SGD Holdings, Ltd. Announces Preliminary 2010 Results
20 1월 2011 - 10:22PM
Marketwired
Ecopaper.com, a subsidiary of SGD Holdings, Ltd. (PINKSHEETS: SGDH)
today announced sales of $3,444,945 for the year ended December 31,
2010, compared to sales of $84,697 for the same period last year,
an increase of 3967% a record sales level for the Company. The 2010
results presented in this release are based on preliminary
financial data and are subject to change until the year-end
financial close process is complete. The Company attributed these
strong sales increases to the Company's diversification by entering
into the sales of raw materials. The increases were across the
board with sales to EOM companies for office product supplies and
manufacturing. As a result of increased sales and carefully managed
costs, the Company projects stronger increase in profitability and
increased sales coupled with appropriate cost controls as the
Company grows in 2011.
According to Harry Johansing, CEO, "We are extremely pleased
with these record revenues. We invested in globalizing the business
during the downturn, and now over two-thirds of our sales are due
to OEM manufacturers. In addition, the successful product
diversification of our proprietary technology into new market
niches has played a major role in our organic growth. We recently
announced entering into a letter of intent to purchase Aclor, Inc.
in order to have adequate expansion space for current and longer
term staffing and manufacturing requirements. We anticipate another
strong year in terms of sales and income."
About SGD Holdings, LTD. SGD Holdings,
LTD. (PINKSHEETS: SGDH) is a holding company which owns and
operates, through its wholly-owned subsidiary, Ecopaper, Inc.
(http://www.ecopaper.com.) and EcoFriend Group. Through internal
research and development, as well as through acquisition, the
company aspires to create and acquire new technologies, products
and methodologies which have the potential to positively impact the
environment. For more information regarding SGD Holdings, Ltd.
e-mail ir@ecopaper.com.
Forward-Looking Statements: The statements
in the press release that relate to the Company's expectations with
regard to the future impact on the Company's results from
acquisitions or actions in development, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements in this document may also
contain "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Forward-looking statements are subject to risks, uncertainties, and
other factors that could cause actual results to differ materially
from those contained in such statements. Such risks, uncertainties,
and factors include, but are not limited to, future capital needs,
changes and delays in plans and schedules, or market acceptance.
SGD Holdings, Ltd. undertakes no duty to update these
forward-looking statements.
Contact: Harry Johansing 805-644-4462
SGD (PK) (USOTC:SGDH)
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