Jun 09, 2003 Iehab Hawatmeh, President and CEO of CirTran Corporation, commented, "Despite the challenging market, we are actually very encouraged by our positive order trends and we are seeing consistent growth. Of note, while the recent issues of SARS and the war with Iraq disrupted many contract manufacturers, we have actually seen increased customer interest. This is a direct function of companies realizing the need for a contingency manufacturing plan. CirTran, as a U.S. based manufacturer, provides the local presence, fast turn around and cost effective alternative customers require. Our ability to benefit from these trends, along with the strength of our expanded reseller partner network, gives us confidence in our business prospects for 2003."
Trevor Saliba, Senior Vice President, Worldwide Business Development for CirTran Corporation, said, "We continue to make tremendous progress with our existing customers and reseller partners. We are confident that we will achieve year over year improvements in sales and profitability in 2003 as capture the increasing revenue opportunities in front of us. At the same time, we are keeping our cost structure low in order to drive improved profitability."
"Overall, based on bookings and customer order indications we are optimistic about our prospects and we will continue to leverage our local U.S. presence and fast turn around capabilities," concluded Hawatmeh.
About CirTran Corporation
Founded in 1993, CirTran Corporation (OTC Bulletin Board: CIRT) has established itself as a premier full-service contract electronics manufacturer by building printed circuit board assemblies, cables, and harnesses to the most exacting specifications. CirTran is headquartered in Salt Lake City, Utah with a state-of-the-art 40,000 sq. ft. facility. CirTran also provides "just-in-time" inventory management techniques that minimize the OEM's investment in component inventories, personnel and, related facilities, thereby reducing costs and ensuring speedy time-to-market. For further information about CirTran, please visit the Company's website located at http://www.cirtran.com.
CONTACT:
David Pasquale, 646-536-7006, or Jim Olecki, 646-536-7021
Both with The Ruth Group, http://www.TheRuthGroup.com
Safe Harbor Statement
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the company's periodic filings with the Securities and Exchange Commission.
SOURCE CirTran Corp.
-0- 06/09/2003
/CONTACT: David Pasquale, +1-646-536-7006, or Jim Olecki, +1-646-536- 7021, both of The Ruth Group, http://www.TheRuthGroup.com, for CirTran Corp./
/Web site: http://www.cirtran.com /
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