LOS ANGELES, July 24, 2007 (PRIME NEWSWIRE) -- Mizati Luxury Alloy Wheels, Inc. (Pink Sheets:MZTI), a distributor of high-quality luxury alloy wheels for passenger cars, sport utility vehicles, vans and light trucks, today reported its unaudited financial results for Q2 2007.
Mizati's Q2 2007 revenues were $1.59 million, an increase of 34% compared to revenues of $1.18 million for Q2 2006. Operating Income for Q2 2007 was $185,083, an increase of 72% from $107,110 for Q2, 2006. The Q2 2007 revenue increase can be attributed to the increase in our number of distributors and dealers, as well as greater brand recognition, and stronger sales. In Q2 2007 Mizati increased the number of distributors and dealers from three-hundred to four-hundred and twenty-five.
Mizati CEO Hazel Chu said, "We will continue to focus on making gradual improvements in our operational efficiencies and in our financial performance. We believe we are on the right path and intend to demonstrate this to our investors over the next several quarters." Mizati is releasing its unaudited financial performance for the Q2 2007 as part of the company's commitment to provide transparency for all shareholders. "We want our shareholders to know that Mizati's business is on the rise and that we will continue building this company into an industry leader," added Chu.
About Mizati Luxury Alloy Wheels, Inc.
Mizati Luxury Alloy Wheels, Inc. ("Mizati") designs, markets and distributes high- quality custom alloy wheels for passenger cars, sport utility vehicles, vans and light trucks. Incorporated in 2001, the company operates from its corporate headquarters in Walnut, California. Mizati currently markets and distributes three separate and unique brands of luxury wheels. "Mizati(r)", "Hero (tm)" and "Zati(tm)", "through a network of 300 dealers and distributors. Mizati has achieved an average annual revenue growth rate of 102% for the past three years.
For more information about Mizati Luxury Alloy Wheels, Inc. (Pink Sheets:MZTI), visit the company website at http://www.mizatiwheels.com.
The Mizati Luxury Alloy Wheels, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3904
About RedChip Companies Inc.
For over 15 years RedChip has been dedicated to "discovering tomorrow's blue chips today(tm)." RedChip's long history of success includes putting research coverage on Starbucks(tm), Nike(tm), MarketWatch.com(tm), Daktronics(tm) and many other companies before they were Blue Chips. RedChip Visibility(tm) provides publicly-traded small-cap companies an opportunity to present their business to institutional and individual investors by holding investor conferences across the country. To learn more about RedChip Companies, please visit www.redchip.com.
The RedChip Companies, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2761
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Any statements that are not historical facts contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward- looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in MZTI Securities and Exchange Commission filings. MZTI undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.