CirTran Continues to Show and Grow Profits in Third Quarter Filing
SALT LAKE CITY, Nov. 20, 2013 -- CirTran Corporation (OTCBB: CIRC) has filed its Quarterly Report on Form 10-Q for the period ended September 30, 2013, with the company showing substantial and continued improvement in its bottom line.
For the nine months ended September 30, 2013, CirTran reported a net income of $1,070,340, a 142% improvement over the net loss of $2,540,462 for the same period in 2012. The return to profitability was achieved even as CirTran had a net loss of $192,526 for the three-month period ended September 30, 2013 which was a 65% improvement over the net loss of $546,879 reported for the same quarter in 2012.
Sales for the nine months ended September 30, 2013, were $2,623,204, up 65% over the $1,587,582 for the same period a year ago. Sales for the three months ended September 30 were flat, with CirTran reporting $658,381 as compared with $653,127 for the same period in 2012.
“After battling – and winning – in court six times over the first nine months of 2013, CirTran was happy to get back to our primary business of manufacturing and distributing Playboy Energy Drink,” said Iehab J. Hawatmeh, the company’s founder, chairman and CEO. CirTran Beverage Corporation, a CirTran subsidiary, has partnered with Play Beverages, LLC, to distribute Playboy Energy Drink worldwide under a license from Playboy Enterprises since 2006.
“CirTran has worked hard to renew and build relationships with our international distributors after reduced sales and shipments earlier in the year as a result of confusion about the legalities,” he said. “We are regaining momentum and are moving full-speed ahead in the fourth quarter, with a profitable year in sight.”
About CirTran Corporation
Marking its 20th year in business, CirTran Corporation (www.cirtran.com) has evolved from its roots in the electronics industry to focus on manufacturing and marketing Playboy Energy Drink worldwide. In 2007, CirTran created its CirTran Beverage subsidiary, which partnered with Play Beverages LLC, to introduce and distribute Playboy Energy Drink a year later. CirTran also continues to maintain the capabilities of its previous core business in off-shore manufacturing of high-volume electronics, fitness equipment and household products for the multi-billion-dollar direct response industry.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. CirTran disclaims any obligation or intention to update any forward-looking statement.