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Marketing Worldwide Reports Sales for FY
2006 Increase by 18 Percent;
Net Income Rises by 70%
HOWELL, MI--(MARKET
WIRE)--Jan 19, 2007 -- Marketing Worldwide Corporation (MWW)
(OTC BB:MWWC.OB - News), a leader in car customization programs
for major auto manufacturers, today announced that it filed with
the SEC its annual report for Fiscal Year 2006, which ended September
30, 2006. The Company's sales increased by 18% to $9.54 million
compared to $8.1 million in FY 2005. Net income was reported at
$305,950, an increase of approximately 70% over $179,809 for FY
2005, while Income Before Taxes was recorded at $482,096 for FY
2006, an increase of approximately 74% over $276,584 for FY 2005.
Consolidated Statements of Income for the
Two Years Ended September 30, 2006 and 2005 follow at the nd of
this release.
"Fiscal Year 2006 has been a significant
year for us," said Michael Winzkowski, President, MWW. "While
we have continued our track record of five years of increasing sales
and profitability, we have also expanded our management team and
product roster and have begun to aggressively pursue new customers
in addition to our established relationships with several large
Toyota vehicle processing centers during 2006."
The Company's largest customers are Southeast
Toyota, Gulf States Toyota, Toyota Canada International and Toyota
Motor Manufacturing Company in Canada. During 2006, MWW also began
delivering first products to KIA Motors USA and has been awarded
an excellence award for "Most Valuable Supplier" by KIA.
The Company plans to utilize its experience
with the Toyota vehicle processing centers and apply this proven
business model to other leading global automobile manufacturers.
During 2007, MWW plans to design, manufacture and deliver several
new large products and to expand its customer base, following the
same successful strategy it has applied in the past. MWW will continue
to design and manufacture innovative quality products for its customers
and associate itself early with automobile manufacturers that provide
quality automobiles and fast growing market share, sales and profits.
About Marketing Worldwide Corporation
Founded in 1999, MWW is a high quality, full-service OEM supplier
for the automotive industry. MWW designs, develops and manufactures
high quality (OE-grade) automotive accessory components for high-volume
sales directly to the major automobile processing centers at their
US entry ports and in Canada, for installation as either Port Installed
Options (PIO) or Dealer Installed Options (DIO) programs. The majority
of MWW's products are currently being designed and manufactured
by MWW for Toyota and KIA passenger cars, SUVs and light trucks.
MWW's corporate headquarters is in Howell, Michigan with support
teams and satellite offices operating from different parts of the
US and Germany. Please visit www.marketingworldwide.us (under construction)
to see the latest company news and filings and subscribe to the
MWW newsletter, or e-mail your questions to investorrelations@marketingworldwide.us.
Certain statements in this press release that
are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements may be identified by the use words such as
"anticipate," "believe," "expect," "future,"
"may," "will," "would," "should,"
"plan," "projected," "intend," and similar
expressions. Such forward-looking statements, involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. The Company's
future operating results are dependent upon many factors, including
but not limited to the Company's ability to: (i) obtain sufficient
capital or a strategic business arrangement to fund its expansion
plans; (ii) build the management and human resources and infrastructure
necessary to support the growth of its business; (iii) competitive
factors and developments beyond the Company's control; and (iv) other
risk factors discussed in the Company's periodic filings with the
Securities and Exchange Commission, which are available for review
at www.sec.gov under "Search for Company Filings."
Pursuant to a September 15, 2006 agreement, Consulting
For Strategic Growth1, Ltd. (“CFSG1”) provides Marketing
Worldwide Corporation with consulting, business advisory, investor
relations, public relations and corporate development services.
Independent of CFSG1’s receipt of cash compensation from MWW,
CFSG1 may choose to purchase the company’s common stock and
thereafter liquidate those securities at any time it deems appropriate
to do so.
MARKETING
WORLDWIDE CORPORATION
Consolidated
Statements of Income
For
the Two Years Ended September 30, 2006
2006
2005
---------------
-----------------
NET
SALES
$9,476,148
$8,101,109
Cost
of sales
7,042,925
6,071,550
---------------
-----------------
GROSS
PROFIT
2,433,223 2,029,559
---------------
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OPERATING
EXPENSES:
Selling expenses
328,764
200,545
General and administrative expenses 1,452,480 1,423,693
Financial expenses
169,883
132,479
---------------
-----------------
TOTAL OPERATING EXPENSES
1,951,127
1,756,717
---------------
----------------
INCOME
FROM OPERATIONS
482,096
272,842
Other
income (expense)
(10,175)
3,742
---------------
-----------------
INCOME
BEFORE PROVISION FOR INCOME TAXES 471,921
276,584
Provision
for income taxes
117,704
96,775
---------------
-----------------
Income
before minority interest
354,217
179,809
Minority
interest
48,267
--
---------------
-----------------
NET
INCOME
$ 305,950 $
179,809
---------------
-----------------
Basic
earnings per share
$ 0.03
$
0.02
Dilutive
earnings per share
$ 0.03 $
0.02
Weighted
average common shares outstanding
for
basic earnings per share 11,074,031
11,051,995
Weighted
average common shares outstanding
for
dilutive earnings per share
12,324,031 11,051,995
Source: Marketing Worldwide Corporation
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