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Were playing this on the under .10 board figured I would post it here too!
China Direct Reports $4.8 Million in April & May 2006 Generator Sales Contracts a 3,800% Increase over 2005 Sales
Results for First Two Months of Second Quarter Exceed Entire First Quarter Contracted Generator Sales
COOPER CITY, Fla., June 7, 2006 /PRNewswire-FirstCall via COMTEX/ -- China Direct Trading Corp. (OTC Bulletin Board: CHDT) today announced that its Complete Power Solutions (CPS) subsidiary had total contracted generator sales for April and May 2006 of $4.8 million, which surpasses the total for the entire three months of the first quarter of FY 2006 of $4.2 million. The default rate for generator contract sales for the period January 2006 through May 2006 has remained at a low two percent of total contract sales. "Consumer demand continues to run high for Complete Power Solutions' generators and we have invested in the inventory and installation personnel qualification that will enhance CPS' ability to fill generator sales contracts in a timely manner," said William Dato, CPS President. "CPS proprietary pre-formed low-vibration generator slabs have proven to be an extremely popular sales item to other standby power providers," he added.
Q1 2006 Versus First Two Months Q2 2006 Contracted Generator Gross Sales (1)
(Unaudited)
Q1 2006 First Two Months Q2 2006 (April & May)
Complete Power Solutions Gross Sales $3,150,000 $3,442,431
Gross Sales to Retailers $1,050,000 $1,385,600 ------------- -------------- Total Contracted Generator Gross Sales for stated period $4,200,000 $4,828,031
(1) Contracted generator sales represent the face value of generator installation contracts signed during the reported period, final revenue recognition for quarterly reporting purposes is determined by completed generator installations and related receipt of purchase price.
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