RTI Reports Figures for Quarter

Published January 18, 2002

Rubber Technology International, Inc. announced that unaudited gross revenues for fiscal 2001 fell short of projected revenues but exceeded $2.3 million.

Rubber Technology International, Inc. announced that unaudited gross revenues for fiscal 2001 fell short of projected revenues but exceeded $2.3 million.

Annual sales increased more than 200 percent from fiscal 2000 revenues.

Trevor Webb, president of Rubber Technology International, stated that fourth quarter results were below the company's expectations, substantially due to the mid-September transfer of more than 3.2 million pounds of asphalt rubber shipments into spring of 2002 and the cancellation of approximately one million pounds of rubber deliveries.

These events have dramatically diminished the company's cash position, postponed the acquisition of equipment and delayed the operational preparation of the company's sand and gravel division, in addition to presenting concerns as to the company's cash flow through the winter months.
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