TPO Tarpon Industries

Tarpon Industries, Inc. (AMEX:TPO), a manufacturer and distributor of structural and mechanical steel tubing and engineered steel storage rack systems, today announced that it expects to report record revenue in its second quarter ended June 30, 2006. Revenue in the second quarter is expected to exceed $20 million, well ahead of the prior record of $17 million that was achieved in the first quarter of 2006. The Company also expects to report significant progress in the quarter towards its milestone of achieving profitability on an operating basis. "We are pleased with the improved results to date in the second quarter," said James W. Bradshaw, Chairman and Chief Executive Officer. "All of our operating divisions contributed to the improvement over first quarter levels. With our new management team in place, including the addition of our new chief financial officer as well new leadership at the plant level, we are optimistic that we can further grow the business while we focus on improved efficiency and expense control throughout the organization." Mr. Bradshaw added, "While the Company put a program in place to reduce expenses in the first quarter, we have recently expanded our cost cutting initiatives. We strongly believe that this second round of reductions will put us on track to drive the business to profitability." Mr. Bradshaw was appointed to his post as Chief Executive Officer in April 2006. The Company expects to report results for its second quarter ended June 30, 2006 in mid-August. Tarpon Industries, Inc. Tarpon Industries, Inc., through its wholly owned subsidiaries within the United States and Canada, manufactures and sells structural and mechanical steel tubing and engineered steel storage rack systems. Through an aggressive acquisition-driven business model, the company's mission is to become a larger and more significant manufacturer and distributor of structural and mechanical steel tubing, engineered steel storage rack systems and related products. For more information, please visit Tarpon's website at http://www.tarponind.com. Forward-Looking Statements Certain statements made by Tarpon in this presentation and other periodic oral and written statements, including filings with the Securities and Exchange Commission, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, as well as statements which address operating performance, events or developments that we believe or expect to occur in the future, including those that discuss strategies, goals, outlook or other non-historical matters, or which relate to future sales or earnings expectations, cost savings, awarded sales, volume growth, earnings or a general belief in our expectations of future operating results, are forward-looking statements. The forward-looking statements are made on the basis of management's assumptions and estimations. As a result, there can be no guarantee or assurance that these assumptions and expectations will in fact occur. The forward-looking statements are subject to risks and uncertainties that may cause actual results to materially differ from those contained in the statements. Some, but not all of the risks, include our ability to obtain future sales, our ability to successfully integrate acquisitions, changes in worldwide economic and political conditions, including adverse effects from terrorism or related hostilities including increased costs, reduced production or other factors, costs related to legal and administrative matters, our ability to realize cost savings expected, inefficiencies related to production that are greater than anticipated, changes in technology and technological risks, foreign currency fluctuations, increased fuel costs, increased steel costs as it relates to our selling price, work stoppages and strikes at our facilities and those of our customers, the presence of downturns in customer markets where the company's goods and services are sold, financial and business downturns of our customers or vendors, and other factors, uncertainties, challenges, and risks detailed in Tarpon's public filings with the Securities and Exchange Commission. Tarpon does not intend or undertake any obligation to update any forward-looking statements.