PMFI news out this AM! Probe Manufacturing Rep

PMFI news out this AM!

Probe Manufacturing Reports 9 Consecutive Quarters of Revenue

Probe Manufacturing, Inc., (OTC QB : PMFI), a global electronics design & manufacturing services company reports 42% revenue growth for its first quarter of 2012 and 9 consecutive quarters of growth and profitability.

During the first quarter of 2012, our revenue was $1,285,868 compared to $906,313 for the same period in 2011, which was related to increased demand for our services within existing accounts and an addition of six new customers in the latter half of 2011. In addition, our operating income was $57,053 compared to $41,105 for the same period in 2011. Our gross profits were 35% in the first quarter of 2012 compared to 29% in the same period in 2011.

Kam Mahdi, CEO of Probe stated, “We continue our transition towards a more stable, predictable, and diversified portfolio that generates increased operating margins. Furthermore, the company remains committed to driving shareholder value by reinvesting in the business while minimizing dilution to its capital stock, which is evidenced by the fact that we had 197,659,056 and 198,319,056 shares issued and outstanding as of March 31, 2011 and 2012, respectively (72% of which is subject to 144 'insider' resale restrictions and is not in the float).”

“Although Probe experienced overall lower profitability due to interest expenses associated with increased borrowing to support operational expansion, the company has maintained impressive top-line growth. The company currently pays an exorbitant 20%+ interest rate on borrowed capital from its asset based lender. Thus, we are aggressively pursuing a more equitable financing arrangement that will deliver more revenue to our bottom line,” said John Bennett, CFO of Probe.

About Probe Manufacturing, Inc.

Probe Manufacturing is a global electronics design & manufacturing services company providing innovators with business services through our factory in California as well as factories Worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe’s common stock is traded on the OTC Market QB under the symbol PMFI. Further information is available on Probe’s website: www.probeglobal.com.