Breakdown of the 10-Q
Secured Digital Announces First Quarter 2008 Financial Results
Thursday May 15, 9:30 am ET
Net Income for Three Month Period Ended 3/31/08 Up By 125%
NEW YORK--(BUSINESS WIRE)--Secured Digital Applications, Inc. (OTCBB:SDGL - News), a provider of mobile communication, outsourced business and information technology consulting services today announced record revenues of $14.5 million in the first quarter of 2008 as a result of increased sales of multimedia and information technology consulting services.
In its quarterly report filed with the Securities and Exchange Commission, the company reported that revenues increased by 40 percent from the first quarter of 2007, a gain of $4.14 million, while gross profits increased by 80 percent from $690,627 to $1,242,457. Net Income was $699,456, compared to $311,100 in the 2007.
First Quarter 2008 First Quarter 2007 Change
Revenue $14,509,361 $10,370,802 $4,138,559
Gross Profit 1,242,457 690,627 551,830
Net Income 699,456 311,100 388,356
Comprehensive Income 709,457 69,451 340,006
"Secured Digital’s solid performance in Q1 2008 reaffirms the Company’s underlying strength in its ability to execute on its strategy,” said Chairman and Chief Executive Officer Patrick Lim. “With the introduction of our Bluetooth VoIP (Voice over Internet Protocol) service in China during Q4 2008, we hope to exceed our forecasted revenue and income for 2008.”
About Secured Digital Applications, Inc.:
Secured Digital Applications, Inc. is a provider of mobile communication, outsourced business and information technology consulting services. The Company’s business is organized under two divisions. The first division is involved in multimedia production, information technology, computing consulting and business process outsourcing services; and sale of smarthome and biometric security solutions. The second division is focused on Bluetooth, Global Positioning System and Radio Frequency Identification enabled applications. The Company’s media production includes content for television, the Internet and multimedia presentations. The target market for the Company’s 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. |
