ZAP (NYSE arca: ZP)
Sales for XEBRA Electric Car and Other ZAP Micro-Cars Soar in 2nd Quarter
SANTA ROSA, Calif.–(BUSINESS WIRE)–Aug. 17, 2006–Automotive pioneer ZAP (NYSE Arca:ZP) will introduce a new vehicle on August 24th as the next milestone in its business plan of creating a brand and distribution network for advanced fueled micro-cars, a market the Company says has driven sales up 376 percent this past quarter on rising oil prices.
ZAP CEO Steve Schneider said that the Company is still planning out the details of the announcement, but hinted that the new ZAPCAR(TM) would be designed to open markets previously untapped in the auto industry.
Schneider noted this week that ZAP revenues for the first six months of 2006 have surpassed revenues for all of 2005. Second quarter revenues for the three months ended June 30, 2006 were $4.4 million compared to $923,000, an increase of $3.4 million or 376 percent for the same period a year ago. ZAP’s quarterly results were filed earlier this week. For more information, visit http://www.zapworld.com.
About ZAP
ZAP stands for Zero Air Pollution. Its mission is to be the leading distribution portal of socially responsible and environmentally sustainable, advanced technology vehicles. ZAP is a pioneer at the forefront of electric and other fuel efficient transportation and believes that helping our stakeholders act responsibly, both with regards to our environment and the oil crisis, can go hand-in-hand with generating appropriate returns on our investments. For more information, visit http://www.zapworld.com.
Forward Looking Statements
Statements in this press release that relate to future plans or projected results of ZAP are ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended by the Private Securities Litigation Reform Act of 1995 (the “PSLRA”), and Section 21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all such statements fall under the ’safe harbor’ provisions of the PSLRA. ZAP’s actual results may vary materially from those described in any ‘forward-looking statement’ due to, among other possible reasons, the continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence on third-party suppliers, intellectual property rights, and the realization of any of the other risks described in ZAP’s Annual Report on Form 10-KSB, or in any of ZAP’s other filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to put undue reliance on forward looking statements.
Contact:
ZAP
Alex Campbell, 707-525-8658 ext. 241
acampbell@zapworld.com
Source: ZAP
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