PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Scorpion Performance exceeding 2010 revenue forecast, signs Spartan Securities as Market Maker

Scorpion Performance, Inc. is pleased to report that it is on track to meet or exceed its revenue forecast and anticipates closing the 2010 fiscal year at an estimated $1.2 million profit.

2010-09-26
FORT LAUDERDALE, FL, September 26, 2010 (Press-News.org) Scorpion Performance, Inc. is pleased to report that it is on track to meet or exceed its revenue forecast and anticipates closing the 2010 fiscal year at an estimated $1.2 million profit. Additionally, the Company announced today that it has signed an agreement with Spartan Securities Group based in St. Petersburg, Florida to sponsor Scorpion Performance ( http://scorpionperformance.com ) by filing the required 15C-211 for quotation on the OTC Bulletin Board. Spartan Securities is a well-established, full service investment banking firm with a dedicated team of professionals serving the needs of emerging growth companies.

âEURœOur goal all along has been to qualify to be able to trade in a public market,âEUR stated Rob Stopanio, President and CEO of Scorpion. âEURœThis is the next step to paving the way for Scorpion Performance to obtain a trading symbol which, we believe, will provide liquidity for our shareholders and enhance shareholder value.âEUR Scorpion Performance is now in the process of submitting documents required for OTC Bulletin Board recognition and expects to complete the application process by the end of the third quarter.

According to Stopanio, âEURœThe future of Scorpion Performance looks very bright. The Company is showing tremendous growth in sales, has decreased expenses and is realizing greater efficiencies. For the last 10 years, Scorpion has reinvested earnings back into the Company and has built other subsidiaries such as Scorpion Racing Products, a leading performance parts distribution company; Anodize Inc., a supplier of anodizing, polishing and laser etching services to various industries; Scorpion Medical, a design and manufacturing firm of precision medical devices and instruments; and World Waste Management, an innovator and manufacturer of composting and waste management systems. We believe that showing a healthy profit in 2010 is just the beginning of many good years to come.âEUR

âEURœScorpion has nominal debt,âEUR stated Stopanio. âEURœWe own over $10 million in equipment and $6 million in real estate holdings. Properties include a 1.82-acre / 30,000 square foot Fort Lauderdale, FL and a 23-acre / 95,000 square foot in Ocala, FL. We believe that our reinvestment in Ocala will allow us to increase capacity 300%, while maintaining product quality. This reinvestment, coupled with our reputation for high quality, has allowed us to step in and start manufacturing for major U.S. auto and marine original equipment manufacturer (OEM) companies that were forced to downsize, but still need to manufacture engines. When the economy changed a couple of years ago, Scorpion was positioned to begin strategic marketing efforts that resulted in higher sales, profits and production in a âEUR˜downâEUR economy. We believe that our planning and reinvestment has made Scorpion the âEUR˜go toâEUR company for manufacturing OEM parts in the United States.âEUR

Sales rising consistently

ScorpionâEUR s sales to date are up 32% over last year and have exceeded the CompanyâEUR s sales goals set for 2010. By the beginning of June 2010, Scorpion had already matched the total sales figures for all of 2009 and has over $1 million in pending orders.

Wholesale and retail sales of the Scorpion Performance branded line of products have doubled from this time last year. Scorpion has acquired new Warehouse Distributor (WD) customers and a growing number of the CompanyâEUR s WD customers are increasing their private label and Scorpion Performance branded orders substantially.

Private label sales to ScorpionâEUR s large OEM customers are also increasing. While one OEM customer is increasing production and future scheduling shows an increase of 50% in orders to Scorpion, another OEM is forecasting substantial growth in their 2010 sales. The second OEM customer has implemented a new engine program that uses Scorpion-manufactured rocker arms ( http://scorpionperformance.com ) exclusively, which should drive a 300% increase in 2011 over current order levels.

Scorpion also received its first purchase order from a third large OEM customer. Orders from this new customer are expected to match or exceed ScorpionâEUR s sales to its current largest customer, which, management believes, is a substantial development. All of ScorpionâEUR s OEM customers are American manufacturers that recognize the quality of ScorpionâEUR s American-made products.

Stopanio stated, âEURœThrough the use of robotics and automation, Scorpion is not only achieving success and growth through the sales of its own brand of products, the Company has also given large U.S. manufacturing companies a high quality, precision, low cost alternative to off-shore manufacturing of many of their parts.âEUR

Ocala facility nearing completion

Construction of ScorpionâEUR s new manufacturing facility in Ocala, Florida is nearly complete and is expected to open late 2010. Scorpion will then move its current Fort Lauderdale, Florida facility to Ocala. The subsequent liquidation of the Fort Lauderdale plant will result in an estimated 50% reduction in utilities, maintenance, repairs, and other operating expenses. According to Stopanio, âEURœWhile decreased expenses are contributing to Scorpion PerformanceâEUR s financial position, we believe that increases in efficiency are also helping to improve the CompanyâEUR s bottom line.âEUR

Increases in efficiency

ScorpionâEUR s larger Ocala facility will allow the Company to increase its output by reconfiguring its automated manufacturing and assembly lines for greater productivity, and by allowing for the space needed to grow. The Ocala facility already houses ScorpionâEUR s executive management and marketing personnel, and employs three shifts of manufacturing personnel to operate two sets of CNC machinery.

The Ocala facility will also feature a new piece of robotic machinery that management believes will make this facility the most modern and productive facility of its kind anywhere in the world. This machine will reduce the manufacturing cycle time of a rocker arm from its current 1.5 minutes to only 16 seconds, which represents an increase in output of over 500%. This will be possible due to the machine performing up to 16 different functions at the same time. Additional automated productivity at this level also translates into reduced labor costs. Scorpion will be able to consolidate the work of three shifts into one shift.

The Ocala facility and new advanced equipment will also allow Scorpion to reconfigure its existing robotic cells to manufacture new product lines such as shaft mounted rocker arms, which is a huge new market that Scorpion is ready to enter and succeed in. Prototypes of this product have already been developed and are in the testing phase.

Scorpion subsidiaries adding to revenue

Numerous Scorpion Performance subsidiaries are performing well. Scorpion Racing Products and Anodize Inc. are two such companies that are producing positive results. Scorpion Racing Products is the marketing and distribution company for the products that Scorpion Performance manufactures. Net income for Scorpion Racing Products in 2009 was -$89,000. Based on current projections, Scorpion Racing Products net income for 2010 is expected to top $1,056,000 and is projected to be $3,072,000 in year 2011.

Anodize Inc. performs anodizing, mirror polishing and laser etching services for a broad range of industries including medical, defense, automotive, marine, aerospace and precision manufacturing. Year-to-date sales for Anodize Inc. are currently up 26%.

Two other Scorpion-owned companies that will begin operations in the near future are Scorpion Medical and World Waste Management. To diversify its growing operations, Scorpion Medical recently signed an agreement with its joint venture partner Global-Med Technologies Group (GTG) of Sarasota, Florida to provide manufacturing of all medical products for GTG subsidiary companies. Through this venture, Scorpion Medical will provide design, prototyping, manufacturing, testing, clean room environment, quality control, distribution and inventory control services to GTG device companies. According to Stopanio, âEURœThis will provide Scorpion Medical with an excellent opportunity to expand its medical device manufacturing business. We believe that the $100 billion U.S. medical device industry and the $4.2 trillion worldwide healthcare market provide tremendous manufacturing growth opportunities.âEUR

World Waste Management has designed and patented an environmentally friendly new product: a manure composting system that has 10 years of design and development behind it. Stopanio stated, âEURœWith ground water contamination a hot issue, this system is designed to take an environmentally harmful substance and transform it into a harmless composted material that can then be used as fertilizer. This is a solution for a problem that is prevalent in places that have large populations of people near farm animals. We believe that this proprietary composting system is the only technology of its kind and includes compacting machines that are already in limited production. Our prototypes are receiving positive reviews from customers in potential markets such as horse racing tracks / casinos, as well as large horse and cattle farms.âEUR Prototypes are currently being tested and the full manufacturing phase is projected to start later this year.

Scorpion named a Finalist by SFMA

Scorpion Performance was recently named a Finalist for the 2009 Manufacturer of the Year Award presented by the South Florida Manufacturers Association (SFMA). Being one of three Finalists out of 3500 members is truly an outstanding feat for Scorpion, especially because this was the CompanyâEUR s first entry into the annual competition. According to SFMA Lead Judge Phil Centonze, âEURœOther companies have entered for six or seven years before being named a Finalist.âEUR Finalists were selected based on a stringent evaluation process that addressed six particular criteria points: Leadership; Strategic Planning; Workforce Focus; Process Management; Customer & Market Focus; and Measurement, Analysis & Knowledge Management. Scorpion is very proud to have received this award and the professional industry recognition that comes with it.

Forward-Looking Statements

Statements in this press release other than statements of historical fact, including statements regarding the Company's plans, beliefs and estimates as to projections are âEUR˜forward-looking statements.âEUR Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the Company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the Company's judgment as of the date of this release. The Company does not undertake to update, revise or correct any forward-looking statements.

For more information contact Scott Reynolds, Vice President Marketing, Scorpion Performance, Inc. at 954-779-3600. Visit the Scorpion Performance web site at http://scorpionperformance.com


ELSE PRESS RELEASES FROM THIS DATE:

Address Logics says address hygiene for the small to medium size business is being overlooked

2010-09-26
Gone are the days of spreadsheets with thousands of addresses and a primitive mail merge system for printed labels or envelopes. Today small and medium sized businesses with lists of thousands or even millions of subscribers are looking for ways to standardize and update their mailing lists through address cleansing. One web-based company is making that happen. AddressLogics.com, a company which specializes in address hygiene ( http://www.addresslogics.com ), says that address cleansing and validation is a great tool for businesses of all shapes and sizes who utilize ...

Martingale goes full steam ahead as two train sites join the Group

2010-09-26
ModelTrainForum.com and LGBWorld.com are joining Martingale's existing sites, filling the model-train gap in the Groups portfolio and helping to build ToyPedia, Martingale's catalogue listing every toy or model ever made in all every variant. This comes after Diecastaircraftaviation.com, DinkyToysBlog.com, HobbyTalk.com, Scale600.com, TinplateTrainTimes.com, Wings900.com and others have joined this year. John McCormick, founder of the two sites says "I just love the plans for the new model and toy platform that Martingale is building and as a train collector I am great ...

Top One SEO Has Launched SEO Pricing Exclusively on their Website

2010-09-26
Top One SEO is a leading company in the provision of search engine optimization services to business and individual customers. They have now introduced their SEO pricing on the pages of their website as part of their transparency policy. This innovation provides customers with better knowledge and more detailed information to allow for more productive and cost-efficient planning. On the dedicated web page, http://www.toponeseo.com/services/seo-pricing/, present and potential customers can find a full presentation of each of the 3 service packages offered by Top One ...

Documentary ONE VOICE to open at Hawaii International Film Festival 10/15/10

2010-09-26
Pacific Islanders in Communications (PIC) presents One Voice, a documentary about ten Kamehameha Schools student song leaders on their journey to Song Contest night. One Voice makes its island debut at the Hawaii International Film Festival in October. Funded by PIC, One Voice follows the students as they prepare for the Song Contest, detailing their contributions to preserving and perpetuating the Hawaiian culture. The film also explores their lives outside the classroom, visiting them in their homes and revealing their hopes and dreams for the future. One Voice ...

Top Grade Construction Products from New SomaFix Website

2010-09-26
SomaFix has recently launched a brand new website which provides you with a quick and easy way to order top grade construction products online. Ordering Online Ordering online is a convenient way to make sure you have the materials and tools you need onsite to complete your projects. Your order will be delivered straight to your door so you will not have to spend time going out to pick up new materials. Fast delivery is offered for all orders in the mainland UK so you can quickly get what you need onsite to avoid any delays. With the SomaFix ( http://www.somafix.co.uk ...

A1 LCS reports massive uplift in installer registrations

2010-09-26
A1 Low Carbon Solutions (LCS) has seen a dramatic increase in installer registrations to its Fuel Switching Scheme since the launch of its awareness campaign last month. The increase supports A1's claim that the fuel switching scheme really has been the industry's 'best kept secret'. To date, the scheme has seen over a seven fold increase in the number of installer registrations. A1 hopes that this momentum continues as more installers recognise the competitive edge the scheme can bring to their business, and discover just how easy it is to register. The A1 ...

11:11...Time for a New Brand of Spirituality

2010-09-26
Simran Singh, publisher of 11:11 Magazine has been a strong voice of empowerment, providing creative discussions for personal evolution. As a visionary who spurs deep conversations, introspective glances and powerful insight, Singh has taken to the air waves with 11:11 Talk Radio, hosted by Voice America, the single largest producer of internet talk radio programming in the world. The quickly rising brand of 11:11 brings powerful dialogues of conscious change to mass audiences through its online syndicated format. Singh interviews leaders of new thought, spirituality, self-help ...

Top Things to do in Italy on City-Discovery.com

2010-09-26
Over 170 vacation ideas in Florence, Milan, and Venice are featured on City-Discovery.com. The travel website announced that its selection of activities are good for all seasons, combining classical city sightseeing tours and museum visits in Florence with interesting cultural activities such as ghost walks and panoramic boat tours in Venice, wine tasting and shopping in Milan, and glass blowing shows in Murano. Most itineraries are composed of half to full day excursions to ancient and popular landmarks. An experienced tour director provides additional travel assistance. ...

Top Doc America Launches Innovative Health Care Service That Allows Patients to Meet their Doctor or Dentist Online Through Video Interviews

2010-09-26
For the First Time Patients Can Meet their Health Care Provider through Video Interviews before they Book their Appointment Online Having trouble finding a health care provider? In January, Top Doc America will launch an online health care service for residents in New York, Boston, Los Angeles, San Francisco and San Diego where patients can meet their health care provider through streaming video interviews and they can book their appointment online for free. Top Doc America equips patients with the tools to find the right health care provider. Patients can search ...

Jane Out of the Box Article Unveils Benefits of Attending a Carefully-Chosen Event

2010-09-26
Every year, business building "experts" host thousands of events across the country and all over the world. Each event costs hundreds or thousands of dollars. A savvy woman business owner who decides to make the investment in such an event must choose the event wisely to ensure she gleans the maximum benefit. Attending Events: A Crucial Element in Growing a Small Business is the latest article by entrepreneurial expert Michele DeKinder-Smith. The article unveils three key reasons a woman business owner must consider attending an event - and the benefits of doing so. ...

LAST 30 PRESS RELEASES:

Pioneering neuroendocrinologist's century of discovery launches major scientific tribute series

Gendered bilingualism in post-colonial Korea

Structural safety monitoring of buildings with color variations

Bio-based fibers could pose greater threat to the environment than conventional plastics

Bacteria breakthrough could accelerate mosquito control schemes

Argonne to help drive AI revolution in astronomy with new institute led by Northwestern University

Medicaid funding for addiction treatment hasn’t curbed overdose deaths

UVA co-leads $2.9 million NIH investigation into where systems may fail people with disabilities

With the help of AI, UC Berkeley researchers confirm Hollywood is getting more diverse

Weight loss interventions associated with improvements in several symptoms of PCOS

Federal government may be overpaying for veterans’ health care in Medicare Advantage plans

Researchers awarded $2.5 million grant to increase lung cancer screenings in underserved communities

New trigger proposed for record-smashing 2022 Tonga eruption

Lupus Research Alliance announces Lupus Research Highlights at ACR Convergence 2024

Satellite imagery may help protect coastal forests from climate change

The secrets of baseball's magic mud

Toddlers understand concept of possibility

Small reductions to meat production in wealthier countries may help fight climate change, new analysis concludes

Scientists determine why some patients don’t respond well to wet macular degeneration treatment, show how new experimental drug can bridge gap

Did the world's best-preserved dinosaurs really die in 'Pompeii-type' events?

Not the usual suspects: Novel genetic basis of pest resistance to biotech crops

Jill Tarter to receive Inaugural Tarter Award for Innovation in the search for life beyond earth

Survey finds continued declines in HIV clinician workforce

Researchers home in on tumor vulnerabilities to improve odds of treating glioblastoma

Awareness of lung cancer screening remains low

Hospital COVID-19 burden and adverse event rates

NSF NOIRLab astronomers discover the fastest-feeding black hole in the early universe

Translational science reviews—a new JAMA review

How the keto diet could one day treat autoimmune disorders

Influence of tool corner radius on chip geometrical characteristics of machining Zr-based bulk metallic glass

[Press-News.org] Scorpion Performance exceeding 2010 revenue forecast, signs Spartan Securities as Market Maker
Scorpion Performance, Inc. is pleased to report that it is on track to meet or exceed its revenue forecast and anticipates closing the 2010 fiscal year at an estimated $1.2 million profit.