Veltex Corporation announced that net sales in the first quarter of 2004 totaled $10.9 million. Net income in the first quarter totaled $857,306.


“We are very encouraged by these profitable results and continue to project that total sales in 2004 will exceed $25 million,” said Javeed Matin, Chairman and CEO. Veltex sales in 2003 totaled $19.99 million, Company sales in 2002 totaled $13.9 million, and sales in 2001 were $8.7 million.

Veltex' net income in 2003 was $1.528 million, in 2002 totaled $1.65 million and was $1.3 million in 2001. “Sales have grown from $5.5 million in 1999 to almost $20 million in 2003 under current management,” Mr. Matin said.