North American Technology Group announces first quarterly profit

by PegNews wire

The profit was a 72% increase over the same quarter of last year.

IRVING — Irving-based North American Technologies Group, Inc., a manufacturer of engineered composite railroad ties, announced the Company's first quarterly profit. The profit of $173,481 resulted from $9 million of revenue for the quarter (a 72% increase over the same quarter of last year).

Mr. Rod Wallace, the company's President and Chief Executive Officer, said, "The profit reported for the quarter represents an historic event for this company. This is the first profit in the company's existence and is the beginning of a phase -- from start-up to an operating company. It is almost impossible to thank all of the people who helped make this successful quarter possible, because the results truly represent a team effort. Certainly our dedicated employees, directors and advisors have played a huge part in this success. We also thank our customers for believing in our product and providing input for constant improvement in and to our product. We also wish to thank our lenders and investors for supporting us through some very trying times. Our challenge now is to continue to improve our production, and customer base."

Source: North American Technologies Group, Inc.