FAIRFAX, Va., May 9, 2012 /PRNewswire/ -- Innolog Holdings
Corp. (OTCBB: INHC) today announced that its wholly owned
subsidiary, Innovative Logistics Techniques, Inc. (INNOLOG) has
increased its backlog in contracts' revenue compared to the same
time last year. Furthermore, Innolog Holdings expects to
issue first quarter fiscal year 2012 operating and financial
results on or about May 21st.
As of May 1st, Innolog now
projects overall company backlog of $34,767,144, primarily focused within our
Department of Defense government contracts. Additionally, Innolog's
funded backlog, based on new contracts within our Navy Division as
well as existing Air Force and Army Division contracts, is
$12,761,487.
Richard Stewart, INNOLOG's
President, stated, "We are pleased to show improvements and growth
in key business segments within the Company. As we expand our
products and services to city, state and governmental agencies, we
anticipate growth to continue through existing and new clients.
Additionally, we are monitoring our expenses, and with the backlog
numbers, we are better prepared to implement budgets which we
expect will allow us to improve top and bottom line results through
prudent management decisions."
The Company expects to issue first quarter fiscal year financial
and operating results on or about May 21,
2012. Management expects revenues will exceed Company
projections by more than 5%.
About Us
Innolog Holdings Corporation was formed in March 2009 as a holding company for the purpose
of acquiring businesses that provide services primarily to federal
government entities. Our primary subsidiary, Innovative
Logistics Techniques, Inc. (www.innolog.com), was founded in 1989
to help the Department of Defense address complex logistics
business problems. The company is a federal government contractor
that brings world-class solutions and leading edge process oriented
thinking to the U.S. military, civilian agencies and state and
local governments to provide solutions to complex logistics
problems.
Additional information is available at
www.innologholdings.com.
Statements in this press release that are not statements of
historical or current fact, such as the expectation of future
revenue growth and profitability, constitute "forward-looking
statements". Such forward-looking statements involve known and
unknown risks, uncertainties and other unknown factors that could
cause Innolog's actual results to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. Factors that could cause
Innolog's results to be materially different from the
forward-looking statements include whether Innolog will be able to
find financing when and as it needs it and whether Innolog's
revenues will eventually exceed its expenses. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in
Innolog's reports filed with the Securities and Exchange
Commission, which are available for review at
http://www.sec.gov/.
Contact:
Investor Relations
Andrew Barwicki
516-662-9461 / andrew@barwicki.com
SOURCE Innolog Holdings Corp.