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Semicon Tools "SETO" Reports Highest Quarterly and Nine Months Sales
BusinessWire, Tuesday, December 09, 1997 at 10:42
ARMONK, N.Y.--(BUSINESS WIRE)--Dec. 9, 1997--Gene Pian, president
of Semicon Tools Inc. (OTC BB:SETO), today announced that the company
realized its highest quarterly and nine month net sales in its
history.
Net Sales for the quarter ended Oct. 31, 1997 was $557,043 as
compared to $364,070 for the comparable period ended Oct. 31, 1996, an
increase of approximately 53 percent. For the nine months ended Oct.
31, 1997 compared to the nine months ended Oct. 31, 1996, net sales
increased to $1,491,823 from $1,111,072 or 34 percent. Net income was
$78,241 for the 1997 quarter as compared to $20,307 for the same
quarter of 1996 or 385 percent higher and net income of $149,607 for
the nine months ended Oct. 31, 1997 was 55 percent higher than the
$96,660 for the nine months ended Oct. 31, 1996.
Pian repeated his belief that for the fiscal year ending Jan. 31,
1998 the company will experience record annual sales even without
taking into account the recent acquisition of Teik Tatt (1979)
Sdn Bhd. Teik Tatt will add considerable revenues and profits as of
the fiscal year end based on current record bookings.
On a proforma basis taking into account the recent acquisition of
Teik Tatt Holdings, for nine months ended Oct. 31, 1997 STI had sales
of $16,209,922 a 99 percent increase over the $8,143,050 in sales for
the comparable period Oct. 31, 1996 and net income of $1,742,122 an
80 percent increase over the nine months ended Oct. 31, 1997 as
compared to $965,495 for the comparable nine months ended Oct. 31,
1996.
Semicon Tools Inc. ("STI") has been a public company since 1987
and operates through three divisions. (STI) is primarily a
manufacturer and distributor of diamond cutting tools used by the
microelectronics and semiconductor industries. East Coast Sales Inc.
(ECS), in business since 1975, is a wholly-owned subsidiary that is a
value added fabricator and distributor of technical ceramic products
and disposable clean room supplies. DTI Technology, Sdn Bhd
(Malaysia) a wholly-owned subsidiary manufactures products sold by the
other two divisions and sells direct to an additional base of
semiconductor manufacturers in Asia. The company's divisions sell
their products to hundreds of Fortune 1000 companies, including such
customers as IBM, National Semiconductor, Motorola, General Motors,
Coors and Westinghouse.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995. Statements contained in this press 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.
SJ |
