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Technology Stocks : Eiger Technology (OTC-BB ETIFF) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Hamilton who wrote (64)	3/2/2001 11:14:57 AM
From: Dan Hamilton	Read Replies (1) \| Respond to of 67

Not too rosy in the short term. 2001 sales will likely be half of 2000.... Eiger Technology, Inc. Announces First Quarter Results 11:51 GMT-05:00 Thursday, March 01, 2001 Eiger Technology, Inc (Eiger) announced that it has retained its customer base in the face of a difficult quarter for the electronic lighting ballast, computer and electronics industry. Eiger's sales for the 3 months ended December 31, 2000 were $ 9,671,000 vis a vis $18,169,000, year over year 47% decrease with a net loss of $ 607,000 this year vis a vis net profit of $ 620,000. Working capital includes a cash balance as at December 31, 2000 of $11,502,000 available for acquisition and operating requirements. Loss per share of $0.02 this year vis a vis a $0.03 earnings per share was a result of the down turn in the computer peripheral business in the first fiscal quarter of 2001. Eiger's Korean manufacturing facility, Eiger Net, Inc. has maintained a customer base of OEM customers throughout the difficult quarter ended December 31, 2000. Eiger Net management continues to aggressively market Eiger's research, manufacturing and marketing expertise to both current and prospective OEM customers. Eiger's management team continues to aggressively pursue strategic acquisitions and to create long-term shareholder value while building on the solid base created in the year 2000 in the computer peripheral and wireless marketplace. Eiger officially had its corporate jurisdiction changed from British Columbia to Ontario during this quarter. This change was approved at last years Annual General Meeting. Eiger announced on February 20, 2001 that it has signed a memorandum of understanding to purchase a 55% equity interest in Standard Telecom America, Inc. Eiger, also, announced its intention to acquire a 31.25% interest in Nixxo Technologies, Inc. It is anticipated that the Company's business outlook for the quarter ended March 31, 2001 will be similar to the quarter ended December 31, 2000. Eiger Technology, Inc. is headquartered in Toronto, Ontario. Through its facilities in South Korea, New Jersey and California, Eiger manufactures and distributes electronic and computer peripherals such as 56k fax/modems, MP3 players and DSL modems to OEM and consumer markets worldwide. Eiger is a publicly traded company listed on the Toronto Stock Exchange (symbol: AXA). Visit Eiger Technology Inc.'s web site at www.eigertechnology.com.