USLG Experiences Significant Increase in 2022 Revenue Over 2021- Increased Growth Coming from Cortes Campers RV Sales

Rhea-AI Summary

US Lighting Group (OTC PINK:USLG) reported significant revenue growth, with total sales reaching $1,083,114 in 2022, a sharp increase from $67,000 in 2021. This surge was primarily driven by sales in Cortes Campers RV travel trailers and revenues from the new subsidiary, Futuro Houses, LLC. The company's CEO, Anthony Corpora, highlighted achievements in streamlining manufacturing and enhancing dealer partnerships. The first quarter of 2023 is anticipated to show continued positive growth, fueled by increasing consumer interest in RVs, particularly new models. For detailed financial insights, refer to the Annual Report on Form 10-K.

Positive

• Revenue increased to $1,083,114 in 2022 from $67,000 in 2021.
• Growth attributed to Cortes Campers RV sales and Futuro Houses revenues.
• Anticipation of increased revenue in the first quarter of 2023 compared to last year.
• Strengthening dealer network and consumer interest in new RV models.

Negative

• None.

EUCLID, OH / ACCESSWIRE / April 20, 2023 / US Lighting Group, Inc. (OTC PINK:USLG) ("USLG" or the "Company"), an innovative composite technology provider, today announced that it had revenues of $1,083,114 for 2022 resulting from an upsurge in Cortes Campers RV travel trailers sales. Its new startup company, Futuro Houses, LLC, also generated a portion of the revenue gain.

"We are thrilled with the outcome of the 2022 financial results," said Anthony Corpora, CEO and President of the USLG. "Thanks to our hard-working team, we exceeded our financial goals through leveraging resources, streamlining the manufacturing processes, building a stronger workforce, and beating production expectations. Total sales on December 31, 2022, were $1,083,114, far surpassing the prior year's level of $67,000. We anticipate that 2023 results for the first quarter will show a substantial increase over last year during the same period."

"Contributing to these gains is an increase in the number of dealers joining the Cortes Campers family along with the number of its 100% molded fiberglass RV travel trailers delivered to distributors across the country. There's a steady increase of consumer RV purchases fueled by the onset of summer and camping season. Another positive note is the tremendous interest in the planned 22-ft and the 27-ft models in Cortes Campers summer and year-end lineup."

For more information, including the Company's audited financial statements for the year ended December 31, 2022, please click here to review the US Lighting Group Annual Report on Form 10-K filed with the Securities and Exchange Commission.

About USLG

US Lighting Group (OTC PINK:USLG) has three subsidiaries which design and market various products: Cortes Campers, LLC, for molded fiberglass travel trailers and campers; Futuro Houses, LLC, for fiberglass houses; Fusion X Marine, LLC, for high-performance boats; and one subsidiary, Mig Marine Corp., which manufacturers composite products. The Company and its subsidiaries have manufacturing and R&D facilities in Cleveland, Ohio. For additional information: www.uslightinggroup.com

About Cortes Campers, LLC

Cortes Campers^TM is a revolutionary designer and marketer of state-of-the-art recreational vehicles, utilizing the highest quality marine materials to create lighter, stronger, and more durable RV travel trailers and campers. For additional information: www.cortescampers.com

About Futuro Houses, LLC

Futuro Houses^TM is an innovative designer and marketer of state-of-the-art molded fiberglass houses, employing the highest quality marine materials to create lighter, stronger, and more durable houses for off-grid, residential, and businesses. For additional information: www.futurohouses.com

Forward-Looking Statements

Certain statements in this news release, including, but not limited to, reference to distribution, demand, orders, sales goals, profitability, design effects, growth of the production and industries, may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. Statements included in this press release, other than statements of historical fact, are forward-looking statements. 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.

Investor Relations Contact:

Chris Witty
646-438-9385
cwitty@darrowir.com

SOURCE: US Lighting Group, Inc.

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FAQ

What were US Lighting Group's revenues for 2022?

US Lighting Group reported revenues of $1,083,114 for 2022.

What is driving US Lighting Group's revenue growth?

The revenue growth is primarily driven by increased sales of Cortes Campers RV travel trailers.

What are the expectations for US Lighting Group's 2023 first quarter?

US Lighting Group expects substantial revenue increases in the first quarter of 2023 compared to the same period last year.

How much did US Lighting Group earn in 2021?

In 2021, US Lighting Group earned $67,000.

What are the new products launched by US Lighting Group?

US Lighting Group has launched new 22-ft and 27-ft models of Cortes Campers.