TUSTIN, Calif., Jan. 21, 2014 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. ( MLHC ) ("M Line" or the "Company"), a leading provider of products, assemblies and services to the precision high tech segment of both the aerospace and medical industries as well as a seller of high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment, today announced Company revenues of $5,806,080 for the six months ended December 31, 2013 as compared to $4,421,473 for the six months ended December 31, 2012, representing a 31% increase. Profits are estimated to be $307,000 compared to a loss of $(742,089) for the six months ended December 31, 2012, representing a $1,049,089 improvement.
Bruce Barren, CEO of M Line, commented, "These results validate our turnaround. We continue to make good progress towards meeting our forecast of $15 million in revenue and $1,500,000 in profit for fiscal 2014. Our focus remains on building shareholder value and our continued growth supports these efforts."
Tony Anish, COO of M Line, added, "Our lack of working capital has hampered our efforts to further increase revenues and achieve greater profits, but even with those difficulties, we have executed this turnaround. We are excited about the rest of the year. The market is well positioned for our Company products and we expect it to show a positive trend over the next 5-10 years."
