Business
NexGen Holdings, Corp. Reports That Its Cameo Subsidiary Posted a Record 100% Increase in Booked Sales for the Month of May to Over $1 Million
NexGen Holdings, Corp. Reports That Its Cameo Subsidiary Posted a Record 100% Increase in Booked Sales for the Month of May to Over $1 Million.
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[{"type":"text","content":"\n \n \n NexGen Holdings, Corp. Reports That Its Cameo Subsidiary Posted a Record 100% Increase in Booked Sales for the Month of May to Over $1 Million\n \n \nNexGen Holdings, Corp. Reports That Its Cameo Subsidiary Posted a Record 100% Increase in Booked Sales for the Month of May to Over $1 Million\n \n MESA, AZ--(Marketwired - Jun 5, 2014) - NexGen Holdings, Corp. (PINKSHEETS: XGEN) announced today that its Cameo Pool subsidiary had reached a milestone by booking over $1,002,795 in contracts for the month of May which represents a nearly 100% increase over the same month in 2013 when the Company booked $502,537. Sales Bookings for the 5 months ended May 30th 2014 were $3,649,357 vs $3,166,086 for the same period last year which represents a nearly 16% year over year increase.\n Sales bookings are contracts executed by customers for building or remodeling their swimming pools. These bookings do not yet represent revenues which are recorded by the Company on a percentage of completion basis as these pools are built or remodeled. Under Generally Accepted Account Principals (\"GAAP\") the company will recognize the revenue from these bookings along with others in the pipeline over the next few months as these pools are built or remodeled.\n John Myers, CEO of both NexGen Holdings and NexGen Pools and Spas, stated, \"This is an important milestone for our shareholders as it demonstrates the effectiveness of our business plan. We are installing these same systems and procedures that have made Cameo so successful at our newest acquisition, Paddock Pools and will be able to add Paddock's products such as outdoor furniture to Cameo's offerings to further increase Cameo's sales and margins.\"\n Steven Vollaro, President of Cameo and the Director of Sales for NexGen Pools & Spas said, \"I'm very proud of the accomplishments of our team in reaching this milestone. It demonstrates our ability to increase both sales and margins through our focus on building value for all our stakeholders; customers, employees, vendors and of course our shareholders.\"\n Craig Maggi, President of Camelback Pools d/b/a Paddock Pools and Spas added, \"We have already hired some new sales personnel at Paddock to sell pool using the systems developed at Cameo and we are already starting to see the results.\"\n The Company announced that ...