l Urecoats Industries, Inc. has reported first quarter sales of $245,466 for the three-month period ended March 31. The company said no revenues were generated in the corresponding period in 2000.
“With the launch of our local roofing and waterproofing business and commencement of initial product manufacturing operations in January, Urecoats Industries has emerged from its development stage into a revenue generating company that anticipates a sustainable pattern of future growth on a quarter-by-quarter basis,” said Timothy M. Kardok, Urecoat’s president and chief operating officer. “The key point investors should reflect upon when reviewing our first quarter results is that the new executive management team did what it said it was going to do, which was introduce our revolutionary product into a major strategic market and generate revenues. We expect to become a formidable player in the roofing and waterproofing industry and the revenues generated in the first quarter confirm the value of the company’s entry into this key business sector with a product that is being well-received by our customers.”