RADCLIFFE, Iowa, Jan. 12, 2006 (PRIMEZONE) -- The preliminary financial results for Mirenco, Inc. (OTCBB:MREO) demonstrated major improvements in 2005.
These improvements included sales of $720,000 compared to $354,000 in 2004 and $94,000 in 2003. Gross profit percentage improved to 61 percent compared to 32 percent in 2004 and just three percent in 2003. The estimated loss per share decreased to four cents compared to nine cents in 2004 and 12 cents in 2003.
"As we go into 2006, we have an excellent opportunity to build on these results," said Rich Musal, COO and CFO. "We have developed an excellent data base of installation procedures for the different types of engines we have encountered in our various tests. This has resulted in excellent results for our growing customer base and new prospects are being added monthly."
Dwayne Fosseen, Mirenco's CEO, said, "The mining industry has been very successful for Mirenco in 2005. The 2006 marketing approach has had a very positive response. Our major customers in this industry are now realizing significant fuel savings from our program as well as clean air in their operations."
About Mirenco, Inc.
Mirenco, Inc. is a Radcliffe, Iowa-based company that specializes in patented vehicle management technology and consultative services for reducing vehicle emissions, improving fuel economy and lengthening the service life of heavy-duty diesel vehicles.
For more information, visit www.mirenco.com, e-mail info@mirenco.com or call 800.423.9903.
Some of the statements made in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Additional information concerning Mirenco, Inc. can be found within Mirenco's filings with the Securities and Exchange Commission. Statements in this release should be evaluated in light of this additional information.
HTML: http://newsroom.eworldwire.com/wr/011206/13488.htm
PDF: http://newsroom.eworldwire.com/pdf/011206/13488.pdf
ONLINE NEWSROOM: http://newsroom.eworldwire.com/307732.htm
NEWSROOM RSS FEED: http://newsroom.eworldwire.com/xml/newsrooms/307732.xml