Message #44 From:
NewsBot Date: November 19, 2007 07:00:03 AM
Secured Digital Announces Third Quarter 2007 Financial Results
Net Income for Nine Month Period Ended 9/30/07 up by 108%
Secured Digital Applications, Inc. (OTCBB:SDGL), a global provider of
business process outsourcing services and systems integrator for Radio
Frequency Identification (“RFID”)
enabled tracking applications today released financial results for its
third quarter and nine months ended September 30, 2007. For the quarter,
revenues were $11.818 million compared to $9.638 million for the same
period in 2006, an increase of approximately 23%.
For the nine month period ended September 30, 2007, revenues were
$33.199 million compared to $25.641 million for the corresponding period
in 2006, up by approximately 29%. Net income for the nine month period
ended September 30, 2007 was $1,058,763 compared to $508,968 for the
same period in 2006, an increase of 108%. The increase in revenue and
profitability resulted primarily from growth in the sales of our RFID
enabled smarthome system and multimedia content production service.
“We are very pleased with our third quarter
results and recent developments. Our trailing twelve months revenue of
$44.2 million is 44% above that of the preceding period,”
said Patrick Lim, Chairman and CEO of Secured Digital. “The
Company has made good progress towards implementing our strategic
initiative in establishing our presence in the United States. We feel
confident that we are on the right path to put Secured Digital on target
for sustained growth and profitability.”
Secured Digital’s management reiterates that
revenue for fiscal 2007 is expected to be between $44 - 48 million.
About Secured Digital Applications, Inc.:
Secured Digital Applications, Inc. (“SDGL”
or the “Company”)
is a global provider of Business Process Outsourcing (“BPO”)
services and systems integrator for Radio Frequency Identification (“RFID”)
and Global Positioning System (“GPS”)
enabled tracking applications. The Company’s
BPO services include online financial accounting integrated with RFID
enabled document, people, inventory and asset tracking applications; and
multimedia content production. The Company's media production includes
content for television, the Internet and multimedia presentations. The
Company also develops and implements solutions for smarthome and
biometric security. The Company’s current
target market for its products and services include customers from the
United States, Asia and Australia. For more information, please visit www.digitalapps.net,
www.eystar.com and
www.sdawmedia.com. Information on our websites does not comprise a
part of the press release.
Safe Harbor Statement:
Information contained in this press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. 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. Such risks and
uncertainties include, but are not limited to, economic downturns,
failure to achieve anticipated short- and long-term financial benefits
from our business, failure to achieve market demand and acceptance for
our products and services and failure to generate sufficient capital or
to obtain financing to fund our operations and growth. The Company does
not undertake to update, revise or correct any forward-looking
statements except as required by law. 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.
Newport Capital Consultants Stephen Jones, 972-712-1039 esjones1@aol.com
