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SOURCE Green Parts International Inc.
ATLANTA, Dec. 27, 2013 /PRNewswire/ -- GreenParts International Inc. (OTCQB: GNPT) today reported record revenues of $10.72 million for the nine months ending Sept. 30th, 2013 versus $8.614 million for the same period last year. President/CEO Asif Balagamwala commented, "Our record 3rd quarter revenues of $4.15 million for period ending Sept. 30, 2013, compared to $2.438 million for the same period last year, are proof of the growing synergies of our core businesses. That being combined with our ongoing cost cutting measures driving our profitability, we reported earnings of $169k versus a loss of $136k for the same quarter last year."
President/CEO Balagamwala also commented, "While our industry was in decline, we are very proud to have been achieving growth over the past two years. Given the steel industry has been one of the top gaining industries during the fourth quarter, we feel that we are poised to capitalize."
Balagamwala continued, "We are part of a $500 billion a year industry that's in recovery and we have implemented several productivity improvements to address the increase in demand we have seen from the mills. In addition, we are aggressively pursuing strategic opportunities to expand our presence in the Mid-South and will be releasing details of our international opportunities in the near future. All in all, we are very excited about an explosive 2014."
For further information about GreenParts International, visit the website www.greenparts.com.
Forward Looking Statement
The contents of this Press Release may be deemed to include forward-looking statements within the meaning of United States securities laws and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only predictions and you should not rely on them. Actual results might differ materially from those projected in any such forward-looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. We cannot guarantee future results, levels of activity, performance or achievements. In evaluating forward-looking statements you should consider various factors including risks inherent in the scrap metal business sector.
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