DELTA, BC, Aug. 23 /CNW/ - George Graham, President of ATI AirTest Technologies Inc. ("AirTest", TSXV: AAT) provides an update to shareholders on activities in its existing business. For the first time in its history the Company has enjoyed three consecutive profitable months with positive cash flow. Sales for May-July 2010 were up 46% over the same period last year, with July alone being more than double July, 2009.
Graham feels the Company can look at the future with confidence in its traditional business. "We now have repeat business accounts providing enough monthly revenue to assure ongoing profitability, and with the paradigm shift of buildings converting to CO2 demand controlled ventilation we expect this base of repeat business to continue to grow."
The Company is supplying CO2 sensors for the ongoing energy retrofit of stores for a major pharmacy chain in Canada, for a large department store chain across United States, and commencing first week of September, two supermarket chains in Northwest United States and a big box store chain in California. Also AirTest is supplying a large number of sensors for an initiative in Southern California where retrofits of theaters, concert halls, bowling alleys, casinos and other recreational activity buildings are being subsidized by the major California Utilities including PGE, Southern California Edison, Sand Diego Gas and Electric and the California Energy Commission. This is the first large subsidized initiative of its type and signals the start of a dramatic upswing in the CO2 DCV program.
About AirTest: AirTest Technologies (www.airtest.com) is a Green-Tech company specializing in sensors that improve commercial building operating efficiency and at the same time create energy savings. These sensors are all based on technical innovations developed in the last ten years, and comprise a growing second wave of energy saving technologies that will make a significant contribution to the enabling better control of buildings to ensure energy savings and sustainability. AirTest offers its products to leading-edge building owners, contractors and energy service companies targeting the buildings market. AirTest also provides energy cost reduction solutions to building equipment and controls manufacturers who incorporate AirTest sensor components in their products.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE AIRTEST TECHNOLOGIES INC.
For further information: For further information: Mr. George Graham, President, Phone: (604) 517 3888, Fax: (604) 517 3900, Email: firstname.lastname@example.org, Website: www.airtesttechnologies.com