Science & Technology
Science and Technology
Science and Technology
Wed, January 21, 2009 National Automation Services, Inc.: National Automation Services, Inc. Announces Comments Received From the SEC; "Eye on A
LAS VEGAS, NV--(Marketwire - January 21, 2009) - National Automation Services, Inc. ([ www.nasautomation.com ]) (
Jeremy Briggs, Chief Accounting Officer of NAS, stated: "We expected comments from the SEC and in fact they are all minor in nature. We have to hold conference calls with our SEC legal Counsel and our external Auditor to answer each comment in detail. We project that it should take no longer than a week to accomplish this task.
"Once we resubmit our answers, we can model the application to the NASD to reflect these comments so that they mirror each other. Technically, we can submit this application the day we respond to the SEC. This is exciting as we have been anxious to move off of the Pink Sheets and onto the Bulletin Board."
"Eye on America" filming of NAS has been posted on the Company Website, [ www.nasautomation.com ], and can be viewed by accessing the sites home page under "Eye on America." This footage is the raw version of the filming as post editing is being completed at the studio. Once completed, the segment will be put on the calendar for national cable spots in 6-8 weeks.
Stay up-to-date with current events by joining National Automation Services' E-News Connection email list. Join by clicking the following link: [ www.nasautomation.com ] or by contacting Leah Vigil, NAS Marketing Manager: Email [ lvigil@nasautomation.com ] Phone: 702-642-7720
ABOUT NATIONAL AUTOMATION SERVICES, INC.
From Hand Production to Automation
Before the Industrial Revolution, virtually all goods were made by hand. With the Industrial boom of the 1900s, the automation and controls industry was born to improve the quality and reduce the costs of tedious, repetitive tasks in the industrial plants.
Immediately after World War II, computers were born, almost entirely for scientific purposes. By the early 60s, computers began to make their way rapidly into process control and production. Automated assembly lines took on more and more tasks, allowing for an increasing number of automated processes and adjustments. By eliminating tedious tasks usually performed by hand, the owners of a plant realized higher quality and more output which improved not only quality but competitiveness as well.
Today's Markets
Automation touches our lives without notice, from the food we eat, to the clothes we wear, to the building materials we use; and almost anything else we consume or come in contact with.
Accordingly, the markets of National Automation Services, Inc. are vast. They include waste/water treatment, airport security systems, bottling plants, power plants, metals, mining, breweries, food processing, tire making, textiles, plastics, and virtually all production activities.
Although there are a handful of very large automation and controls companies, the industry is highly fragmented with about 286 companies of modest size in the U.S. These companies are privately owned, local in nature, and total approximately $32 billion in annual gross sales.
A handful of larger automation companies dominate the market as they offer national, as well as worldwide, support for the Corporate and Government clients they serve. In total the automation industry in the U.S. exceeds the $400 billion mark each year, largely serviced by this handful of firms.
Where We Are Going
NAS intends to build a nationwide company through acquisitions and internal growth in this fragmented market. We believe that our growing company will retain healthy margins and produce attractive increases in earnings per share during the period of this Plan. Our estimate is that we will immediately produce cost savings of 12-15% on each acquisition, thereby driving consolidated EBITDA and earnings per share. Furthermore, NAS, by utilizing the expertise of the group, the sharing of national contracts, and proven revenue enhancement techniques, has the goal of doubling the gross sales of each acquisition in the first 12 months of the date of each acquisition.
The Company currently focuses on:
Industrial Automation and Control. NAS has an experienced staff of electrical and control engineers, as well as project managers, with experience in industrial automation and controls. The Company's business is currently focused in Nevada, Arizona, and Utah, but it intends to expand through internal growth and acquisitions throughout the U.S. during 2008.
Automation Manufacturing. The Company is a certified Underwriters Laboratories Panel fabrication facility. This nationally recognized regulatory body provides NAS with significant marketplace credibility for custom control panel assembly and fabrication to its clients.
FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the automation controls industry, the positioning of NAS in the market, the ability to integrate acquired companies and technology, the ability to retain key employees, the ability to successfully combine product offerings and customer acceptance of combined products, general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems, and whether NAS can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
