SOURCE: New Century Companies, Inc.

March 28, 2006 08:30 ET

New Century Cos. Receives $2.8 Million in New Orders

LOS ANGELES, CA -- (MARKET WIRE) -- March 28, 2006 -- New Century Companies, Inc. (OTC BB: NCNC), a leading manufacturer and remanufacturer of machine tools, today reported that it has received orders totaling $2.8 million so far during the first quarter of 2006. The orders are for six Vertical Turning Centers (VTCs) worth a total of $2.46 million and Quilite® brand sound-blocking modules worth $350,000.

Revenue from the orders will be booked during the first half of 2006, ending June 30. VTCs are computer-controlled vertical lathes used for precision machining in a wide range of industries.

The largest single order is for two 56-inch VTCs, at a cost of $750,000, from a Wisconsin-based machine shop that serves manufacturers in food services, pharmaceuticals, printing, transportation and aerospace. Another order, for one 76-inch VTC, comes from a Pennsylvania-based manufacturer of electronic and mechanical drive equipment. A 66-inch VTC is being sold to a Mexico-based machine shop. Two more VTCs, one 56-inch and the other 64-inch, are being sold for $225,000 and $265,000 to machine shops in the Los Angeles area.

“The pace of orders at the beginning of 2006 shows no signs of letting up from the level we saw in the closing months of 2005,” said David Duquette, New Century President and CEO. “With so many sectors of the economy continuing to grow, and with public spending on defense and transportation on the upswing, we believe that this recent sales trend has real staying power. In addition, the significant new Quilite order shows that our decision last year to devote surplus capacity to manufacturing of Quilite modules is starting to pay off in form of a new, fast-growing product line.”

Earlier this year, New Century reported that it received four orders totaling $1.23 million in December 2005, and that its order volume for the last five months of 2005 totaled $4.91 million -- more than its entire revenue for 2004.

To be added to New Century's investor e-mail lists, please contact Haris Tajyar at htajyar@irintl.com.

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

    Haris Tajyar
    Investor or Media Contact
    Investor Relations International
    818-382-9700