SALT LAKE CITY -- CirTran Corp., a small contract manufacturer, projected its first-ever annual profit for fiscal 2005 on revenues of about $13 million, a jump of 45%. In a statement, founder and president Iehab J. Hawatmeh said the fourth quarter of fiscal 2005 "marked the seventh straight quarter of improvement or growth for the company, capping off the best year for CirTran since it became a public company in 2000."

He said that with "auditors still finalizing results," CirTran expects to show a profit for the fiscal year as compared to a loss of $658,322 for fiscal 2004. Hawatmeh also said that CirTran expects to report revenues of approximately $13 million, up 45% over $8.86 million reported for fiscal 2004.

CirTran posted sales of just $1.2 million for fiscal 2003. The company has since added manufacturing operations in China, focusing on direct response/sold-on-TV marketplace, IT and specialty manufacturing.

The company currently has its all-time high backlogs, CirTran said.