DIRKS & COMPANY MAINTAINS 'STRONG BUY' RECOMMENDATION FOR ZIASUN TECHNOLOGIES
Solana Beach, California - ZiaSun Technologies, Inc (OTC Bulletin Board: ZSUN), a profitable Internet holding company, today announced that the New York-based brokerage and analyst firm, Dirks & Company, Inc. originated coverage of the Company and reported a strong buy recommendation. The report is available at www.ziasun.com.
The report included comprehensive coverage of ZiaSun, spotlighting the Company's top management executives and its three operating segments: e-Learning, e-Commerce and e-Incubator. Based on the Company's first quarter operating results, the report offered a thorough earnings outlook for the year 2000, projecting annual Revenues of $60 million, 50 percent Gross Profit Margins and Operating Expenses of $1 million per month. Pertaining to ZiaSun's bottom line results, Dirks forecasted the Company would more than double its 1999 EBITDA, finishing the year with EBITDA of $23 million.
Based upon ZiaSun's debt-free balance sheet and above average revenues and earnings growth, the report estimated the Company can command a $1 billion market capitalisation within six to nine months and a stock price of $30/share. By 2002, it is anticipated ZiaSun will accumulate revenues of more than $250 million, with $1.55 earnings per share.
Summarising its statements, Dirks noted, "We continue to maintain that ZiaSun has the potential to achieve a doubling in its Revenues this year and in each of the succeeding two years. Gross Profit Margins are forecast at 50 percent, which is consistent with First Quarter results, however, given the robust top line growth, we would expect these margins to gradually increase to the 60 percent level."
About ZiaSun Technologies, Inc.
ZiaSun Technologies, Inc. is a leading Internet technology holding company focused on international investor education and e-commerce and specialised online support services within North America, Asia and other international markets.
"Safe Harbour" 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.
Web site: ziasun.com
Distributed by PR Newswire on behalf of ZiaSun Technologies
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