SOURCE: Luna Technologies International, Inc.

June 02, 2005 09:00 ET

Luna's High Growth and Better Margins Highlight Q1

KENT, WA -- (MARKET WIRE) -- June 2, 2005 -- Luna Technologies International, Inc. (OTC BB: LTII) announces results for the first quarter ended March 31, 2005, highlighting continued strong Sales growth, improvement in Gross Margins, and the reduction of General and Administrative expenses. The full financial statements for Quarter 1 can be found at www.sec.gov.

Sales for the first quarter increased by approximately $43,000 (33%) over the previous year. For the three months ended March 31, 2005, the Company reported sales of $174,453 as compared to $131,240 for the three months ended March 31, 2004 (All amounts in US dollars).

Gross Profit grew $51,000 (238%) to $87,198 over the same period of last year. This is due primarily to increased productivity and the realization of cost savings as a result of improved in-house capabilities. Gross Margin expanded to 50% of sales for the three months ended March 31, 2005, versus a Gross Margin of 28% of sales for the three months ended March 31, 2004.

The Net Loss for the first quarter decreased by approximately $17,000 (14%) over the previous year. For the three months ended March 31, 2005, the Company's net loss decreased to $109,670 as compared to a net loss of $127,033 for the three months ended March 31, 2004. The net loss in the first quarter of 2004 included an expense for stock based consulting in the amount of $42,500 that was not a recurring expense during the three months ended March 31, 2005.

Luna CEO Kimberly Landry commented, "The first quarter continues the excellent momentum we established in 2004 and we are pleased with the improvement in gross margin. We believe we can maintain a tight control on costs while growing revenue aggressively. We are extremely excited about the implementation of New York City Department of Buildings Local Law 26 in July of 2005. The mandating of the installation of photoluminescent emergency signage and wayfinding systems in all office buildings over 75 feet in height promises to further accelerate the demand for Luna's advanced products."

About Luna Technologies

Luna Technologies is a leading developer and manufacturer of modern high performance photoluminescent products. It is credited with the first commercially available Strontium Aluminate based products, the first photoluminescent Exit Sign to pass Underwriters Laboratories' tough 75 ft. visibility/legibility standard, as well as the first photoluminescent Exit Sign to be approved by the Energy Star program. From buildings of all types, to airplanes, trains and passenger ships, photoluminescent products are enhancing progressive life-safety systems. Luna Technologies is leading this initiative, from advising building code and standards organizations to assisting companies to integrate photoluminescent systems into their life-safety programs.

Cautionary Note Regarding Forward-Looking Statements and Risks

Some of the statements in this press release are forward-looking statements and as such are based on an assumed set of economic conditions and courses of action. These include statements that describe Luna Technologies' future plans, objectives or goals. There is a significant risk that actual results will vary, perhaps materially, from results projected depending on such factors as changes in general economic conditions and financial markets, changes in building codes, the timing and availability of financing, governmental and other approvals and other risk factors listed from time-to-time in Luna Technologies' Form 10-K and its other reports filed with the Securities and Exchange Commission. Luna Technologies disclaims any responsibility to update forward-looking statements made herein.

Contact Information

  • Contact Information
    Investor Relations: John Kuehne or Frank Quinby
    SmallCap Corporate Partners Inc. 1-866-380-2274
    Email: Email Contact
    Luna Technologies International, Inc. 1-604-526-5890
    Web: www.lunaplast.com