipated future revenue of the
Company's and success of current public offerings. Such forward-looking
information involves important risks and uncertainties that could
significantly affect anticipated results in the future and, accordingly,
such results may differ materially from those expressed in any
forward-looking statements.
Distributed by Market Wire
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Tags: ,Government:Security(lawenforcement,homel and etc), ProfessionalServices:Purchasing, Retail:ConsumerInterest, ,AR,LITTLE ROCK, AR
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