SOURCE: NAC Global Technologies

NAC Global Technologies

November 23, 2015 08:00 ET

NAC Global Technologies Reports Record Quarter

JACKSONVILLE, FL--(Marketwired - Nov 23, 2015) - NAC Global Technologies (OTCQB: NACG) reported record quarterly revenues of $254,598, a 30% increase over the prior quarter and 115% over the same period last year. YTD revenues were $574,564. Net quarterly operating loss decreased from $140,827 to $46,615 a 66% improvement and an 88% improvement over the same period last year. New customers include an international helicopter manufacturer integrating NAC drives into landing gear actuators. A three year production contract is anticipated in the coming months valued at approximately $1,000,000 over the three year term and is expected to extend at least ten years. Vincent Genovese, NAC CEO, said, "We believe a shift is happening, and it's happening now. We believe harmonic gearing usage is going to explode throughout industry soon. For centuries, conventional gears were everywhere, but we see a global shift occurring with harmonic gearing replacing conventional gears. Newly designed machines, robots, and production lines need the precision and small size of harmonic gearing. We foresaw this shift back in 2007 and positioned ourselves in front of the curve. Now, our incoming inquiries include robotic drives in Europe valued about $18,000,000 annually, $4,000,000 robotic application in Korea, and we have an identified sales pipeline exceeding $100,000,000. With an addressable market exceeding 1 billion dollars today, our near term revenue target is $25,000,000 and medium term exceeds $75,000,000. Our opportunity lies in ramping up and addressing the existing and rapidly expanding need for our technology."

About NAC Global Technologies
NAC Global Technologies is a development and manufacturing company. Its harmonic gearing technology is utilized in the automation, robotics, and defense industries, and NAC is advancing its drives into emerging technologies including advanced robotics and clean energy. Additionally, NAC is engaged in the commercialization of a new non-hazardous, environmentally friendly fuel cells suitable for use in aircraft and portable power. The Company is headquartered in Jacksonville, FL.

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.

Contact Information

  • Contact:
    Vincent Genovese