Innolog Holdings Corp. Announces Q3 Financial and Operating Results
FAIRFAX, Va., Nov. 15, 2012 /PRNewswire/ -- Innolog
Holdings Corp. (OTCBB: INHC) today announced its third quarter and
nine months results for the period ending September 30, 2012.
Revenues for the quarter ended September
30, 2012 increased 36.5% to $1,555,467 as compared to $1,139,166 for the same period last year.
Revenues for the nine months ended September
30, 2012 increased 9% to $4,069,869 as compared to $3,731,666 for the same period last year.
In addition, the Company has shown a corresponding decline in
its loss from operations. The loss from operations has
declined from $540,610 for the three
months ended March 31, 2012 to
$418,207 as of June 30, 2012, and down to $306,296 as of September
30, 2012. This is a decline of 43% from the three
months ending March 31, 2012 to the
three months ending September 30,
2012.
William P. Danielczyk, INNOLOG's
Executive Chairman, stated, "We are pleased to show the continued
improvements and growth in our business while we are reducing the
operating loss each quarter. We are making progress in
developing new markets, while still growing our main
business. We remain steadfast on bidding and being awarded
government contracts that provide us with positive cash flow and
profitability on a project-by-project basis. As we enter the final
quarter of this year and look forward to 2013, we remain optimistic
about the future and progress of the Company."
About Us
Innolog Holdings Corporation was formed in March 2009 as a holding company for the purpose
of acquiring businesses that provide services primarily to federal
government entities. Our primary subsidiary, Innovative
Logistics Techniques, Inc. (www.innolog.com), was founded in 1989
to help the Department of Defense address complex logistics
business problems. The company is a federal government contractor
that brings world-class solutions and leading edge process oriented
thinking to the U.S. military, civilian agencies and state and
local governments to provide solutions to complex logistics
problems.
Additional information is available at
www.innologholdings.com.
Statements in this press release that are not statements of
historical or current fact, such as the expectation of future
revenue growth and profitability, constitute "forward-looking
statements". Such forward-looking statements involve known and
unknown risks, uncertainties and other unknown factors that could
cause INNOLOG's actual results to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. Factors that could cause
INNOLOG's results to be materially different from the
forward-looking statements include whether INNOLOG will be able to
find financing when and as it needs it and whether INNOLOG's
revenues will eventually exceed its expenses. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in
INNOLOG's reports filed with the Securities and Exchange
Commission, which are available for review at
http://www.sec.gov/.
Contact:
Investor Relations
Andrew Barwicki
516-662-9461 / andrew@barwicki.com
SOURCE Innolog Holdings Corp.