REAL RESULTS AND NUMBERS!
DVS Announces Record Sales of $4.9 Million for Month of July
MOUNTAIN VIEW, Calif., Aug. 5 /PRNewswire/ -- Digital Video Systems, Inc. (Nasdaq: DVIDC - news) today announced that July 1999 revenues at $4.9 million were a record for a single month in the Company's history.
Slightly over 70% of the revenue was resulted from sales to OEM's in China, and approximately 90% of the revenue was derived from the DVD product line. Preliminary results also indicate that gross margins have improved over prior periods.
Ms. Kuo, DVS' Co-Chairman and CEO, said, ''We believe that our Company is on the right track and that these record results are just the beginning.''
On a separate note, Ms. Kuo wants to emphasize that Nasdaq requires our stock to be at $1 by August 16 and stay at or above $1 for the subsequent 10 days. The potential of a reverse split is a last resort to meet this requirement. The Company has been monitoring the market conditions, and will not actuate reverse split unless the market conditions warrant such an action to meet the Nasdaq requirement.
ABOUT DVS
Digital Video Systems, Inc. is a technology company specializing in the development and application of Digital Versatile Disc (DVD) and digital-video related technologies. The Company currently develops
and markets DVD-ROM drives, DVD intelligent loaders, including subassemblies and components, and CD based Video Engine products for the consumer products, commercial video and computer peripherals markets.
Established in 1992, DVS is publicly traded company headquartered in Mountain View, Calif., with a branch office in Taiwan and subsidiaries in Hong Kong, Bermuda, South Korea, and China. DVS is a trademark of Digital Video Systems, Inc.
Lets' hope or NO reverse split...
chris |
