SOURCE: New Century Companies, Inc.

March 22, 2007 08:30 ET

New Century Companies, Inc. Forecasts 43% Gain in Orders for 2007

Machine-Tool Firm Cites Growing Customer Base and Demand Driven by Manufacturing of Super-Size Jets

LOS ANGELES, CA -- (MARKET WIRE) -- March 22, 2007 -- New Century Companies, Inc. (OTCBB: NCNC), a leading manufacturer and re-manufacturer of machine tools, today said it expects customer orders in 2007 to total at least $15 million, or 43% more than the approximately $10.5 million it recorded for all of 2006.

The Company based this forecast on the rising order volume for its remanufactured products, particularly its computer-numerically-controlled vertical turning centers (CNC VTCs). During the first two months of 2007, it received $3.2 million in new orders for six VTCs and one large CNC horizontal lathe from customers in aerospace, energy and defense. This followed a strong fourth quarter of 2006, during which New Century recorded $4.5 million in orders for VTCs.

"Based on the run rate of orders in January and February of this year, we feel confident projecting a revenue gain this year of more than 40% over 2006," said David Duquette, President and CEO of New Century. "Our diversified mix of customers, ranging across the sectors from energy and construction to transportation and defense, puts us in a strong position to benefit from the continued overall growth of the economy. We are getting an extra boost from the demand for large VTCs to produce parts for the next generation of jet engines. And even if economic growth slows somewhat, our low-cost remanufacturing model will give us an advantage with increasingly cost-conscious potential customers."

New Century said its order growth is being driven by general economic growth and by two factors in particular. One is its widening customer base -- it estimates that more than 300 of its machines are now in operation -- leading to repeat business and referrals. One customer that bought two New Century VTCs in 2006 ordered two more early in 2007. The other factor is the demand for very large turning machines to make components for the massive jet engines used on the Airbus A380 and the Boeing 787 Dreamliner. Four of the six VTCs ordered so far this year will be used in producing jet engine parts.

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About New Century Cos.

New Century Companies, Inc. is one of the leading U.S.-based makers of machine tools, primarily vertical boring mills and large lathes such as vertical turning centers (VTCs). It specializes in re-manufacturing, starting with existing major castings and fitting them with state-of-the-art, computer-controlled equipment. These products generally cost 40% to 60% less to make than new ones. New Century passes these savings on to its customers, which include such leading manufacturers as General Electric Co., General Dynamics Corp., Siemens AG and Gardner Denver. New Century machines are used to manufacture jet engine components, airplane landing gear parts, power generation equipment, oil and gas production components and construction materials, to name just a few applications. New Century's production facility is in Santa Fe Springs, Calif.

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Forward-looking statement: Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions and other risks detailed from time to time in the Company's ongoing quarterly filings, annual information form, and annual reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

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