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Element 21 Fishing Rods Revenues Increase 345%
Monday March 23, 11:00 PM
TORONTO, March 23, 2009 (GLOBE NEWSWIRE) -- Element 21 Golf Company (OTCBB:ETGF) (Frankfurt:BJQ), the leading manufacturer of advanced Scandium Alloy golf and biofiber fishing equipment, announced today that February 2009 revenues were 345% higher than the equivalent period in 2008. February 2009 continued January 2009 trend, which showed 350% increase over January 2008.
"The fact that the month of February was as strong as the month of January gives Element 21 confidence that we are showing significant sell through and continuing consumer demand. Element 21 fishing rods are currently being sold through over 500 store fronts. The market for the Element 21 line is expanding rapidly from the fresh water market into salt water market with the recent introduction of the Salty Carrot Stix(tm) line. Historically, U.S. fishing equipment sales increase during recession, and we are riding this wave with well priced cutting-edge technology," said Nataliya Hearn, President and CEO of Element 21.
About Element 21
Element 21 Sports Company's premier products are golf clubs and fishing poles made out of a Scandium and biofiber materials, which are lighter and stronger than Titanium, Graphite and Steel. Element 21's golf clubs have been used by renowned golf pros, such as the winner of the FedEx Cup in 2008.
Element 21 Sports Company has developed award winning fishing products. Element 21's Carrot Stix(tm) represents the latest in cutting edge technology, using a newly developed proprietary method of integrating nano-level cellulose bio-fibers into the rod. The fishing products recently were recognized as the "BEST OF SHOW" at the 2007 and 2008 ICAST show, the world's largest sports fishing show.
Element 21 Golf Company's revenue has been growing at an annualized growth rate of 343.3% and 705.5% for fiscal year 2006 and 2007, respectively. The three year average growth rate for the recent past is 203.9%.
Forward-Looking Statements.
Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively.
CONTACT: Acorn Management Partners, LLC
Investor Relations:
John R. Exley, III
Toll Free: 866-491-3739
678-368-4002
JRE@acornmanagementpartners.com
http://www.acornmanagementpartners.com
Element 21 Golf Company:
1-888-365-2121 ext 106
sales@e21golf.com
Media / Marketing:
Nigel DaCosta
1-416-362-2121 ext. 104
Nigel.Dacosta@e21sports.com
http://www.e21Sports.com
Source:Element 21 Golf
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