Bantec's Howco Awarded 510 Defense Logistics Agency (DLA) Contracts in April and May
Bantec, Inc. (OTC-PINK: BANT) announced that its subsidiary, Howco, received 510 Defense Logistics Agency (DLA) contracts in April and May 2022. Chairman and CEO Michael Bannon highlighted a significant increase in contract awards, including a long-term contract valued at $250,000 for exhaust pipes. This growth indicates an upward trend in sales that exceeds projections, suggesting a positive outlook for revenue growth in the upcoming Q3 and Q4.
- Howco received 510 DLA contracts.
- Total contract value includes a $250,000 long-term contract.
- Increased contract awards indicate strong sales growth.
- None.
LITTLE FALLS, NJ, June 21, 2022 /PRNewswire/ -- Bantec, Inc. (OTC-PINK: BANT) ("Bantec" or the "Company"), Bantec, Inc., a product and services company, announces that its subsidiary Howco received 510 DLA contracts in April and May.
Michael Bannon, Bantec's Chairman and CEO stated: " Contract awards increased significantly during April and May. One long term contract for exhaust pipes totals a quarter of a million dollars. The continued upward trend in sales exceeds our projections and bodes well for increased revenue in Q3 and Q4."
About Bantec
Bantec, Inc, a product and services company, through its subsidiaries and divisions sells to facility managers, engineers, maintenance managers, purchasing managers and contract officers who work for hospitals, universities, manufacturers, commercial businesses, local and state governments, and the US government. Our difference that matters consists of establishing lifelong customer and supplier friendships, responding immediately to our customers' needs, and providing products and services through a highly technically trained, motivated, and incentivized workforce.
Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses, or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: "plans, "anticipates," "expects," "believes" or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our Form 10-K filed with the U.S. Securities and Exchange Commission.
Contacts:
Michael Bannon
Chairman & CEO
mike@bantecinc.com
(203) 410-8924
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SOURCE Bantec, Inc.
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