OTCBB: AGRT
AUSTIN, TX, Nov. 5 /PRNewswire-FirstCall/ - AGR Tools, Inc. (OTCBB: AGRT) is pleased to announce the preliminary revenue results of its wholly-owned subsidiary, AGR Stone & Tools USA, Inc. ("AGR USA"), for the three months ended September 30, 2010. During that time, AGR USA generated approximately $205,000 in revenue, which represents an increase of approximately 76% compared to the same period in fiscal 2009 when it was still a privately-owned Texas entity. All figures are unaudited, and will be included in AGR's upcoming quarterly report on Form 10-Q to be filed with the United States Securities and Exchange Commission.
"We are very happy with the preliminary unaudited results of AGR USA for the first three months of our fiscal year," commented Rock Rutherford, the President and CEO of both AGR and AGR USA. "The 76% increase demonstrates that we have expanded our business significantly since 2009 and we believe is indicative of our growth potential for the current year. With our recently-announced marketing campaign, website redevelopment and dealership expansions, we expect our revenue will continue to increase. We feel that our strategy of fulfilling back orders and creating new dealer and investor relationships will only serve to accelerate the pace."
About AGR Tools, Inc.
AGR Tools, Inc. is a public company with its common stock quoted on the OTC Bulletin Board under the symbol AGRT, and the Berlin and Stuttgart Stock Exchanges under the symbol LVSA. Its wholly owned subsidiary, AGR Stone & Tools USA, Inc. ("AGR USA"), is a contract manufacturer and distributor of tooling and accessories to the construction, building maintenance and demolition industries in the United States and Canada. AGR USA supplies more than 700 products through its stocking dealership network and website, including diamond based tools and adhesives, and it specializes in producing consumable tooling for the natural stone, engineered stone, concrete and masonry industries. Its goal is to provide its clients with superior quality products, excellent customer service and the most competitive prices in the diamond tooling industry. AGR USA has conducted extensive research and testing of its products, and uses the latest technologies to assure it is at the forefront of the diamond tooling industry.
More information on AGR and AGR USA can be found at: www.agrtools.com
Forward-Looking Statements:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See AGR Tools, Inc.'s filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE AGR Tools Inc.
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