EUCLID, Ohio, Jan. 11, 2021 (GLOBE NEWSWIRE) -- U.S. Lighting Group, Inc. (OTC:USLG) and, its wholly owned subsidiary, Intellitronix Corporation, experienced a record-breaking year in sales, products manufactured, and products shipped in 2020. In the opinion of the company’s management, the US Lighting Group will be profitable anticipating approximately $4 million in gross sales, an estimated $1.4 million or 50% increase over 2019.
“The US Lighting Group had an outstanding year in 2020 with roughly $4 million dollars in gross sales. We surpassed prior year records with products shipped out the door in Q3 and Q4. Many businesses experienced a downturn during the COVID-19 global pandemic, but we were very fortunate to have the opposite occur. At one point, we had a backlog of orders valued over $900,000. To strengthen our production process, we purchased a new Speed Print Technology 700 Series screen printer and high speed Europlacer iineo+ SMT Component Placement System, increasing our printed circuit board (PCB) output three-fold.” said Paul Spivak, CEO of the US Lighting Group.
The US Lighting Group is a US designer and manufacturer of commercial LED lighting products, automotive and patented marine electronics, groundbreaking energy management products for the RV industry. The company plans to expand the company portfolio to manufacture recreational vehicles for the RV Market. cortescampers.com
About U.S. Lighting Group, Inc. and Intellitronix Corp
US Lighting Group (OTC:USLG) and its wholly owned subsidiary, Intellitronix Corporation, are leading manufacturers of electronics, supplying growth sectors such as LED lighting, custom designed LED products, microprocessor-controlled LED instrumentation, custom private labeled electronics, automotive, RV, and marine electronics. The company has manufacturing and R&D facilities in Cleveland, Ohio with an international sales distribution network. uslightinggroup.com
Forward-Looking Statements
Statements included in this press release, other than statements of historical fact, are forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.
Contact
US Lighting Group
1148 East 222nd Street
Euclid, OH 44117 USA
T: +1 216.896.7000
shareholder-relations@uslightinggroup.com