SOURCE: National Automation Services, Inc.

September 16, 2008 07:00 ET

National Automation Services, Inc. -- Operations Update/S-1 Filing to SEC

LAS VEGAS, NV--(Marketwire - September 16, 2008) - National Automation Services, Inc. (www.n-a-s-inc.com) (PINKSHEETS: NASV), a public holding company for regional automation control companies, today announces its current operations status update.

SEC Filing -- The Company announced that the filing of the S-1 is nearing completion while Management is working diligently to finalize the audit and interim reviews. The Board of Directors and our Management Team have been working hand in hand to ensure the filing of our registration statement is completed, which is a major step in becoming a fully reporting company. This will move the Company off of the Pink Sheets to a higher trading venue. Management will continue in its concerted effort and will remain dedicated to preparing the initial public filing, which is highly anticipated by the Company, Investors, and Shareholders.

Operations -- The Companies consolidated receivables for September has topped the $1 million mark, and the backlog of work in progress is growing as new projects are awarded. The current backlog is expected to top the $9 million mark with several contract awards to NAS subsidiaries which are pending but expected within the next 30 days. Current contract proposal values have topped $22 million, and this number continues to grow.

Bill Strachan, Chairman of the Board of NAS commenting on today's announcement, stated: "The Company is poised for great success. We have all worked hard to get to where we are now. Our Management Team has had many tasks and obstacles to overcome during the past nine months, and the Board is proud of their achievements to date. While the delay in getting our main objectives completed this year has impacted timing, our main focus of building this Company into a nationwide contender has not faltered. Once the S-1 filing is completed, we anticipate that this will open doors and present opportunities that were unavailable to us as a non-reporting company. We want to thank everyone involved for showing patience as we strive to achieve our objectives."

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ABOUT NATIONAL AUTOMATION SERVICES, INC.

From Hand Production to Automation

Before the Industrial Revolution, virtually all goods were made by hand. With the Industrial boom of the 1900s, the automation and controls industry was born to improve the quality and reduce the costs of tedious, repetitive tasks in the industrial plants.

Immediately after World War II, computers were born, almost entirely for scientific purposes. By the early '60s, computers began to make their way rapidly into process control and production. Automated assembly lines took on more and more tasks, allowing for an increasing number of automated processes and adjustments. By eliminating tedious tasks usually performed by hand, the owners of a plant realized higher quality and more output which improved not only quality but competitiveness as well.

Today's Markets

Automation touches our lives without notice, from the food we eat, to the clothes we wear, to the building materials we use; and almost anything else we consume or come in contact with.

Accordingly, the markets of National Automation Services, Inc. are vast. They include waste/water treatment, airport security systems, bottling plants, power plants, metals, mining, breweries, food processing, tire making, textiles, plastics, and virtually all production activities.

Although there are a handful of very large automation and controls companies, the industry is highly fragmented with about 286 companies of modest size in the U.S. These companies are privately owned, local in nature, and total approximately $32 billion in annual gross sales.

A handful of larger automation companies dominate the market as they offer national, as well as worldwide, support for the Corporate and Government clients they serve. In total the automation industry in the U.S. exceeds the $400 billion mark each year, largely serviced by this handful of firms.

Where We Are Going

NAS intends to build a nationwide company through acquisitions and internal growth in this fragmented market. We believe that our growing company will retain healthy margins and produce attractive increases in earnings per share during the period of this Plan. Our estimate is that we will immediately produce cost savings of 12-15% on each acquisition, thereby driving consolidated EBITDA and earnings per share. Furthermore, NAS, by utilizing the expertise of the group, the sharing of national contracts, and proven revenue enhancement techniques, has the goal of doubling the gross sales of each acquisition in the first 12 months of the date of each acquisition.

The Company currently focuses on:

Industrial Automation and Control. NAS has an experienced staff of electrical and control engineers, as well as project managers, with experience in industrial automation and controls. The Company's business is currently focused in Nevada, Arizona, and Utah, but it intends to expand through internal growth and acquisitions throughout the U.S. during 2008.

Automation Manufacturing. The Company is a certified Underwriters Laboratories Panel fabrication facility. This nationally-recognized regulatory body provides NAS with significant marketplace credibility for custom control panel assembly and fabrication to its clients.

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 sustainability of recent growth rates in the automation controls industry, the positioning of NAS in the market, the ability to integrate acquired companies and technology, the ability to retain key employees, the ability to successfully combine product offerings and customer acceptance of combined products, general market conditions, fluctuations in currency exchange rates, 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.

Contact Information

  • CONTACT INFORMATION:
    National Automation Services, Inc.
    Bob Chance
    2053 Pabco
    Henderson, NV 89011
    (702) 642-7720