Intellitronix Ships Product Valued at Over 1 Million Dollars in Q3 2020

Rhea-AI Summary

Intellitronix Corporation, a subsidiary of US Lighting Group (OTC:USLG), reported third quarter product sales exceeding $1 million, marking a historic high for the company. This achievement reflects a robust recovery in the supply chain amidst the pandemic, contributing to consistent monthly sales growth. CEO Paul Spivak highlighted plans for new product introductions, including the 4-IN-1 Energy Management Multifunctional System designed for RV manufacturers, alongside ongoing R&D in robotics utilizing AI. The company is strategically positioned for further growth in electronics.

Positive

• Third quarter product sales surpassed $1 million, the highest in company history.
• Consistent sales growth month-over-month during the pandemic.
• Improved supply chain dynamics aiding product deliveries.
• Plans for new product introductions to expand market offerings.

Negative

• None.

Third quarter shipped product sales surpasses $1,000,000 dollars, the highest ever in the history of Intellitronix.

EUCLID, Ohio, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Intellitronix Corporation, a wholly-owned subsidiary of the US Lighting Group, Inc. (OTC:USLG) and a global leader in automotive electronics, announced today that the company exceeded its third quarter expectations for shipping product out the door valued at over one million dollars.

“Intellitronix is very excited that we have record sales figures for product shipped to customers over $1,000,000 in the third quarter of 2020. This is a phenomenal feat for the company given we are still in the middle of a global pandemic. We beat out the first two quarters of shipped product sales with one record-breaking month after another. Attributing to this success is the turnaround we are starting to see with our supply chain, which has helped immensely,” said Paul Spivak, CEO of the US Lighting Group. “Our vendors are working hard to provide us with components needed to manufacture our automotive gauges. In addition, we will be complementing our automotive portfolio with new product introductions to the marketplace to meet demands from customers.”

New endeavors at Intellitronix include the 4-IN-1 Energy Management Multifunctional System (EMMS) for OEM RV manufacturers with an innovative energy resource management system. The company continues its research and development efforts in robotics for the promotional industry utilizing artificial intelligence. intellitronixgauges.com

About U.S. Lighting Group, Inc. and Intellitronix Corp

US Lighting Group (OTC:USLG) and its wholly owned subsidiary, Intellitronix Corporation, are leading manufacturers of electronics, supplying growth sectors such as high-tech robotics utilizing our own in-house proprietary artificial intelligence, LED lighting, custom designed LED products, microprocessor-controlled LED instrumentation, custom private labeled electronics, automotive, RV, and marine electronics. The company has manufacturing and R&D facilities in Cleveland, Ohio with an international sales distribution network. uslightinggroup.com

Forward-Looking Statements

Statements included in this press release, other than statements of historical fact, are forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.

Contact
US Lighting Group
1148 East 222^nd Street
Euclid, OH 44117 USA
T: +1 216.896.7000 ext. 207
shareholder-relations@uslightinggroup.com

FAQ

What were the third quarter sales figures for US Lighting Group (USLG)?

US Lighting Group's subsidiary, Intellitronix, reported over $1 million in product sales for the third quarter.

What is the significance of the $1 million sales milestone for US Lighting Group?

The $1 million sales figure represents the highest product shipments in the history of Intellitronix, indicating significant growth.

What new products is US Lighting Group planning to introduce?

US Lighting Group plans to introduce the 4-IN-1 Energy Management Multifunctional System for OEM RV manufacturers.

How is US Lighting Group addressing supply chain issues?

US Lighting Group has seen improvements in its supply chain, which has positively impacted product deliveries.