ZiaSun Reports Record Net Sales, Earnings and Profits for 1999 3/27/0 6:18 (New York) Business Editors
SOLANA BEACH, Calif.--(BUSINESS WIRE)--March 27, 2000--
Record Sales of $27 Million in Fiscal 1999 with over
$10 Million in Earnings and $0.49 EPS EBIT; 1999 Sales
Increased 35 Times Over Fiscal 1998
ZiaSun Technologies Inc. (OTCBB:ZSUN), a profitable
Internet-technology holding company, today reported exceptional 1999
audited financial results.
ZiaSun's net sales for fiscal 1999 increased more than 35 times to
$27,220,240 from $769,320 in fiscal 1998 with very substantial fiscal
1999 EBIT earnings of $10,681,207, which provided a tenfold increase
of $0.49 per share EBIT for ZiaSun's shareholders of record, compared
to $0.045 per share EBIT for fiscal 1998. Plus, total year-end assets
were $20,242,896 of which $11,651,307 is cash assets. ZiaSun's
condensed, consolidated financial statements will be posted on its Web
site (www.ziasun.com) in the near future.
In addition, Year-to-date, first-quarter performance is exceeding
expectations at all of the company's subsidiaries, and ZiaSun expects
to announce some new strategic business relationships in the near
future, which will further bolster its objective to achieve yet
another record-breaking performance for fiscal 2000.
"Everyone involved with ZiaSun has worked very hard to achieve
this tremendous year-over-year growth for the company, and we want to
thank all the ZiaSun shareholders for their commitment to the
company," said Chairman D. Scott Elder. "We expect to continue
improving performance throughout 2000 so we can preserve and further
increase the shareholder's equity," Elder added.
"The company's business model to selectively acquire, develop and
sell or hold new entities as appropriate has already demonstrated its
validity as a major contributor to corporate revenue with positive
earnings. Given this, management will continue targeting acquisition
candidates, who can add positive value to ZiaSun's operating strategy
and growth objectives, and help maximize shareholder returns," Elder
commented.
About ZiaSun Technologies
ZiaSun Technologies Inc. is a leading Internet holding company
focused on international investor education and e-commerce and
specialized online support services within North America, Asia and
other international markets. The company's Internet portfolio
includes: Online Investors Advantage (www.i-advantage.com), Swiftrade
(www.swiftrade.com), AuctionAsia (www.auctionasia.net), Momentum Asia
(www.momentumasia.com), ServiceLive (www.servicelive.com), Momentum
Finance (www.mfinance.com) -- a top-100 financial Web site --
MEDIAhits (www.mediahits.com), Momentum Internet
(www.momentumplus.com), PINmail (www.pinmail.com), Search Dragon
(www.searchdragon.com), AsiaEnet Ltd. (www.asiaenet.com), TigerTooth
(www.tigertooth.com), and a 27% equity position in Asia4Sale
(www.asia4sale.com).
Note: 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 risks
and uncertainties that may affect the company's business prospects and
performance. These include economic, competitive, governmental,
technological and other factors discussed in the statements.
--30--jf/sd* sf/sd
CONTACT: ZiaSun Technologies
Mark Harris or Michelle Cutting, 858/350-4060
mark@pinmail.com
www.ziasun.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS E-COMMERCE INTERNET
SOFTWARE
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