VANCOUVER, British Columbia, July 9, 2007 (PRIME NEWSWIRE) -- Moventis Capital, Inc. (OTCBB:MVTS), an acquisition and management company that acquires small and medium-sized private enterprises (SMEs) and provides resources and management to promote growth and enhance valuation, announces that its portfolio company, PTL Electronics, Ltd. (PTL), has received more than US$1.7 million in purchase orders from three original equipment manufacturer customers. Two of the orders are from long-term customers and the other represents a new customer win for PTL. Order details are as follows:
* An initial US$265,000 order was secured from a new customer following a rigorous selection process. This is a significant new customer win for PTL, with the total contract value expected to exceed US$3 million over the next three years. * Orders totaling US$1,121,459 were received from a long-term customer in the industrial controls sector. * Orders totaling US$342,042 were received from a long-term Fortune 1000 customer in the industrial power systems market. Orders from this customer are expected to exceed US$1.7 million over the next 12 months.
"At PTL, we're pleased to continue to be selected as the manufacturing partner of choice for our long-term customers as they expand their businesses," comments David McAlpine, co-CEO and vice president of sales at PTL. "At the same time, we're focused on winning new customers in line with our growth plan."
"With their recently announced new facility and a US$1.1 million investment in additional equipment, PTL is already in the process of increasing manufacturing space by 100% and capacity by 150%," adds Moventis chairman and CEO, Blake Ponuick. "With this world class facility in place, along with the ability to provide end-to-end electronics manufacturing services, PTL is ideally positioned to continue growing their customer base and the industries they serve. We look forward to providing regular updates to investors on this and future portfolio companies."
About PTL Electronics, Ltd.
PTL Electronics, Ltd. (PTL), a Moventis portfolio company, provides electronics manufacturing services to a niche market of businesses looking to design and produce very high-end and complex products ranging from ultrasound machines to alternative fuel cells. PTL operates in the $115 billion EMS sector and serves some of the world's largest markets including industrial controls, medical services, telecommunications and computing. For more information on PTL, visit www.ptlelectronics.com.
About Moventis Capital, Inc.
Moventis Capital, a Delaware corporation, is a publicly traded acquisition and growth management company that seeks to acquire quality, established small and medium-sized enterprises (SMEs) and provide resources and management expertise to improve growth and enhance valuations. Moventis intends to capitalize on an underserved market of successful SMEs, primarily privately held, that do not meet the size or industry requirements of many acquisition and investment firms. For more information, visit www.moventiscapital.com.
Safe Harbor
Statements included in this news release, which are not historical in nature, are intended to be, and are hereby identified as "Forward-Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management's current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including without limitation the ability of Moventis (or any other company mentioned in this release) to consummate acquisitions, obtain necessary financing and successfully grow operations, revenue and profitability. The PTL purchase orders mentioned in this release represent orders from customers for currently scheduled manufacturing services. The actual dates of completion or when and how much revenue is booked may vary based on a number of factors affecting normal business operations, including changing customer needs and requirements. There can be no assurance that bookings will convert to revenue, or that PTL will be able to increase capacity to fulfill orders in a timely fashion. Forward-Looking Statements may be identified by words including "outlook," "anticipate," "await," envision," "foresee," "aim at," "plans," "believe," "intends," "estimates," "expects" and "projects" including, without limitation, those relating to the company's financial expectations and future business prospects. Readers are directed to the Moventis filings with the US Securities and Exchange Commission, including its Risk Factors described in its Annual Report on Form 10-KSB for the fiscal year ended June 30, 2006 and its quarterly reports on Form 10-QSB; other risks or uncertainties may be detailed from time to time in future SEC filings for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations. Any financial guidance provided in this news release is based on limited information available to Moventis at this time and is subject to change. Although management's expectations may change after the date of this news release, Moventis undertakes no obligation to revise or update this guidance or publicly release the results of any revision to these forward-looking statements.