EXHIBIT 99.1
FOR IMMEDIATE RELEASE:
ADVANCED MATERIALS GROUP REPORTS 2005 UNAUDITED FINANCIAL RESULTS
o 2005 REVENUE OF $8.7 MILLION, UP 8.9% YEAR-OVER-YEAR
o 2005 NET OPERATING INCOME OF $157 THOUSAND, UP 160% YEAR-OVER-YEAR
o CURRENT OUTSTANDING SHARES OF STOCK IS 12,116,000
o NET INCOME FOR 2004 INCLUDED A ONE-TIME RELEASE OF ACCRUED
LIABILITY FOR SETTLEMENT OF LEGAL CASE IN THE AMOUNT OF $974,000.
TOTAL REPORTED NET INCOME FOR 2004 WAS $714,548 WHICH INCLUDED
THE RELEASE OF THIS ACCRUED LIABILITY.
DALLAS, Texas, (June 29, 2006) - Advanced Materials Group, Inc. (OTC: ADMG.PK)
("ADMG") announced unaudited financial results for the fiscal year 2005.
Advanced Materials Group, Inc. (AMG) reports revenue for fiscal year 2005 of
$8.7 million, up 8.9% year-over-year. The company remains focused in its efforts
to change the company's direction as AMG'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.
AMG does not see a significant change to this practice although the product mix
will change. In the past, all of AMG's products have been components or finished
products manufactured to order for its industrial customers. As discussed
previously, AMG 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.
AMG just recently announced the Fiscal Year-ending 2004 results and is in the
process of releasing audited 2005 results along with 2006 quarter-to-date
results.
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.
FISCAL YEAR 2005
STATEMENTS OF INCOME (UNAUDITED)
1Q 2005 2Q 2005 3Q 2005 4Q 2005 2005 YTD
----------- ----------- ----------- ----------- -----------
TOTAL REVENUE $ 1,967,066 $ 2,056,863 $ 1,943,450 $ 2,697,094 $ 8,664,474
GROSS PROFIT 346,614 441,791 392,540 868,450 2,049,395
OPERATING INCOME (LOSS) (165,391) (33,166) 24,347 341,064 166,854
NET INCOME (LOSS) (209,475) (52,742) 20,357 399,010 157,150