NetComposites
Airtech

Glassmaster Fourth Quarter & Year-End Results

23 November 2000

Glassmaster Company reported sales for the year ended August 31, 2000 were $21,546,782, an increase of 2.5% when compared to last year. The net loss for the year was $635,814 compared to a net loss of $995,984 last year. Composites Division sales declined 74% this fiscal year compared with the prior year-to-date period due to discontinued product lines and the sale of the marine antenna business. Sales have been slow for the new product line, The Composite Modular Building System, however, in January, 2001, a major industrial supply company, with nationwide distribution, will include this product line in its 2001 catalog and we expect sales to increase as a result of the additional exposure. Glassmaster Company is a Lexington, South Carolina-based processor- fabricator of thermoplastic and thermoset plastic materials, where it manufactures extruded monofilaments including sewing thread, filaments for papermakers fabrics, trimmer, and fishing lines and specialty fiberglass products including the Glassmaster Composites Modular Building System(TM).






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