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SECURED DIGITAL APPLICATIONS (U-SDGL) - News Release Secured Digital Reports Record Quarterly Revenue as Sales Top $10 Million on Outsourcing Expansion
2007-05-15 10:00 ET - News Release
SADDLE BROOK, N.J. -- (Business Wire)
Secured Digital Applications (OTCBB:SDGL), a leading provider of outsourced business consulting services in Asia, today announced record revenues of $10.37 million in the first quarter of 2007 as a result of increased sales of multimedia and business services.
In its quarterly report filed with the Securities and Exchange Commission, the company reported that revenues increased by 23 percent from the first quarter of 2006, a gain of $1.97 million, while gross profits increased by 51 percent from $457,488 to $690,627. Income from continuing operations was $311,100, compared to a loss of $102,933 in the 2006.
"Management is very pleased with the results for the first quarter of 2007," said Chairman and Chief Executive Officer Patrick Lim. "It represents Secured Digital's continuing expansion of its share of the market for advanced technology applications."
The company also reaffirmed its sales and earnings guidance for 2007. The company expects to achieve revenue in the range of $44 - 48 million and net income in the range of $1.5 - $1.8 million.
Lim also noted that the increased gross profit reflected Secured Digital's reorganization in 2006, during which the company divested its retail computer and secured shipping subsidiaries.
First Quarter 2007 First Quarter 2006 Change Revenue $10,370,802 $8,402,325 $1,968,477 Gross Profit $690,627 $457,488 $233,139 Income from Continuing Operations $311,100 ($102,933) $414,033 Comprehensive Income $369,451 $522,283 ($152,832)
About Secured Digital Applications, Inc:
Secured Digital Applications, Inc. is a global provider of outsourced business services in media production, information technology, digital document management and trade management and consulting. The Company serves customers in Southeast Asia as well as the United States. The Company's media production includes content for television, the Internet and free-standing digital displays, and also designs and installs on-site multi-media presentations. SDA also develops and implements solutions for biometric security systems, business process applications and RFID applications including inventory and asset tracking. For more information, please visit www.digitalapps.net,www.eystar.com,www.sdawmedia.com and www.chinaseaco.com.
Safe Harbor Statement:
Information contained in this release includes forward-looking statements and information that is based on beliefs of, and information currently available to, management, as well as estimates and assumptions made by management. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "is expected", "intends", "may", "will", "should", "anticipates", "plans" or the negative thereof. These forward looking statements often include forecasts and projections for future revenue and/or profits and are subject to revision and are not based on audited results. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Secured Digital Applications, Inc. does not undertake to update, revise or correct any forward-looking statements. Investors are cautioned that current results are not necessarily indicative of future results, and actual results may differ from projected amounts. For more complete information concerning factors that could affect the Company's results, reference is made to the Company's registration statements, reports and other documents filed with the Securities and Exchange Commission. Investors should carefully consider the preceding information before making an investment in the common stock of the Company.
Contacts:
Newport Capital Consultants Stephen Jones, 972-712-1039 esjones1*aol.com
Source: Secured Digital Applications, Inc.
Posts: 667 | Registered: Mar 2007
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Shareholders' equity: Series B convertible preferred stock, $0.10 par value; 10,000 10,000 1,000,000 shares authorized; 100,000 shares issued and outstanding, liquidation preference $2,500,000
Common stock, $.00001 par value; 350,000,000 shares authorized; 141,822,594 and 141,572,594 shares issued in 2007 and 2006, respectively; 129,496,814 and 128,721,391 shares outstanding in 2007 and 2006, respectively 1,295 1,287 Additional paid-in capital 6,864,943 6,746,129 Common treasury stock, 12,325,780 and 12,851,203 shares at cost in 2007 and 2006, respectively -- -- Options 105,064 101,904 Warrants 827,067 784,875 Deferred compensation (11,542) (48,175) Retained earnings 968,484 657,384 Accumulated other comprehensive income 303,743 245,392 --------------- ---------------- Total shareholders' equity 9,069,054 8,498,796 --------------- ---------------- Total liabilities and shareholders' equity $ 10,852,099 $ 10,168,289
Posts: 667 | Registered: Mar 2007
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Thats good news I wonder where the volume is on this? I am getting ready to pop in hoping it will be noticed today .. Thanks PRD
Posts: 1986 | From: Florida | Registered: Mar 2006
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According to 10-Q information this should be up at least 30% because of increase in profit 1st Q , And only 1 MM setting on .063 until .064 and .065 ..
Posts: 1986 | From: Florida | Registered: Mar 2006
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nice bottom play imo. Looking forward to the 2nd qtr. I see maybe 1-2c in eps for the year yet sells for 6c?
Posts: 188 | From: illinois | Registered: Jan 2004
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