Is ZSUN DEAD?... ZiaSun Reports Continued Record Sales and Profits For The Six-Month Period Ending June 30, 2000... Record Sales of $29.9 Million in First-Half-2000 with $7.4 Million in Pre-Tax Profit and $0.39 EPS EBITDA. First-Half 2000 Sales Increased More Than 300% Over First-Half 1999...
SOLANA BEACH, Calif., Aug. 11 /PRNewswire/ -- ZiaSun Technologies, Inc. (OTC Bulletin Board: ZSUN - news; www.ziasun.com), a multi-faceted and rapidly-growing holding company, which has also recently acquired equity stakes in several new e-commerce ventures, today reported exceptional operating results for the first-half ended June 31, 2000.
ZiaSun's net sales for the first-half 2000 increased 303% to $29,970,952 from $9,899,191 in first-half 1999. First-half gross profit increased 291% year-over-year to $11,877,461 with a solid 40% gross margin. First-half fiscal results were very profitable with income before taxes of $7,425,401, or $0.39 EPS EBITDA, compared to $0.10 EPS EBITDA in first-half 1999. The large increase in first-half 2000 net sales over first-half 1999 net sales is due primarily to the continued global growth of OIA, which was not a subsidiary of the Company in Q1-1999.
As of June 30, 2000, the Company had $10,735,929 in cash and receivables, total current assets of $12,140,965 and $134,426,398 in total assets. The increase in current assets at June 30, 2000, compared to June 30, 1999, is primarily due to the increase in cash from $5,483,031 to $9,312,769, an increase of $3,829,738 or 170%. ZiaSun also reported no long-term debt and $128,125,421 in total stockholders' equity at the close of first-half 2000.
These numbers include Momentum Internet Inc. (MII), which management expects to sell in exchange for 725,000 shares of ZiaSun's common stock during the third quarter of 2000. MII had net sales of $737,603 during the six months ended June 30, 2000.
``ZiaSun remains focused on selective investments in e-commerce businesses, along with a growth strategy, which we believe to be in the best interest of our shareholders. The fact that ZiaSun's revenues for the first six months of 2000 exceed its total revenues for the fiscal year 1999, is a clear indicator that we are accomplishing our ongoing growth objectives while maintaining profitability,'' stated D. Scott Elder, ZiaSun's Chairman. ``ZiaSun is particularly focused on lucrative e-finance and education sector businesses that either demonstrate an existing or relatively short 'Path-to-Profits' business model,'' Elder further commented.
In recent months, the pace of ZiaSun's global expansion efforts have quickened. Along with balancing its international holdings to better meet its growth and profitability objectives, the Company recently finalized a key alliance with The McKenna Group. This relationship is expected to play a major role in presenting the Company with choice, early-stage investment opportunities in unique, new companies providing market-leading Internet technology applications. Additionally, this provides an extra business dimension to ZiaSun that is simply not present in most other companies of its size and relatively new presence in its business sector.
About ZiaSun Technologies, Inc.
ZiaSun Technologies, Inc. is a multi-faceted Internet technology holding company focused on international e-finance and investor education, along with selective e-commerce opportunities. It specializes in online support services within North America, Asia and other international markets. The Company's portfolio *currently includes: Online Investors Advantage (www.i-advantage.com), Momentum Asia, Inc. (www.momentumasia.com), ServiceLive (www.servicelive.com), Momentum Internet, Inc. (www.momentumplus.com), PINmail (www.pinmail.com), MEDIAhits (www.mediahits.com), Swiftrade (www.swiftrade.com), AsiaEnet Ltd. (www.asiaenet.com), Tigertooth (www.tigertooth.com), Search Dragon (www.searchdragon.com), M Finance (www.mfinance.com -- a top-100 financial Web site), and a 19 percent equity position in Asia4Sale (www.asia4sale.com).
NOTE: It is anticipated that certain holdings will soon be sold back to Vulcan as announced in a prior Press Release.
About The McKenna Group
The McKenna Group, in a team effort with its clients, helps them build new business ventures and reinvent existing businesses for the new, customer-driven economy. Its broad spectrum of clients, from Global 100 firms to start-ups, includes some of the most exciting firms transforming the commercial landscape through innovation in new value propositions, business designs and enabling technologies.
The McKenna Group has been headquartered in Silicon Valley, home to many of the core technologies shaping the new economy, for more than twenty years. During that period, they have worked with most of the Valley's technology and business leaders. In total, they have a network of six offices in North America, five in Europe (through an equity partner) and Tokyo.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that my be considered forward-looking statements could be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of marketing efforts and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release.
Contact Michelle Cutting, Shareholder Services of ZiaSun Technologies Inc., 858-350-4060, mcutting@pinmail.com.
SOURCE: ZiaSun Technologies, Inc. |
