Tango Incorporated Secures Contract with Global Apparel and Footwear Company
PORTLAND, Ore.
Tango Incorporated
Todd Violette, 403-228-6962
todd@tangopacific.com
or
Equitilink, LLC
Investor Relations, 877-788-1940
Tango Incorporated (OTCBB:TNGO) announced today that it has completed the initial shipment for its new client -- a well-known, global apparel and footwear company -- whose name the Company has elected to not disclose at this time for competitive reasons.
This particular client was brought on board by Tango's new executive sales team, which was formed specifically to increase the Company's revenue in 2004. The client has indicated to Tango Pacific, Tango Incorporated's garment manufacturing subsidiary, that it is interested in purchasing over $705,000 worth of production per quarter, renewable for several quarters.
According to Todd Violette, Chairman and COO of Tango Incorporated, "The significant turnaround that we initiated last year and the Company's investment in a new executive sales team is beginning to pay off, as is illustrated by the landing of this new client, which ranks among the top five in the apparel and footwear business. I'm confident that our new team will continue to parlay the strong reputation Tango Pacific has established in the screenprinting industry into more business and increased revenues. The Company has taken the necessary steps to bring increased value to our shareholders. This new client, along with other new business that we are anticipating, has moved us closer to the Company's goal of being profitable by the fourth quarter of our FY2004."
About Tango:
Tango Incorporated is a leading garment manufacturing and distribution company, with a goal of becoming a dominant leader in the industry. Tango pursues opportunities, both domestically and internationally. Tango provides major branded apparel the ability to produce the highest quality merchandise, while protecting the integrity of their brand. Tango serves as a trusted ally, providing them with quality production and on-time delivery, with maximum efficiency and reliability. Tango becomes a business partner by providing economic solutions for development of their brand. Tango provides a work environment that is rewarding to its employees and at the same time has an aggressive plan for growth. Tango is currently producing for many major brands, including Nike, Nike Jordan and Chaps Ralph Lauren.
For more information visit: www.tangopacific.com
Safe Harbor:
This news release does contain forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This news release will make statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of Tango Incorporated to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. There is no assurance that Tango Incorporated will not default on its agreements and any default could have a potential impact on the value of the company. Other risks include the small size of Tango Incorporated as compared to many of its competitors, the need for additional capital, dependence on key personnel, Tango Incorporated's ability to win additional contracts, risk associated with the fashion industry, commodity risk, employment standards risk, the effect of new laws or regulations relating to the business of Tango Incorporated, and economic conditions.
