ZiaSun Reports Record Sales and Profits for the Three-Month Period
Ending March 31, 2000 (Q1-2000)
Record Sales of $14.5 Million in Q1-2000 With $4.2 Million in Pre-Tax Profit And $0.20 EPS
EBITDA; Q1-2000 Sales Increased More Than 15 Times Over Q1-1999
SOLANA BEACH, Calif., May 17 /PRNewswire/ -- ZiaSun Technologies, Inc. (OTC Bulletin Board: ZSUN - news;
www.ziasun.com), a diversified Internet holding company, today reported exceptional operating results for the quarter ended
March 31, 2000. The Company also announced it cleared comments with the SEC on its Form 10-SB Filing On May 12,
2000, and will now submit its application for listing on the American Stock Exchange.
ZiaSun's net sales for Q1-2000 increased more than 1536% to $14,498,361 from $885,871 in Q1-1999. First-quarter gross
profit increased 1326% year-over-year to $7,023,447 with a solid 48% gross margin. Q1-2000 fiscal results were very
profitable with income before taxes of $4,244,450, or $0.20 EPS EBITDA, compared to $0.01 EPS EBITDA in Q1-1999.
The large increase in Q1-2000 net sales over Q1-1999 net sales was primarily due to the acquisition of OIA, which was not a
subsidiary of the Company in Q1-1999.
As of March 31, 2000, the Company had $16,801,667 in cash and receivables, total current assets of $18,497,113 and
$136,897,395 in total assets. The increase in current assets at March 31, 2000, over March 31, 1999, is primarily due to the
increase in cash from $886,812 to $15,734,397, an increase of $14,847,585 or 1674%. ZiaSun also reported no long-term
debt and $124,880,579 in total stockholders' equity at the close of Q1-2000.
``We achieved tremendous revenue and earnings growth for the quarter ended March 31, 2000. Furthermore, on an
annualized basis sales and net income continue to grow in Q2-2000,'' stated Allen D. Hardman, ZiaSun's President and CEO.
``As an integral part of our growth strategy, the Company will continue targeting selective acquisitions and/or strategic alliances,
which will strengthen its operations and help enable the Company to meet its growth objectives. As we prepare for expansion
into Europe in the near future, and other parts of the world later this year, we believe such key acquisitions and alliances will
play a major role in maintaining the Company's profitable growth and development,'' Hardman added.
``Management recognizes there were some concerns on the part of its shareholders while ZiaSun was in the process of clearing
SEC comments, and extends its sincere appreciation to its shareholders for their continued support during this period,''
Hardman commented.
About ZiaSun Technologies
ZiaSun Technologies, Inc. is a leading Internet technology 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 portfolio 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 website), and a 19% equity position in Asia4Sale (www.asia4sale.com).
``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.
SOURCE: ZiaSun Technologies, Inc. |
