PATERSON, N.J.--(BUSINESS WIRE)--Quest Minerals & Mining Corp. (OTCBB: QMNM: Frankfurt: QMNB.F), a Kentucky based operator of energy and mineral related properties, today announced that it has retained White Star Mining, LLC, of Kentucky, to conduct mining operations at the company’s Pond Creek Mine at Slater’s Branch, Kentucky.
Bobby Blackburn of White Star Mining stated, “Our company is pleased to have this opportunity to bring Quest’s operations back into full production. My associates and I have over fifty years of mining experience and are very enthusiastic about this project. With millions of tons to be mined at Pond Creek, we look forward to many years of working with Quest on this project.”
Eugene Chiaramonte, Jr., President of Quest, stated, “We are very excited that White Star has agreed to conduct mining operations at the Pond Creek Mine. They have significant experience in the coal mining industry and have an excellent reputation for providing quality work. We are looking forward to having them as part of our team and we look forward to a prosperous relationship.”
Preliminary preparations have already been initiated to expedite the start of full production. Limited operations should commence early next week once the operating license has been transferred.
About Quest Minerals & Mining
Quest Minerals & Mining Corp., or Quest, acquires and operates energy and mineral related properties in the southeastern part of the United States. Quest focuses its efforts on properties that produce quality compliance blend coal. For more information on Quest Minerals & Mining Corp., please visit our website at www.questmining.net.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Quest believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against Quest and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which Quest does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.
Tuesday, January 29, 2008
NewMarket Technology, Inc. Announces Mobile Computing Solution Anticipated to Increase Current $100 Million in Profitable Annualized Revenue
Mobile Computing Solution Adds to Existing NewMarket Emerging Technology Product Line Currently Including VoIP, Broadband Wireless and Network Security Solutions
DALLAS, TX--(MARKET WIRE)--Jan 28, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today announced adding a Mobile Computing Solution, to include mobile software, mobile security and mobile access, to its current portfolio of emerging technology products and services. The Company launched efforts to build a Mobile Computing Solution offering in the third quarter of 2007. The Company anticipates $20 million in sales in 2008 resulting from its new Mobile Computing Solution offering. The increased sales from the Mobile Computing Solution are anticipated to push NewMarket's revenue past the current $100 million in annualized sales mark. NewMarket has recently released a forecast for 20% organic revenue growth in 2008 over 2007, which did not include the anticipated growth from Mobile Computing Solutions.
Mobile Computing Industry Opportunity in Emerging Economies
The Mobile Computing Industry includes mobile application and security software used on devices such as handheld computers, PDAs, smartphones and cell phones. The demand for mobile software applications is being driven in large part by the growing penetration of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. According to IDC, the worldwide mobile phone market reached a new milestone at the close of 2006 with more than one billion units shipped worldwide over the year.
"Emerging markets contributed to the high volume sales," said Ramon Llamas, a research analyst in IDC's Mobile Technology and Tracking team. "It was not long ago that shipments into mature markets, including Japan, North America and Western Europe, consumed the majority of devices shipped worldwide. More recently, however, device shipments into emerging economies in Asia/Pacific, Central and Eastern Europe, the Middle East, Africa and Latin America have surpassed shipments to mature markets, and the difference between the two continues to grow."
IDC expects this trend to continue as mature markets reach saturation, and as emerging markets with much lower "teledensity" provide opportunities for handset vendors to attract first-time users.
"In addition, the time to set up a mobile network is much shorter and less expensive than the time to set up a landline network, propelling cell phone shipments further," said Llamas. "Finally, mobile phones are seen as both a practical necessity and a status symbol in many emerging markets."
The information above was found in IT Week. The entire article is available at: http://www.itweek.co.uk/vnunet/news/2173516/billion-mobile-phones-shipped
NewMarket's Mobile Computing Solution Offering
NewMarket's Mobile Computing Solution offering will include both infrastructure solutions and applications for provisioning and managing users accessing mobile solutions in addition to a number of various industry specific mobile applications such as online banking. NewMarket's initial Mobile Computing Solution offering is being assembled by the acquisition of three innovative mobile software companies. NewMarket will be releasing more details on its Mobile Computing Solution and the three companies being acquired. NewMarket's Mobile Computing Solution offering will take advantage of the Company's existing emerging economy distribution channels in South America, China and South East Asia.
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company updates, please send an e-mail to ir@newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions.
NewMarket delivers its portfolio of products and services through its network of Solution Integration subsidiaries in North America and the leading emerging markets around the world to include Latin America, China and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and Number Five in North America on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005. In 2006, the Company continued its rapid growth, reporting $77.6 million in revenue with a net income of $5.8 million.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
DALLAS, TX--(MARKET WIRE)--Jan 28, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today announced adding a Mobile Computing Solution, to include mobile software, mobile security and mobile access, to its current portfolio of emerging technology products and services. The Company launched efforts to build a Mobile Computing Solution offering in the third quarter of 2007. The Company anticipates $20 million in sales in 2008 resulting from its new Mobile Computing Solution offering. The increased sales from the Mobile Computing Solution are anticipated to push NewMarket's revenue past the current $100 million in annualized sales mark. NewMarket has recently released a forecast for 20% organic revenue growth in 2008 over 2007, which did not include the anticipated growth from Mobile Computing Solutions.
Mobile Computing Industry Opportunity in Emerging Economies
The Mobile Computing Industry includes mobile application and security software used on devices such as handheld computers, PDAs, smartphones and cell phones. The demand for mobile software applications is being driven in large part by the growing penetration of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. According to IDC, the worldwide mobile phone market reached a new milestone at the close of 2006 with more than one billion units shipped worldwide over the year.
"Emerging markets contributed to the high volume sales," said Ramon Llamas, a research analyst in IDC's Mobile Technology and Tracking team. "It was not long ago that shipments into mature markets, including Japan, North America and Western Europe, consumed the majority of devices shipped worldwide. More recently, however, device shipments into emerging economies in Asia/Pacific, Central and Eastern Europe, the Middle East, Africa and Latin America have surpassed shipments to mature markets, and the difference between the two continues to grow."
IDC expects this trend to continue as mature markets reach saturation, and as emerging markets with much lower "teledensity" provide opportunities for handset vendors to attract first-time users.
"In addition, the time to set up a mobile network is much shorter and less expensive than the time to set up a landline network, propelling cell phone shipments further," said Llamas. "Finally, mobile phones are seen as both a practical necessity and a status symbol in many emerging markets."
The information above was found in IT Week. The entire article is available at: http://www.itweek.co.uk/vnunet/news/2173516/billion-mobile-phones-shipped
NewMarket's Mobile Computing Solution Offering
NewMarket's Mobile Computing Solution offering will include both infrastructure solutions and applications for provisioning and managing users accessing mobile solutions in addition to a number of various industry specific mobile applications such as online banking. NewMarket's initial Mobile Computing Solution offering is being assembled by the acquisition of three innovative mobile software companies. NewMarket will be releasing more details on its Mobile Computing Solution and the three companies being acquired. NewMarket's Mobile Computing Solution offering will take advantage of the Company's existing emerging economy distribution channels in South America, China and South East Asia.
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company updates, please send an e-mail to ir@newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions.
NewMarket delivers its portfolio of products and services through its network of Solution Integration subsidiaries in North America and the leading emerging markets around the world to include Latin America, China and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and Number Five in North America on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005. In 2006, the Company continued its rapid growth, reporting $77.6 million in revenue with a net income of $5.8 million.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Sunday, January 13, 2008
SoftNet Technology Launches 2008 Market Strategy
ISELIN, N.J., Jan. 11, 2008 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) (German WKN:TG6) announced today its 2008 ``go to market'' strategy.
SoftNet has refined its technology practices and organized its market verticals for 2008 in order to leverage the significant progress made over the past twelve months in extending its services and solutions as well as expanding its market presence.
SoftNet's stated strategy is to provide end-to-end coverage of its clients' technology environment, differentiating itself with its integrated approach to both applications and the infrastructure upon which they operate. SoftNet's service and solutions are targeted at driving performance of technology investments which builds value for its Global 2000 client base.
SoftNet has organized its technology and services solutions into two primary practices, each headed by a successful industry executive with experience and insight in their respective sectors. Joe Luminoso, Vice President, will lead the Infrastructure Services practice which focuses on storage, security, server technology, networking and systems integration. Kevin Remley, Vice President, is charged with leadership of the Application Delivery practice. Application Delivery includes application lifecycle management, project management, QA/TQM, custom development and systems integration.
SoftNet also announced that its market focus for 2008 has expanded and been organized into three major verticals: Enterprise, Service Providers and Government. Sales and marketing efforts will be tailored to identify and pursue new clients in each of these verticals. Practice leaders will address opportunities in each market and coordinate with other practice leaders to ensure that account penetration is optimized with new clients. The Company intends to extend each market vertical with a focus on organizations for which technology is a critical element of the client's business/service model. SoftNet will continue its focus on certain sub-sectors such as financial services, communications and media.
Joe Luminoso, SoftNet's Vice President of Infrastructure Services, brings 22 years of leadership to his role. In the past he has served as Director of Professional Service for Network Appliance, EVP of Leading Edge Communications Corp., VP Global Professional Services of Genosys Technology, and Director of Information Services at Paine Weber, as well as VP positions with Computer Associates and Platinum Technology. ``Our opportunity in the infrastructure space is founded on our expertise in certain areas of clients' critical need such as storage and security. We have a great team of highly trained professionals supported by leading edge technology partners and a proven delivery model,'' Luminoso noted. Infrastructure Services is SoftNet's core technology practice, which drove the bulk of 2007 revenues.
SoftNet's Application Delivery practice is headed by another Vice President, Kevin Remley who is uniquely qualified to build this newest solutions practice for SoftNet through his past experience and technical expertise. Remley has served in senior level positions for world class organizations such as JP Morgan, Morgan Stanley and Ernst & Young. He has successfully started two professional services companies, leading each to sustained growth and profitability. ``The challenge of building the Application Delivery practice here at SoftNet appealed to me as the Company is well-positioned to support the platforms on which applications operate. The ability to address the whole technology environment brings a value added element to client relationships. SoftNet's proven ability to recruit, train and retain skilled industry professionals is a critical factor in establishing our brand in this sector,'' said Remley.
Jim Booth, SoftNet's CEO, stated, ``We are excited at the significant progress made last year in building SoftNet's capabilities in new practices as well as our ability to pursue new markets such as the robust government sector. We have shifted our focus to high value solutions for large enterprise and service organizations while eliminating our reliance on hardware based transactions. SoftNet's certification as a secured facility by the Department of Defense will open up opportunities in the government market vertical in 2008 and beyond. Based on our backlog of booked business and pipeline of new opportunities, we are optimistic that we will more than offset the revenues from the SMB business sold in Q4. We are making solid and steady progress on our march to profitability.''
SoftNet Technology Corp. is a Professional Services company offering professional expertise to enterprise and service provider clients. SoftNet's services are organized in three practice specialties, including Enterprise Infrastructure Services, Application Lifecycle Management and Government Services. The Company maintains strategic relationships with best of breed technology companies such as NetApp, Dell and Microsoft.
Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations, please contact the company directly at 908-212-1799, Jim Booth, CEO or Dennis Goett, CFO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
Wednesday, January 9, 2008
SmallCap Sentinel: The Gift of Guidance in a Volatile Market
IRVINE, Calif., Jan. 9, 2008 (PRIME NEWSWIRE) -- ``In an ever-volatile market, guidance from a public company -- especially a small cap -- can be enormously valuable to an investor,'' stated SmallCap Sentinel analyst D.R. Clark. ``And when that guidance comes in the form of a leading Chinese Bromine producer announcing that management expects to report 2008 revenues of $87 million, net income of approximately $23.5 million and earnings per share of $0.23, it should certainly turn heads. According to a release issued this morning by Gulf Resources Inc. (OTC BB:GFRE.OB - News), this appears to be exactly the case.''
A comprehensive report focusing on GFRE, a leading Bromine producer in the People's Republic of China, and developments in the specialty chemical industry has been published by financial courier StockUpTicks.com and is now available to the general public. The report will address related information of interest to investors of specialty chemical companies including New Oriental Energy (NasdaqCM:NOEC - News), OM Group, Inc. (NYSE:OMG - News), and The Lubrizol Corporation (NYSE:LZ - News).
``Investors would be wise to view this report and to continue to follow GFRE as the company works to meet these expectations,'' Clark added. ``Simply add GFRE to your watchlist.''
To view the report in its entirety, please visit: http://stockupticks.com/profiles/1-7-08.html
Gulf Resources, Inc. operates through two wholly-owned subsidiaries: SCHC, which is engaged in manufacturing and trading Bromine, which is used to manufacture a wide variety of compounds utilized in industry and agriculture, and Crude Salt in China; and SYCI, which manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents
A comprehensive report focusing on GFRE, a leading Bromine producer in the People's Republic of China, and developments in the specialty chemical industry has been published by financial courier StockUpTicks.com and is now available to the general public. The report will address related information of interest to investors of specialty chemical companies including New Oriental Energy (NasdaqCM:NOEC - News), OM Group, Inc. (NYSE:OMG - News), and The Lubrizol Corporation (NYSE:LZ - News).
``Investors would be wise to view this report and to continue to follow GFRE as the company works to meet these expectations,'' Clark added. ``Simply add GFRE to your watchlist.''
To view the report in its entirety, please visit: http://stockupticks.com/profiles/1-7-08.html
Gulf Resources, Inc. operates through two wholly-owned subsidiaries: SCHC, which is engaged in manufacturing and trading Bromine, which is used to manufacture a wide variety of compounds utilized in industry and agriculture, and Crude Salt in China; and SYCI, which manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents
Gulf Resources Provides Calendar 2008 Financial Guidance
Management Expects to Report Revenues of $87 Million and Net Income of $23.5 Million
NEW YORK and Shandong Province, China, Jan. 9 /Xinhua-PRNewswire/ -- Gulf Resources, Inc. (the "Company") (OTC Bulletin Board: GFRE - News), a leading producer of Bromine and specialty chemicals in China through its two wholly-owned subsidiaries, Shuoguang City Haoyuan Chemical Company Limited ("SCHC"), and Shouguang Yu Xin Chemical Industry Co., Ltd. ("SYCI"), today announced financial guidance for calendar 2008.
Management expects to report 2008 revenues of $87 million, net income of approximately $23.5 million and earnings per share of $0.23, based on the approximately 100 million shares currently outstanding.
The guidance provided today includes only the current operations, including the estimated contribution from the recently announced Hanting area asset purchase, and does not take into account any future asset purchases or acquisitions. Management expects that its "SCHC" subsidiary will process, produce and ship approximately 31,000 tons of bromine for the 2008 calendar year and expects this subsidiary to generate $65 million in revenue. Through its current product portfolio and new product introductions, including bromine based compounds which were previously announced, the Company expects its "SYCI" subsidiary to contribute revenue of $22 million for 2008.
"The management team has executed on its growth plan while the domestic bromine market in China continues to experience strong demand. This factor, in addition to the RMB currency appreciation is anticipated to drive further bromine price increases. We continue to evaluate additional unlicensed bromine facilities in our immediate geographic area and expect to complete several asset purchases this year, with the goal of attaining at least a 20 percent market share by the end of 2008. Our exploitation license provides the conduit to pursue these opportunities and is a key asset for our company. Any contemplated acquisition is expected to be incremental to this guidance," stated Gulf Resources Inc. CEO Mr. Ming Yang.
"We are experiencing growth in both of our operating subsidiaries, which is being driven through organic expansion and targeted asset purchases. "SCHC" will continue to make capital improvements where appropriate, including new bromine wells and convey trench lines, while leveraging new integrated production processes to improve capacity utilization. Further, our "SYCI" subsidiary plans to purchase two deep processing plants which produce bromine- based derivatives, a market we are focused on penetrating, which will provide incremental revenue growth and further margin enhancements. These contemplated purchases would be incremental to this guidance."
For calendar 2007, the Company previously provided guidance approximately $54 million in revenues and $13 million in net income. Audited results are expected to be released during March 2008.
About Bromine
Bromine and bromine compounds are used for a wide variety of different applications. Some bromine compounds are effective flame retardants, and nearly one-half of the bromine consumed annually is used in flame retardants for household and industrial applications. The agriculture industry uses bromine in pesticides. Bromine compounds are also used in oil-well drilling fluids, sanitary preparations, and an assortment of other applications including water purification chemicals, fumigants, dyes, medicines, and inorganic bromides (AgBr, silver bromide) used in films and photographic processes.
Bromine-containing chemicals are used in swimming pools and industrial cooling towers to control algae, bacteria, and odors. Some bromine-containing pesticides are used in the production or storage of food crops. Bromine also is used in the production of oil and gas well completion drilling fluids. Thanks to bromine chemicals, we now have photographic films and papers, dyes, inks, sedatives, analgesics, anesthetics and other drugs, hydraulic fluids, refrigerating and dehumidifying agents, and hair-waving preparations.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries. SCHC is engaged in manufacturing and trading Bromine and Crude Salt in China. Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. SYCI manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents. For more information, please visit http://www.gulfresourcesco.com .
Safe Harbor Statement:
Several statements in this earnings guidance news release contain forward- looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results in these forecasted revenues, net income and earnings per share may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the Peoples Republic of China, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
NEW YORK and Shandong Province, China, Jan. 9 /Xinhua-PRNewswire/ -- Gulf Resources, Inc. (the "Company") (OTC Bulletin Board: GFRE - News), a leading producer of Bromine and specialty chemicals in China through its two wholly-owned subsidiaries, Shuoguang City Haoyuan Chemical Company Limited ("SCHC"), and Shouguang Yu Xin Chemical Industry Co., Ltd. ("SYCI"), today announced financial guidance for calendar 2008.
Management expects to report 2008 revenues of $87 million, net income of approximately $23.5 million and earnings per share of $0.23, based on the approximately 100 million shares currently outstanding.
The guidance provided today includes only the current operations, including the estimated contribution from the recently announced Hanting area asset purchase, and does not take into account any future asset purchases or acquisitions. Management expects that its "SCHC" subsidiary will process, produce and ship approximately 31,000 tons of bromine for the 2008 calendar year and expects this subsidiary to generate $65 million in revenue. Through its current product portfolio and new product introductions, including bromine based compounds which were previously announced, the Company expects its "SYCI" subsidiary to contribute revenue of $22 million for 2008.
"The management team has executed on its growth plan while the domestic bromine market in China continues to experience strong demand. This factor, in addition to the RMB currency appreciation is anticipated to drive further bromine price increases. We continue to evaluate additional unlicensed bromine facilities in our immediate geographic area and expect to complete several asset purchases this year, with the goal of attaining at least a 20 percent market share by the end of 2008. Our exploitation license provides the conduit to pursue these opportunities and is a key asset for our company. Any contemplated acquisition is expected to be incremental to this guidance," stated Gulf Resources Inc. CEO Mr. Ming Yang.
"We are experiencing growth in both of our operating subsidiaries, which is being driven through organic expansion and targeted asset purchases. "SCHC" will continue to make capital improvements where appropriate, including new bromine wells and convey trench lines, while leveraging new integrated production processes to improve capacity utilization. Further, our "SYCI" subsidiary plans to purchase two deep processing plants which produce bromine- based derivatives, a market we are focused on penetrating, which will provide incremental revenue growth and further margin enhancements. These contemplated purchases would be incremental to this guidance."
For calendar 2007, the Company previously provided guidance approximately $54 million in revenues and $13 million in net income. Audited results are expected to be released during March 2008.
About Bromine
Bromine and bromine compounds are used for a wide variety of different applications. Some bromine compounds are effective flame retardants, and nearly one-half of the bromine consumed annually is used in flame retardants for household and industrial applications. The agriculture industry uses bromine in pesticides. Bromine compounds are also used in oil-well drilling fluids, sanitary preparations, and an assortment of other applications including water purification chemicals, fumigants, dyes, medicines, and inorganic bromides (AgBr, silver bromide) used in films and photographic processes.
Bromine-containing chemicals are used in swimming pools and industrial cooling towers to control algae, bacteria, and odors. Some bromine-containing pesticides are used in the production or storage of food crops. Bromine also is used in the production of oil and gas well completion drilling fluids. Thanks to bromine chemicals, we now have photographic films and papers, dyes, inks, sedatives, analgesics, anesthetics and other drugs, hydraulic fluids, refrigerating and dehumidifying agents, and hair-waving preparations.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries. SCHC is engaged in manufacturing and trading Bromine and Crude Salt in China. Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. SYCI manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents. For more information, please visit http://www.gulfresourcesco.com .
Safe Harbor Statement:
Several statements in this earnings guidance news release contain forward- looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results in these forecasted revenues, net income and earnings per share may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the Peoples Republic of China, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Tuesday, January 8, 2008
SoftNet Technology Reports Record 2007 Revenues
ISELIN, N.J., Jan. 8, 2008 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) (German WKN:TG6 ) is pleased to announce, on a preliminary and unaudited basis, that the Company posted record revenues for fiscal 2007. Fiscal 2007 estimated revenue grew 38.6% to $8,609,506 from $6,213,304 recorded in 2006. A more detailed explanation of SoftNet's 2007 results will be available upon completion of the annual and quarterly audit.
Growth continues to be solid in the Company's core business; consulting and project management in IT Infrastructure. Demand for the Company's services remains strong as customers and hardware providers continue to upgrade their products and systems. The preliminary results are encouraging especially when considering they do not include the certain revenues from the small-medium business unit that SoftNet sold in October. ``The record revenue performance of 2007 is especially gratifying in light of the significant changes we made in our business over the past twelve months. The focus on the enterprise, service provider and government markets required some retooling in 2007. To achieve these benchmark revenues while streamlining the company is a real positive for SoftNet,'' said Dennis Goett, CFO.
Jim Booth, SoftNet's CEO stated, ``We are optimistic that the investment we made in Application Delivery Services will begin to bear fruit in 2008. We are encouraged with the two new projects started in December and this month in this new practice area. Our pipeline of business in our core practice for 2008 is promising with a solid backlog shoring up our 2008 revenue picture. Our certification as a secured facility by the Department of Defense will open up our opportunities in our Government practice.''
SoftNet Technology Corp. is a Professional Services company offering professional expertise to enterprise and service provider clients. SoftNet's services are organized in three practice specialties, including Enterprise Infrastructure Services, Application Lifecycle Management and Government Services. The Company maintains strategic relationships with best of breed technology companies such as NetApp, Dell and Microsoft.
Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations, please contact the company directly at 908-212-1799, Jim Booth, CEO or Dennis Goett, CFO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp. (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
SmallCap Sentinel: Making a Bromine Move
IRVINE, Calif., Jan. 8, 2008 (PRIME NEWSWIRE) -- ``When investors are looking for signs of success in a small cap equity, clearly revenues and a time-tested business plan are at the forefront,'' stated SmallCap Sentinel analyst D.R. Clark. ``What is not often seen is a successful company confidently broadening their product portfolio through acquisition. But that appears to be the case with Gulf Resources Inc. (OTC BB:GFRE.OB - News) which has just announced that it will gain 4,700 tons of incremental annual bromine production capacity equating to $9.4 million in revenue and $2.4 million in net income through a strategic acquisition. It is important to note that Gulf is already the largest bromine producer in growing China and that bromine is essential to the oil and paper producing industries.''
A comprehensive report focusing on GFRE, a leading Bromine producer in the People's Republic of China, and developments in the specialty chemical industry has been published by financial courier StockUpTicks.com and is now available to the general public. The report will address related information of interest to investors of specialty chemical companies including Agrium Inc. (NYSE:AGU - News), Terra Industries Inc. (NYSE:TRA - News), and Potash Corporation of Saskatchewan Inc. (NYSE:POT - News).
To view the report in its entirety, please visit: http://stockupticks.com/profiles/1-7-08.html
Gulf Resources, Inc. operates through two wholly-owned subsidiaries: SCHC which is engaged in manufacturing and trading Bromine, which is used to manufacture a wide variety of compounds utilized in industry and agriculture, and Crude Salt in China; and SYCI which manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents. For more information, please visit http://www.gulfresourcesco.com.
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