TUSTIN, Calif., April 30, 2014 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTCQB: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 that Company revenues continue to increase and are up 25% for the nine months ended March 31, 2014 to $8,426,251 as compared to $6,741,292 for the nine months ended March 31, 2013. Profits are estimated to be $468,942 compared to a loss of $(1,357,501) for the nine months ended March 31, 2013, representing a $1,826,443 improvement.
Bruce Barren, CEO of M Line, commented, "These results continue to validate our turnaround. We are making good progress and expect to make our profit forecast of $1,500,000. We continue to focus on growing the business and building shareholder value."
Tony Anish, COO of M Line, added, "We have concentrated on growing our business from both new and our current customers. The impact of this is reflected in our continued positive results."
Anish continued, "Negotiations with prospective acquisitions are ongoing and we hope to be able to finalize some of the negotiations in the very near future."
About M Line Holdings, Inc.
M Line Holdings, Inc. (OTCQB:MLHC). M Line provides products and services to the precision high tech segment of both the aerospace and medical industries as well as selling high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment. Key customers of our group include Panasonic Avionics, UTC Aerospace Systems, Beckman Coulter, BE Aerospace and SIE (Structural Integrity Engineering, Inc.) . The Company is headquartered in Tustin, California. For more information see our website at http://www.mlineholdings.com/
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This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
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Investor Relations: Howard Gostrand 305.918.7000
