Having now accumulated more than
Major General (Ret)
"We are making meaningful progress in our quarter-over-quarter financial growth. ADG is not the Company it was one year ago. Since then we have diversified products and markets, reduced debt, bolstered liquidity, disposed of certain under-performing assets, and built new partnering and joint venture relationships. We continue to ramp up production in order to exploit ADG's extraordinarily large and growing backlog. Overhead cost reduction remains a management focus as we seek to drive profitability without impairing our demonstrated competitiveness.
"As an interesting growth benchmark, the potential revenues of MECAR USA's existing backlog now exceed the combined revenues of the subsidiaries we have recently divested.
"I want to reiterate that the fundamentals of our business are strong - as unequivocally demonstrated by recent solid growth to both our top and bottom lines. The Company remains well-positioned to grow and to continue to increase revenue and income in the coming years."
About The Allied Defense Group, Inc.
The Allied Defense Group, Inc. is a diversified international defense and security firm which: develops and produces conventional medium caliber ammunition marketed to defense departments worldwide; designs, produces and markets sophisticated microwave security systems. For more information, please visit the Company web site: www.allieddefensegroup.com.
Certain statements contained herein are "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.
For more information, please visit the Company web site: www.allieddefensegroup.com
For More Information, Contact:
830-669-2466
SOURCE Allied Defense Group, Inc.