National Automation Services, Inc.'s Wholly Owned Subsidiary Announces Support and Maintenance Agreement With Firestone
LAS VEGAS, NV, Nov 29 (MARKET WIRE) -- National Automation Services, Inc. (PINKSHEETS: NASV) (www.n-a-s-inc.com), and its wholly owned subsidiary Intuitive System Solutions, Inc. (ISS) arepleased to announce Firestone Building Products, with gross revenues of over $2.4Billion per year, has selected ISS to provide continuing automation control and maintenancesupport for its new plant located in Las Vegas.
Firestone completed construction of the new plant in October which utilizedfactory personnel from outside of the area to set-up all equipment on batchand assembly line systems employed in the plant. However, ISS was selectedover out of state contractors to support ongoing operations now that construction is complete. The recently signed agreement calls for the engineers at ISS to be on call 24\7 in order to support this new state-of-the-art facility.
Robert Chance, CEO of National Automation Services, Inc. in discussing the selection of ISS by Firestone stated: "After months of scrutiny by Firestone in the selection process, ISS was selected for this important task of supporting its operations here in Las Vegas. The equipment installed in the Plant ishighly specialized with extensive automation and controls installed which require our skill set to support. In building a nationwide network of automation and control companies, NASV will be able to offer Firestone support in all of their operations across the country. We are grateful for the selection and look forward to building a strong relationship with them. Our company intends to seek out other specialized maintenance and support contracts which pay ISS and ourother subsidiariessizable monthly fees for being on call as well as providing theservices required. This type of contract allows us to achieve a steady source of monthly income while we continue to attract substantial project contracts."
Mr. Chance continued: "The Company is also pleased to announce that ISS hasbeen awarded a total of $1,288,227 in contracts over the last 60 days, and have outstanding bids for another $5,558,000 of contracts, which should be awarded over the next 60 to 90 days. The Company expects to win a substantial amount of the contracts which it is bidding upon. We look forward to discussing this contract, our present backlog and our present outstanding bids, as well as our overall acquisition strategy on our first national conference call next Tuesday."
Robert Chance will be hosting a conference call on Tuesday, December 4th, in order to discuss NASV's operations and acquisition strategy with it shareholders, the investing public, brokers and analysts. Topics that willbe covered include: current projects, revenues and shareholder value, and upcoming acquisitions. Dial-in information for the conference call: Ready-Access Number: 1-800-503-2899, 7-Digit Access Code: 5673303.
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ABOUT NATIONAL AUTOMATION SERVICES, INC.
National Automation Services, Inc. is a public holding company for specialized automation control companies located in the Southwestern UnitedStates. The Company presently owns 100% of the stock in Intuitive System Solutions Inc. ("ISS") of Las Vegas, Nevada and is currently completing itssecond acquisition in Phoenix, Arizona of Intecon Controls Inc.
The Company currently focuses on:
Industrial Automation and Control. With an experienced staff of electrical and control engineers, as well as project managers, with over 80 years combined experience in industrial automation and controls. The Company's business is currently focused in Nevada, Arizona and Utah, but it intends to expand through internal growth and acquisitions into California, Texas and NewMexico and other western states during 2007 and nationwide in 2008. From this segment of the business, NAS is projected to realize $7 million of gross revenues in 2007 and increase the gross revenues from this division to over $21 million in the 6 months through key acquisitions. As an example of the type of services provided in this division, a major national airline utilizes ISS extensively for automation projects at Las Vegas McCarren International Airport.
Automation Manufacturing. The Company is a certified UnderwritersLaboratories Panel fabrication facility. This nationally recognized regulatory body provides NASwith significant marketplace credibility for custom control panel assembly and fabrication to its clients. From this segment of the business, NAS is projected to realize $3 million of gross revenues in 2007 and increase the gross revenues from this division to over $6 million in the next year just from ISS and Intecon alone.
NAS projects achieving gross revenues from ISS in 2007 of $2,544,094, with a net pre-tax income of $781,688 and $2.4 million from Intecon Controls with a net pre-tax of $480,345. Through an acquisition strategy that encompasses a minimum of one major acquisition per quarter, as well as through internal growth of ISS, due to its recently granted increase in licensing capacity to $2 million per project, the Company should increase gross revenues to$25,780,972 in 2008, with net pre-tax income of $16,190,755. With a total of 40 million shares outstanding, the management of the Company projects earnings per share of $0.03 in 2007 and $0.27 in 2008.
FORWARD-LOOKING STATEMENT: This press release contains forward-lookingstatements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the automation controls industry; the positioning of NAS in themarket; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether NAS can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. CONTACT INFORMATION National Automation Services, Inc. Bob Chance 2053 Pabco Henderson, NV, 89011
(702) 642-7720 Investor Relations Contact: David Donlin The Cervelle Group 238 N. Westmonte Drive Suite 210 Altamonte Springs, FL 32714
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