LAS VEGAS, May 21, 2026 /PRNewswire/ -- CirTran Corporation (OTC: CIRX), a diversified consumer products company specializing in the manufacturing and distribution of HUSTLER®-branded products, today announced financial results for the first quarter ended March 31, 2026. The Company achieved a landmark quarter, reporting net income of $2,220,701, or $0.45 per share, compared to a net loss of $155,436, or ($0.03) per share, in the prior-year period.
Net sales reached $1,161,353 for the first quarter of 2026, up 152% from $460,816 in the same period last year. The growth was driven by increased demand for the Company's vapor product line and expanded retail distribution. Gross profit grew 71.4% to $463,382, up from $270,294 in the prior-year quarter, reflecting a 39.9% gross margin.
In a milestone achievement, CirTran generated income from operations of $36,122, compared to an operating loss of $43,273 in the first quarter of 2025-marking the Company's turn to operating profitability. Total operating expenses increased just 36.3% to $427,260, well below the 152% revenue growth rate, demonstrating strong operating leverage. Employee costs remained essentially flat at $130,020 (up only 0.9%), while the 61.0% increase in selling, general, and administrative expenses to $297,240 reflects strategic promotional investments to support higher sales volumes.
Net loss from continuing operations narrowed 39.3% to $65,737, from $108,272 in the prior-year quarter. The Company also recognized income from discontinued operations of $2,286,438, driven by the extinguishment of $2,324,279 in time-barred debt obligations. Together, these factors produced net income of $2,220,701 ($0.45 per share), compared to a net loss of $155,436 ($0.03 per share loss) in the first quarter of 2025.
"This was a defining quarter for CirTran," said Iehab Hawatmeh, Chairman and Chief Executive Officer. "We turned the corner to operating profitability, our revenue more than doubled for the second consecutive comparable period, and we achieved meaningful net income. The extinguishment of legacy debt obligations further strengthened our financial position. We are building on strong momentum and remain focused on scaling our HUSTLER®-branded product lines to drive sustained, profitable growth."
ABOUT CIRTRAN CORPORATION
CirTran Corporation (OTC: CIRX) Celebrating its 32nd anniversary, CirTran has evolved from its origins as an electronics contract manufacturer into a global producer and distributor of products serving the adult lifestyle and entertainment marketplace. Leveraging strategic partnerships and targeted initiatives, the Company continues to diversify its product portfolio and expand its international footprint. With a renewed focus on innovation and market responsiveness, CirTran is building a platform for sustainable growth in high-demand consumer segments. For more information, visit the Company's SEC filings at www.sec.gov.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update forward-looking statements. Past performance is not indicative of future results. |
SOURCE CirTran Corporation
