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(OTCBB:CWDK) China Water and Drinks, Inc.
China Water and Drinks Inc. Reports Record Fiscal Year 2007 Results
LAST $8.99 USD
Monday May 5, 8:00 am ET
SHENZHEN, Guangdong, China, May 5 - China Water and Drinks Inc. (OTC Bulletin Board: CWDKE - News; "China Water and Drinks" or "the Company"), a leading producer and distributor of bottled water in the People's Republic of China , recently reported record financial results for fiscal year 2007.
Full Year 2007 Highlights - Revenue increased 59% year-over-year to a record $56.8 million - Gross profit increased 114% year-over-year to a record $19.4 million - Gross margin improved from 25.4% to 34.2% - Net income grew 211% to a record $19.4 million, or $0.24 per fully diluted share - Acquired 100% of Nanning Taoda Drink Company Limited in exchange for cash of $5.3 million and common stock shares totaling a value of $5.3 million to be issued in future - Acquired 66.67% of Shenyang Aixin Industry Limited , for $1.1 million in cash and 177,333 shares of common stock - Acquired 48.0% of Hutton Holdings Corporation in exchange for $9.0 million and 2.1 million shares of common stock
Full Year 2007 Results
Revenues for the full year of 2007, which were $56.8 million, increased 59% over the full year results of 2006. The Company's newly acquired bottled water production plants, Nanning and Shengyang, which were acquired on June 15, 2007, and August 24, 2007, respectively, increased total capacity and allowed the Company to meet the rapidly expanding demand in southwest and northeast China.
Income from operations in 2007 was $17.5 million, up 193% from 2006. Operating margin was 30.8%, up from 16.7% in 2006.
Net income for the full year 2007, was $19.4 million, or $0.24 per fully diluted share, up 211% from $6.3 million, or $0.10 per fully diluted share, in 2006.
Business Outlook
According to recently published data from Beverage Marketing Corporation , from 2002 to 2007 China represented the most rapidly expanding country worldwide in terms of consumption of bottled water, showing compound annual growth projections of 17.5%, which is double that of the United States.
This growth trend in China continues to be driven by increasing demand for bottled water which is clean and safe to drink. This trend is enhanced by China's rapidly increasing number of middle-income consumers. The middle- income expansion is not matched by improvements in key infrastructure services such as piped water, which remains undrinkable in many areas and therefore creates significant opportunities for growth in our business. Health and wellness remain key drivers of growth with the increasing demand for healthier and more natural products and shows no signs of relenting over 2008, according to Euromonitor.
Our ability to meet the growing demand is aided by the construction of China Water and Drinks' new factory in Changchun City which is nearing completion and is expected to begin production in July of 2008. The new factory is expected to have an initial annual production capacity of 178.5 million bottles, or 130 million liters.
Management retains previous financial guidance for the year 2008 with projected revenue to be about $105.0 million and projected net income of about $30.0 million.
"In 2008, we plan to take advantage of the ever increasing demand for high quality and safe drinking water by China's emerging middle class," commented Mr. Chen. "In addition to building our new facility in Changchun City, we intend to use the proceeds from our recent financing transactions to expand production through acquisitions. We will also strive expand our distribution network and leverage the Darcunk brand by expanding our product offerings to include new specialty water products, such as flavored and nutrient rich bottled water products."
About China Water and Drinks Inc.
China Water and Drinks Inc. is a leading producer and distributor of bottled water in China. Through its production facilities in Guangzhou, Zhanjiang, Feixian, Changchun, Nanning and Shenyang, the Company produces and distributes bottled water to thirteen provinces in China. The Company markets its own product under the brand 'Darcunk', supplies purified water to both local and international beverage brands such as Coca-Cola and Uni-President and provides private label bottled water for companies such as Sands Casino, Macau.
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(OTCBB:EGTK) Energtek, Inc.
Energtek and Confidence Petroleum Sign $23M JV Exclusivity Pact to Commercialize ANG Technology
LAST $1.60 USD
Monday May 5, 7:04 am ET
Agreement Grants JV Exclusive Rights to Sell Natural Gas Through Energtek's Proprietary Hi-Tech Supply Systems in India, Pakistan, Bangladesh and Sri Lanka
VALLEY STREAM, New York, May 5 /-FirstCall/ - Energtek Inc. , world leader in the development of Adsorbed Natural Gas technology, and Confidence Petroleum India Limited , one of Asia's largest cylinder manufacturers and marketers, announced recently the signing of an exclusivity pact to commercialize Energtek's proprietary ANG technology supply solutions in India and surrounding nations.
The agreement will grant the companies' recently formed joint venture exclusive rights to sell Natural Gas through Energtek's proprietary Fast Interchangeable Tanks, and Low-pressure Mobile Pipeline systems in India, Pakistan, Bangladesh and Sri Lanka. These Hi-tech Natural Gas supply solutions are designed to provide affordable and environmentally-friendly pipeless Natural Gas to automotive fleets and industrial consumers respectively throughout Southeast Asia.
Confidence Petroleum will finance the joint venture with an additional $23 million as part of the exclusivity pact. Confidence Petroleum recently acquired co-ownership of Energtek's subsidiary Primecyl LLC., for $2 million. A fully-owned Primecyl subsidiary, Confi Energtek Asia, will be established to conduct Joint Venture operations in India and throughout Asia.
"Our plan is to take ANG across India and make it available across all small & major cities of India," said Confidence Petroleum Chief Managing Director Nitin Khara. "Socio-economic developments including the skyrocketing price of oil and increased pollution have caused governments, businesses and consumers to seek alternative fuel supplies, and diversify their energy resources. Natural Gas is the most practical existing motor fuel alternative to Petrol."
"Confidence Petroleum's dedication to providing affordable and clean energy to the residents of India using ANG technology is outstanding," said Energtek CEO Lev Zaidenberg. "ANG represents the right technology at the right time in India, and throughout Asia. We are eager to commercialize ANG technology in India exclusively through the fertile marketing channels of Confidence Petroleum and our joint venture."
About Energtek
Energtek develops and applies proprietary ANG technology to provide complete well-to-wheel pipeless Natural Gas supply solutions to large automotive and commercial consumers. Energtek's Natural Gas solutions reduce pollution and alleviate consumer energy costs, particularly within the large, growing market of low-income 2- and 3-wheel vehicle drivers in Asia. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about the benefits of ANG Technology, visit http://www.energtek.com
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(OTCBB:LGHL) Logica Holdings, Inc.
Logica Holdings Announces Marketing Partnership With OurTown Media
LAST $0.60 USD
Monday May 5, 7:30 am ET
New Partnership Will Further Expand Distribution of Logica's Annesdiary.com Through OurTown Media's 70,000 Local News Sites
TORONTO, May 5, 2008 - Logica Holdings, Inc. and it's subsidiary Anne's World, recently announced that it has agreed to a strategic partnership with OurTown Media, LLC to further expand its distribution platform and marketing efforts for Annesdiary.com , the first secure social networking site for children that uses biometric technology to verify the age and identity of users.
OurTown Media is a nationally branded, interactive, hyper-local network for news and community information covering 70,000 local sites, encompassing every populated postal zip code in the U.S. OurTown also publishes sports content and local weather to each targeted ZIP code.
``We look forward to increasing our viewer base through Ourtown.com's nationally branded platform. Ourtown has a leading edge in the local advertising marketplace, capturing a local audience through its 70,000 local editors who are establishing relationships with their viewer base in their respective communities,'' stated Pino Baldassarre, Chief Executive Officer of Logica Holdings, Inc. ``The structure of this transaction is performance-based and creates a win-win incentive for Annesdiary.com and Ourtown.com. We are confident this will be a very beneficial relationship for both parties and are excited to work with an organization such as OurTown Media that is targeting the local ad marketplace.''
``We are very excited about partnering with an organization that is providing a unique platform that protects the identity and confidentially of our children while also giving them the ability to learn, communicate and benefit from a virtual environment such as Anne's Diary,'' said Roger Ach, Chief Executive Officer of OurTown Media, LLC. ``Through our distribution platform at http://www.ourtown.com we are confident that we can significantly build the awareness of http://www.annesdiary.com. We look forward to further building our relationship with Logica and working with them on their full suite of products and services.''
ABOUT OURTOWN, LLC
OurTown, LLC is a nationally branded, interactive, hyper-local network for news and community information covering 70,000 local sites for every populated ZIP code in the U.S. OurTown publishes national and regional news, sports, content and local weather to each ZIP code.
ABOUT ANNESDIARY.COM
Through a licensing agreement with Anne's World, annesdiary.com is the world's first secure social networking site for children. Protected by leading-edge biometric technology in the form of a fingerprint reader, annesdiary.com is an interactive world in which young people inspired by the stories of Anne of Green Gables are encouraged to explore their own creativity. In partnership with Fujitsu Limited, Novell Technologies and 123ID, Anne's Diary is setting new standards in online safety for children.
ABOUT LOGICA HOLDINGS, INC.
Logica Holdings, Inc. is a company whose primary focus is in the e-commerce and information technology sectors. The current configuration of held companies reflects a common theme: the growing global market for social networking and downloadable entertainment content. This is the essential idea behind the entities that are currently part of Logica Holdings, which include Plays On the Net, a comprehensive and global online guide to theater, Anne's World, licensee of Annesdiary.com, the world's first secure social networking site for girls ages 5-14, and Curtain Rising, a user-friendly search engine which will enable theater-goers to locate productions, venues and information with ease.
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(OTCBB:KMAG) KMA Global Solutions International, Inc.
KMA Global Solutions Hong Kong Signs Source Tagging Agreement With Major Garment Agent
LAST $0.11 USD
Monday May 5, 3:05 am ET
MISSISSAUGA, Ontario, May 5, 2008 - KMA Global Solutions International, Inc. announced recently that a major apparel agent to retailers in Canada and the U.S. has agreed to make KMA Global Hong Kong the exclusive supplier of Electronic Article Surveillance products, to be sewn into the garments at their source. Current demand is estimated to be in the millions of units annually for this source tagging program.
``This is an important step for KMA as it establishes its sales force in Asia to contact the major agents that control a large portion of the buying for many of the major retailers,'' said Jeffrey D. Reid, Chief Executive Officer of KMA Global Solutions International Inc. He continued, ``We plan to continue this strategy targeting all major agents and their buying offices.''
In recent years, retailers have increasingly demanded floor ready merchandise, a concept that includes EAS protection. Under KMA's source tagging program, security tags are embedded in products or affixed to packaging at the point-of-manufacture. The company's patented NEXTag, a sewn-in solution designed for all types of apparel including swimsuits, intimate apparel and jeans, represents the latest technology in source tagging with widespread adoption now underway by apparel manufacturers throughout the world.
About KMA Global Solutions International, Inc.
KMA Global Solutions International, Inc. is a leading worldwide manufacturer and supplier of Electronic Article Surveillance labels for the multimedia, retail apparel, health/beauty aids, soft goods, and over-the-counter pharmaceutical industries. KMA provides low cost solutions for retail protection against inventory theft, offering customized labels that use a variety of patented formats to meet unique packaging needs. KMA's patent pending DUALTag is the only product available that combines the two leading EAS technologies in a single, high speed application to eliminate the need for multiple inventories and its patented NEXTag is the solution of choice for soft goods as a small, flexible non-woven label conveniently sewn into a garment at its manufacturing source.
At KMA, our Business Mission is to constantly reinforce our industry leadership as a preferred competitive supplier in the timely delivery of superior, cost effective, source tagging products - all the time, every time.
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