SOURCE: Heartland, Inc.

April 27, 2011 13:39 ET

Heartland, Incorporated Discussion of 2010

MIDDLESBORO, KY--(Marketwire - Apr 27, 2011) - Heartland, Inc. (PINKSHEETS: HTLJ) is a diversified company with businesses in steel distribution, fabricated metals and petroleum sales.

Heartland, Inc. ("Heartland") continues to try and position itself for future growth. While profitability and free cash flow did not meet expectations over the past year, Heartland was able to post growth in top-line revenue of approximately 8.8% in 2010 over 2009 levels. This increase allowed Heartland to recognize revenue in excess of one hundred million dollars ($100M) for the year which ended December 31, 2010. The full financial results, as well as other financial disclosures, are available through the SEC website at (PINKSHEETS: HTLJ).

During the current challenging business environment, Heartland's Board of Directors and Management Team have implemented a cash conserving budget in order to eliminate some of the non-essential cash expenditures which are not directly tied to daily operations. Along with careful cash management, the Company is also attempting to make all decisions based on long-term objectives rather than concentrating on short-term gains. Together, these two strategies should help the Company in its belief that the best way to increase substantive shareholder value is to have solid positive cash flowing subsidiaries over the long run.

Heartland will continue to focus on building shareholder value by growing our diverse portfolio over the long run and making decisions based on these goals rather than short term decisions leading to the feelings of short term gains without any substance.

Safe Harbor Statement:

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, adverse economic conditions, intense competition, lack of meaningful research results, inadequate capital, termination of contacts or agreements, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products or programs and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Contact
    Terry L. Lee
    Ph. 606-248-7323