SOURCE: New Century Companies, Inc.

September 29, 2005 11:38 ET

New Century Companies to Achieve Better Than Expected Third Quarter Revenues and EPS

Company Announces $475,000 Order, Bringing Third Quarter Orders to Record $2.74 Million

LOS ANGELES, CA -- (MARKET WIRE) -- September 29, 2005 -- New Century Companies, Inc. (OTC BB: NCNC), a leading manufacturer of machine tools, today announced that it has received a $475,000 order for a large vertical turning center (VTC) from a Kansas-based company that specializes in the manufacturing and repairing of reciprocating engines and compressors.

Its total bookings from July through September of this year will represent the highest ever for any third quarter in the Company's history. As a result, the Company expects to achieve better than expected operating income and EPS for the third quarter ending September 30, 2005. This is particularly notable considering the second and third quarters are typically the slowest seasons for the Company's industry.

Added to the orders announced in August and earlier in September, this latest transaction brings the total bookings for the third quarter to over $2.74 million. All of the orders have been for VTCs -- large vertical lathes used in a wide range of manufacturing applications, including construction, oil and gas exploration and aerospace.

New Century CEO David Duquette said, "We're pleased to see that demand for our machine tools is continuing to grow, with no signs of letting up. We see several significant factors in the economy that should keep sales of large metal-working machines such as VTCs very robust. The recently enacted federal highway and energy bills will stimulate demand for machine tools, such as ours, used in the manufacturing of equipment for oil and gas production, power generation, and road and transit construction. Meanwhile, the construction industry is entering a new boom with the massive cleanup and reconstruction after hurricanes Katrina and Rita. This is expected to create additional need for our vertical turning centers."

Earlier in September, New Century received three VTC orders totaling approximately $1.21 million. During August, it announced three VTC orders totaling approximately $1.06 million.

About New Century Companies

New Century Companies, Inc. (OTC BB: NCNC) is one of the leading U.S.-based makers of machine tools, primarily vertical boring mills and large lathes such as vertical turning centers. It also assembles sound-wall modules made from Quilite®, a lightweight, graffiti-resistant alternative to concrete. In its machine-tool business, the Company 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. Quilite is used not only in freeway noise walls but in other sound-absorbing structures, including barriers at sports stadiums and electric transformers. New Century manufactures its machine tools and Quilite modules in Santa Fe Springs, Calif. Visit New Century's Web site at http://www.newcenturyinc.com

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.

Contact Information

  • Contact:

    New Century Companies, Inc.
    David Duquette, CEO
    562-906-8455