SOURCE: New Century Companies Inc.

October 28, 2005 08:30 ET

New Century Cos. Announces $950,000 in New Orders

Machine-Tool Firm Also Reports "Unusually High" Level of Quote Requests

LOS ANGELES, CA -- (MARKET WIRE) -- October 28, 2005 -- New Century Companies, Inc. (OTC BB: NCNC), a leading manufacturer and re-manufacturer of machine tools, today announced new orders totaling $950,000 for vertical turning centers (VTCs). The Company also reported that requested quotes -- key indicators of future business -- have been running at historically high levels since the beginning of September.

The latest orders follow $2.74 million in orders reported by New Century during August and September 2005. Revenue from the new orders will be recognized during the fourth quarter of 2005 and the first quarter of 2006.

One order totals $475,000 and is for a re-manufactured VTC, a large vertical lathe. The buyer (unnamed here for competitive reasons) is a California-based maker of turbine-based systems used in natural gas processing, petrochemicals and power recovery applications. Another order, valued at $360,000, is for a VTC to be used by an Indiana-based manufacturer of drive-train components for construction, mining, rail, marine, defense and other applications. A third order, for $95,000, is for added work on previously announced contract.

New Century reported that the value of quotes given to potential customers has risen to $8 million since the beginning of September. "This is an unusually high level of quotes, and it indicates that demand for New Century products is very robust and is likely to stay that way," said the Company's CEO, David Duquette. "We have found that quote requests are a reliable key to the volume of new business in subsequent months. On the basis of the latest quote totals, along with the new orders we announce today, I am confident that the sharp growth we have seen in the normally slow spring and summer months will continue, and may accelerate, in the fourth quarter of 2005 and into 2006."

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