EXHIBIT 99.1
FOR IMMEDIATE RELEASE:
ADVANCED MATERIALS GROUP REPORTS 1ST AND 2ND QUARTER 2006 UNAUDITED
FINANCIAL RESULTS
o FIRST QUARTER 2006 REVENUE OF $2.4 MILLION
o SECOND QUARTER 2006 REVENUE OF $2.5 MILLION
o 2006 YTD NET OPERATING INCOME OF $356 THOUSAND
o 1ST QUARTER 2006 NET OPERATING INCOME $154 THOUSAND
o 2ND QUARTER 2006 NET OPERATING INCOME $202 THOUSAND
o CURRENT OUTSTANDING SHARES OF STOCK IS 12,116,000
DALLAS, Texas, (July 24, 2006) - Advanced Materials Group, Inc. (OTC: ADMG.PK)
("ADMG") announced unaudited financial results for the 1st and 2nd Quarters of
fiscal year 2006.
Advanced Materials Group, Inc. (AMI(4)) reports revenue for 1st and 2nd quarter
of 2006 of $2.4 million and $2.5 million and YTD Net Operating Income of $356
thousand. AMI(4) continues to implement a turnaround plan that was put into
place some 24 months ago and the results are now being realized. The company
implemented a strategy to recognize the power of 4 which is our People,
Partners, Patents and Profits. The company realized that without our people and
partners (i.e. customers) our plan will not succeed in providing shareholder
return. The company remains focused in its efforts to focus the company's
direction as AMI(4)'s products have traditionally been marketed and sold
primarily to major divisions of large industrial customers, many of which are
industry leaders whose products have significant market share. AMI(4) does not
see a significant change to this practice although the product mix will change.
In the past, all of AMI(4)'s products have been components or finished products
manufactured to order for its industrial customers. As discussed previously,
AMI(4) will also sell and manufacture products developed internally, and well as
those licensed from outside inventors. The customer's purchase decision has
often involved the engineering, manufacturing and purchasing groups within the
customer's management. It is anticipated that the customers' team of management
will continue to be involved in the process, but will also include sales and
executive level management.
AMI(4) just recently announced the Fiscal Year-ending 2005 audited results and
is in the process of releasing audited 2006 quarter-to-date results.
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Advanced Materials Group, Inc. is a leading manufacturer of medical, consumer
and industrial products from flexible materials such as foams, films, fabrics,
and pressure sensitive adhesives.
Statements in this release which are purely historical facts or which
necessarily depend upon future events, including statements about forecasted
financial performance or other statements about anticipations, beliefs,
expectations, hopes, intentions or strategies for the future, may be
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. Readers are cautioned not to place undue
reliance on forward-looking statements. All forward-looking statements are based
upon information available to Advanced Materials Group, Inc. on the date this
report was submitted. Advanced Materials Group, Inc. undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. Any forward-looking statements
involve risks and uncertainties that could cause actual events or results to
differ materially from the events or results described in the forward-looking
statements. Advanced Materials Group, Inc. may not succeed in addressing these
and other risks. Further information regarding factors that could affect our
financial and other results can be found in the risk factors section of Advanced
Materials Group, Inc.'s most recent filing of Form 10-K with the Securities and
Exchange Commission.
Investor Relations Contact:
ELIZABETH GIVENS
ADVANCED MATERIALS, INC.
(972) 432-0602
ADVANCED MATERIALS GROUP, INC.
1ST AND 2ND QUARTER OF FISCAL YEAR 2006
STATEMENTS OF INCOME (UNAUDITED)
1Q 2006 2Q 2006 2006 YTD
---------- ---------- ----------
TOTAL REVENUE $2,375,337 $2,526,034 $4,901,371
GROSS PROFIT 674,551 719.687 1,394,238
OPERATING INCOME (LOSS) 200,053 254.328 454,384
NET INCOME (LOSS) 154,563 202,016 356,579
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