SOURCE: New Century Companies, Inc.

January 09, 2007 08:30 ET

New Century Cos. Reports $4.5 Million in New Orders; 2006 Sales Meet Target at $10.5 Million, up 74% From 2005

Machine-Tool Firm Says Quote Requests Signal Continued Strength in Customers' Capital Spending

LOS ANGELES, CA -- (MARKET WIRE) -- January 9, 2007 -- New Century Companies, Inc. (OTCBB: NCNC), a leading manufacturer and re-manufacturer of machine tools, today reported that it received orders for eight vertical turning centers (VTCs) totaling $4.5 million during the fourth quarter ending December 31, 2006. It also said that its full-year 2006 sales will be approximately $10.5 million, within the previously announced target range of $10 million to $12 million.

The eight VTCs sold during the fourth quarter were bought by firms in aerospace, commercial construction, mining, transportation (locomotives) and semiconductor manufacturing. The $4.5 sales from these orders are being booked in the fourth quarter of 2006 and the first quarter of 2007.

New Century said proceeds realized from these orders during the fourth quarter brought its revenue for all of 2006 to approximately $10.5 million, an increase of 74% from $6.04 million reported in 2005.

The company also said the volume of quotation requests from large corporate customers -- an indicator of future sales volume -- remains high. It expects capital spending and demand for machine tools to remain robust.

"Our solid finish in 2006 is a sign that the need for capital spending remains strong in the U.S., and that we will continue to see healthy demand in 2007," said David Duquette, New Century's President and CEO. "As we have seen in past quarters, our ability to sell in multiple sectors, such as aerospace, mining and construction, enables us to ride out slumps in particular sectors (such as housing) and take advantage of the economy's overall strength. We expect 2007 to be another strong year for the machine-tool business in general. In particular, we expect widening customer awareness of the capabilities and cost advantages of New Century products such as re-manufactured, computer-controlled VTCs."

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About New Century Cos.

New Century Companies, Inc. (OTCBB: 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 (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.

Visit New Century's Web site at

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
    New Century Companies, Inc.

    Haris Tajyar
    Investor Relations International