SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

June 01, 2012 06:00 ET

National Automation Services, Inc. Announces Third New Acquisition

LAS VEGAS, NV--(Marketwire - Jun 1, 2012) - Automation Services, Inc. ("NAS") ( (OTCQB: NASV) (PINKSHEETS: NASV) today announced that they have entered into a Letter of Intent to purchase its third of several new acquisitions planned over the next 18 months.

The Bryan, Texas based Company signed an LOI to be purchased for a total of $12 million. This acquisition is estimated to add approximately $3 million in operating income to NAS' overall earnings.

Upon completion of due diligence, the Company plans to close escrow on the three Companies currently under LOI with NAS. We expect to begin closing procedures within the next quarter for all three acquisitions.

In the projection of closing these companies, NAS is projected to add approximately $17 million in gross revenues and up to 6 million in operating income. Jeremy Briggs, Principal Financial Officer of NAS, stated, "I am very pleased with the progress performed by our Acquisition Team. We have been working diligently for the past 9 months to secure the first three acquisitions. With additional prospective companies still in line to be reviewed, I am excited about our growth. I would like to thank my accounting staff on their continued work on our required SEC report filings while supporting the Acquisition Team's ongoing efforts."

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 ability to obtain the additional working capital which NAS needs; the ability to locate suitable companies to acquire and then integrate such acquired companies, if any; the ability to retain key employees; the ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; 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. References herein to "NAS," "National Automation Services," "the Company," "we," "our" and similar words or phrases are references to National Automation Services, Inc., unless the context otherwise requires.

Contact Information

  • Contact Information:
    National Automation Services, Inc.
    Marketing & Sales
    (877) 871-6400