SOURCE: National Automation Services, Inc.

November 06, 2007 09:00 ET

National Automation Services' Wholly Owned Subsidiary Awarded Las Vegas Valley Water District Contract

Intuitive Systems Solutions Awarded Contract to Upgrade Controls at 46 Pumping and RTU Stations; Company Values the Contract at $46,000; Pending Contracts With the LVVWD Total Over $600,000

LAS VEGAS, NV--(Marketwire - November 6, 2007) - National Automation Services, Inc. (PINKSHEETS: NASV) (www.n-a-s-inc.com), and its wholly owned subsidiary, Intuitive Systems Solutions, Inc. ("ISS") (www.isscontrols.com), are pleased to announce that ISS has been awarded a contract from Las Vegas Valley Water District ("LVVWD") to upgrade the controls at 46 pump and RTU Stations across southern Nevada. The project consists of reprogramming and quality control of all the automation systems at these stations. The total project price is $42,000.00 with a contemplated 60% profit margin.

Robert Chance, CEO of NASV, in describing the latest contract, stated: "We have established ourselves as a preferred contractor for Las Vegas Valley Water District for this and other automation projects being awarded by the Water District. This award follows a series of automation projects already completed for LVVWD by ISS, and with the growth of the District, we contemplate the award of many more. At the present time, ISS has over $600,000 in projects proposed to LVVWD, which demonstrates the level of confidence the District has in our services. Municipal water is a key target market for NASV and our subsidiaries. Once we have completed our acquisition of several automation companies across the U.S., we will be developing a company-wide municipal division to service water districts and other municipal projects across the United States."

Recently, ISS was awarded a contract from the Virgin Valley Water District as it initiates construction of 5 Arsenic Processing Plants in Southern Nevada valued at $1,022,000, and is awaiting award of an automation project from the Southwest Water Reclamation Facility, which is valued at $1,300,000.00.

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ABOUT NATIONAL AUTOMATION SERVICES, INC.

National Automation Services, Inc. is a public holding company for specialized automation control companies located in the southwestern United States. The Company presently owns 100% of the stock in Intuitive System Solutions Inc. ("ISS") of Las Vegas, Nevada. Since its formation in 2001, ISS has positioned itself as a leading system integrator and UL Certified panel facility. The Company has evolved to focus on two distinct lines of business. Each of these lines is linked to the foundation of the business -- integrated and automated systems controls.

The Company currently focuses on:

Industrial Automation and Control. ISS has an experienced staff of electrical and control engineers, as well as project managers, with over 80 years combined experience in industrial automation and controls. The Company's business is currently focused in Nevada, Arizona and Utah, but it intends to expand through internal growth and acquisitions into California, Texas and New Mexico and other western states during 2007 and 2008. From this segment of the business, ISS is projected to realize $4 million of gross revenues in 2007 and increase the gross revenues from this division to over $21 million in the next two years. As an example of the type of services provided by ISS in this division, a major national airline utilizes ISS extensively for automation projects at Las Vegas McCarren International Airport.

Automation Manufacturing. The Company is a certified Underwriters Laboratories Panel fabrication facility. This nationally recognized regulatory body provides ISS with significant marketplace credibility for custom control panel assembly and fabrication to its clients. From this segment of the business, ISS is projected to realize $1 million of gross revenues in 2007 and increase the gross revenues from this division to over $4 million in the next two years.

NAS projects achieving gross revenues in 2007 of $4,544,094, with a net pre-tax income of $1,781,688. Through an acquisition strategy that encompasses a minimum of one major acquisition per quarter, as well as through internal growth of ISS, due to its recently granted increase in licensing capacity to $2 million per project, the Company should increase gross revenues to $25,780,972 in 2008, with net pre-tax income of $16,190,755. With a total of 40 million shares outstanding the management of the Company projects earnings per share of $0.03 in 2007 and $0.27 in 2008.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the automation controls industry; the positioning of NAS in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether NAS can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.

Contact Information

  • CONTACT INFORMATION

    National Automation Services, Inc.
    Bob Chance
    2053 Pabco
    Henderson, NV, 89011
    (702) 642-7720

    Investor Relations Contact:
    David Donlin
    The Cervelle Group
    238 N. Westmonte Drive
    Suite 210
    Altamonte Springs, FL 32714
    (407) 475 9966