TUSTIN, Calif., March 4, 2014 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTCQB:MLHC) ("M Line" or the "Company"), a leading provider of products, assemblies and services to the precision high tech segment of both the aerospace and medical industries as well as a seller of high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment, today shared positive research outlooks on its core industry - aerospace and defense.
According to Deloitte's 2104 Global Aerospace and Defense Industry outlook, "Airlines and operators are replacing older fleets with new fuel efficient aircraft and coupled with increased air passenger demand in the Middle East and Asia Pacific markets is expected to make 2014 a record year for the commercial aerospace industry." (http://www.bloomberg.com/news/2012-12-05/aerospace-sales-to-rise-2-8-in-2013-industry-group-says.html)
In fact, according to Avionics Today Magazine, "Global air traffic is estimated to grow at an annual rate of 5% for the next 20 years, faster than the anticipated rate of economic growth, which will drive the airlines to take deliveries of 34,000 new aircraft by 2013 with a value of about $4.5 trillion." (http://www.aviationtoday.com/av/commercial/2014-Another-Record-Year-for-Commercial-Aerospace_80981.html#.Uw00q5CYYqQ)
Bruce Barren, CEO of M Line Holdings, Inc. stated, "The airline industry backlog and annual revenues are growing at a rapid pace and we are already seeing this growth reflected in our business. M Line's revenue numbers are significantly higher with a total reversal of losses from Fiscal 2013, which should result in at least a $5 million turnaround in operations.
Barren continued, "Our company's focus remains on earnings performance and growth as reflected in our building block approach. The foundation has been built and proof of share value is our daily determination. We strive to prove that shareholder value is on the uptick and will do so via visible financial results now and in the coming quarters."
Tony Anish, COO of M Line Holdings, Inc., stated, "The dramatic improvement in the growth of the airline industry over the last two to three years is being supported by orders to companies such as ourselves who manufacture quality parts in the United States with American workers who truly believe in and love the work they do. At M Line our team, both at the management as well as the shop floor level, are very supportive of our Company not only through the good times but continue to support even when cash flow issues have been problematic. This loyalty and excellent work ethic has resulted in our ability to grow this Company significantly. The long and short term industry trends are having a positive effect on M Line as reflected in the first six months of Fiscal 2014 where revenues were up by over 36%. We expect this trend to continue throughout the year."
About M Line Holdings, Inc.
M Line Holdings, Inc. (OTCQB:MLHC). M Line provides products and services to the precision high tech segment of both the aerospace and medical industries as well as selling high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment. Key customers of our group include Panasonic Avionics, UTC Aerospace Systems, Beckman Coulter and BE Aerospace as well as our new relationship with SIE (Structural Integrity Engineering, Inc.). The Company is headquartered in Tustin, California. For more information see our website at http://www.mlineholdings.com/
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Forward Looking Statements
This news release contains certain "forward- looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.
Investor Relations: Howard Gostrand 305.918.7000