SOURCE: NAC Global Technologies

NAC Global Technologies

August 19, 2015 20:37 ET

NAC Global Technologies Quarterly Earnings Report 73% Revenue Increase

JACKSONVILLE, FL--(Marketwired - Aug 19, 2015) - NAC Global Technologies (OTCQB: NACG) June 30, 2015 10-Q filing today reported a 73% revenue increase over the prior year and expected strong demand for its HGT drives. The company reports adoption and demand in multiple market segments including new original equipment manufacturer ("OEM") sales with anticipated recurring revenues in the semi-conductor, aerospace, machine tool, printing, security/defense, and the robotics markets. New applications of its harmonic gearing technology spanned North America, Asia, Europe and South America.

Mr. Vincent Genovese, Chairman and CEO of NAC, said, "NAC is experiencing accelerating demand, and we attribute that due to the need for our technology and the global brand equity we have created. New customer applications range from printing press drives to aerospace aiming systems on four continents. Revenues for the three months ended June 30, 2015 were $196,885, an increase of 73% over the prior year and 60% over the prior quarter. This uptick is mostly attributed to early customer adoption, not production. Our expectation is these applications will translate into revenues over the next six to nine months as customers integrate our HGT drives into their production plans. Gross margins improved to 31% vs 27% in the prior quarter and are expected to further increase as revenues increase due to the economies of scale and reduced concentrations. Our operating loss in Q2 decreased by 61% to ($140,827). We announced in May the hiring of 6 regional sales managers; and as anticipated, our incoming inquires continue to increase. Our sales pipeline now includes high volume applications, particularly in the robotics and machine tool markets from leading global manufacturers. We estimate our immediate addressable market exceeds $1.6 billion. Having only one primary competitor and a validated catalog of product, we believe we are especially well positioned to execute on that market opportunity." Full report: http://www.nacglobaltechnologies.com/sec-fillings.html

About NAC Global Technologies

NAC Global Technologies is a development and manufacturing company. Its platform harmonic gearing technology is utilized in the automation, robotics, and the defense industries, and the company is engaged in application of its drives in emerging technologies including advanced robotics and clean energy. In addition to this HGT product line, NAC is engaged in the commercialization of a new non-hazardous, non-volatile, environmentally friendly fuel cells suitable for use in aircraft and portable power.

The Company has its corporate headquarters in Jacksonville, FL, and has one operating subsidiary, NAC Drive Systems Inc. NAC manufactures and warehouses products in Port Jervis, NY and in Beijing, China via a strategic partnership agreement with CTKM Beijing Harmonic Drive, Ltd., the national HGT supplier to the China Space Agency. More Information is available at: www.nacglobaltechnologies.com

Forward-looking Statements

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

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