NEWS! Come on guys, get with it. SETO has just reported $17 million in revenue. Where is everybody? Investors should be jumping all over this news!
"SETO Holdings, Inc. Announces Filing 8K Consolidated Financial Statement
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--Feb. 2, 2000--SETO Holdings Inc. (OTC BB: SETO) announced today the consolidated balance sheet and profit and loss statement for the nine months ending October 31, 1999 including the recent acquisitions of Hong Kong Batteries Industries LTD and Fimas Electronics Sdn Bhd have been filed with EDGAR and are on the company web site www.setoholdings.com.
On a pro forma basis for the nine (9) months ended October 31, 1999 sales were $17,504,462 with net income after tax $ 444,099 or $.03 per share on the weighted average number of shares outstanding 17,415,565. For the period ending October 31, 1999 the total assets are $13,528,604 and stockholders equity of $6,561,014.
The Company's President, Gene Pian, pointed out that all subsidiaries are performing very well and are on track to meet the forecast of $24 million revenue and profits of $3+ million for year ending January 31, 2001.
The Company, in November 1999, acquired Hong Kong Batteries Industries, Ltd. located in Hong Kong and main land China and Fimas Electronics Sdn Bhd, located in Malaysia. See previous news releases for additional information.
See the new Corporate Profile and the 8K statement on our web site: www.setoholdings.com
SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a public Company since 1987 and operates as a broad based technical manufacturer in two major product groupings: Technical products to industry: inclusive of diamond tools, wafer fab supplies and technical ceramics. Consumer products: cellular phone batteries and electronic audio/visual and computer peripherals.
"Safe Harbor" statement under the Private securities Litigation Reform Act of 1995 Statements contained in this release which are not historical facts are forward looking statements that involve risks and uncertainties that could cause actual results to differ from projected results. Factors that could cause actual results to differ materially include, among others, economic and political events in or effecting Malaysia, the Company's dependence on the semiconductor industry and other risk factors detailed in the Company's Securities and Exchange Commission filings.
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Contact:
Investor Relations:
Gene Pian
Tel: 914/923-5000
Fax: 914/923-6225
Email: EJPIAN8888@aol.com
or
Company web site:
www.SETOHOLDINGS.com
www.stidiamond.com
www.ecsceramics.com
www.fujifab.com
email: stiandecs@aol.com |
