ZiaSun Expects to Report Record Fourth Quarter Performance; Company Believes It Will Exceed Analysts' Expectations for 1999 Results...
[Let's see, mine are 45/50 cents EPS...]
SOLANA BEACH, Calif.--(BUSINESS WIRE)--Feb. 7, 2000--ZiaSun
Technologies, Inc. (OTC BB: ZSUN), a profitable Internet holding
company, today projected fourth quarter fiscal 1999 EBIT earnings
will exceed $5,600,000, and expects to have cash assets in excess of
$9,000,000 at year's end. The Company also reported that its auditors
are currently preparing the final financials for ZSUN's 10K-SB filing
with the SEC.
ZiaSun Chairman and CEO Scott Elder commented, "The strong
earnings during the fourth quarter will allow the Company to
accelerate its growth in 2000."
During the fourth quarter of fiscal 1999, ZiaSun Technologies
received coverage from two independent analysts who issued buy
recommendations and long-term price targets of $30 per share or more.
The Company said it is pleased the analysts recognized ZSUN for its
early market positioning in the Internet industry, especially in the
financial/investment sector and the Asia-Pacific region.
Corporate development highlights for the fourth quarter include
significant expansion of ZSUN's Swiftrade online stock trading portal,
with the addition of Reuters as Swiftrade's primary provider of
real-time financial news and market data, as well as the introduction
of online trading on the Hong Kong and London stock markets for
non-U.S. citizens. The Company also renewed its news service contract
with AFX-Asia for the 'M Finance' portal, and announced plans to
strengthen its leading position in the Asian Internet industry with a
new e-commerce portal, which provides diverse information services to
businesses and individuals internationally.
ZiaSun continues to identify niche Internet opportunities within
geographic regions positioned for explosive Internet growth. Several
analysts, who initiated coverage of ZSUN during fiscal 1999, cited its
early presence in emerging Internet markets - such as the Asian Rim -
as a distinct competitive advantage, which helps provide a solid
foundation for the Company's future success.
The Company effectively implemented its strategy of investing in,
improving and selling early stage, niche-market Internet firms with
the $5,000,000 sale of Asia4Sale during the 4th quarter fiscal 1999.
However, ZiaSun retains a 30-percent ownership in the new Asia4Sale
entity. Therefore, in addition to the short-term financial benefit, it
also expects to receive long-term financial gains from this sale.
ZiaSun Technologies, Inc. is a leading Internet holding company
focused on e-commerce and specialized online support services within
North America, Asia and other international markets. The Company's
Internet portfolio includes Asia4Sale (www.asia4sale.com), AuctionAsia
(www.auctionasia.net), MEDIAhits (www.mediahits.com), Momentum Asia
(www.momentumasia.com), Momentum Finance (www.mfinance.com - a top 100
financial website), Momentum Internet (www.momentumplus.com), Online
Investors Advantage (www.i-advantage.com), PINmail (www.pinmail.com),
Search Dragon (www.searchdragon.com), ServiceLive
(www.servicelive.com) and Swiftrade (www.swiftrade.com).
Any statements released by ZiaSun Technologies Inc. that are
forward-looking are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Editors and
investors are cautioned that forward-looking statements invoke risk
and uncertainties that may affect the Company's business prospects and
performances. These include economic, competitive, governmental,
technological and other factors discussed in the statements and in the
Company's filings with the Securities and Exchange Commission.
--30--bh/bos*
CONTACT: OTC Financial Network
Geoffrey Eiten
800/230-3519 or 781/444-6100 ext. 13
geiten@otcfn.com
www.otcfn.com/zsun
or
ZiaSun Technologies, San Diego
Mark Harris
858/350-4060
mark@pinmail.com
www.ziasun.com
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