JENSEN BEACH, Fla., April 3 /PRNewswire-FirstCall/ -- The 2007 Atlantic hurricane season should be "very active," with nine hurricanes and a good chance that at least one major hurricane will hit the U.S. coast, a top forecaster predicted Tuesday.
Forecaster William Gray expects 17 named storms and five major hurricanes this year. The probability of a major hurricane (111+ mph) making landfall on the U.S. Atlantic coast this year is 74%, compared to an average of 52% over the last 100 years.
The Atlantic hurricane season, which runs from June 1 to Nov. 30, averages 9.6 named storms, 5.9 hurricanes and 2.3 intense hurricanes per year.
2006 was considered a "near normal" hurricane season, but no storms made landfall with the U.S. Atlantic coast, only the 11th time that has occurred in the last 62 years.
An above average hurricane season will cause sales of Storm Depot's products to grow significantly. The recently launched retail stores will cause this growth to accelerate further. Storm Depot International has a dealer network on both Florida coasts and is a leader in the hurricane protection market. During the last fiscal year, Storm Depot had unaudited revenue of over $2.4 million in sales and $.465 million in earnings before taxes. Storm Depot has forecast revenues for 2007 that would more than double 2006 results. Sales will begin to escalate this quarter as people prepare for the hurricane season.
On March 14, 2007 Techlabs, Inc. (BULLETIN BOARD: TELA) announced that it had agreed in principle to acquire Storm Depot International from Eline Entertainment (Pink Sheets: EEGI)
About Techlabs
Techlabs (BULLETIN BOARD: TELA) is a developer of emerging businesses. The Company's primary focus is centered on developing business opportunities in the Caribbean basin and South America, including its planned acquisition of a minimum of a 51% interest in Venezuelan-based Corporacion SportAlum C.A, which specializes in the fabrication, sale and installation of sport seating solutions for stadiums, arenas and other sports and entertainment facilities around the world.
This press release contains forward-looking statements, some of which may relate to Techlabs, Inc. and which involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Techlabs, Inc.'s filings with the Securities and Exchange Commission.
© 2007 PR Newswire
