DAAT announces in the Q3 earnings PR that October revenue was almost as big as Q3 revenue! Q3 EPS was $0.014/share and Q4 should be a monster. Also, dropping commodity prices is improving GM going forward. BV is $0.80/share. IMO DAAT is quite undervalued at $0.37/share.
Mike
DAC Technologies Announces Third Quarter Results and October Sales
Monday November 17, 8:30 am ET
LITTLE ROCK, AR--(MARKET WIRE)--Nov 17, 2008 -- DAC Technologies (OTC BB:DAAT.OB - News) today announced third quarter sales of $3,920,460 for the quarter ending September 30, 2008, versus $3,380,969 for the same period in 2007, a difference of $539,491. Income from operations for the third quarter 2008 was $232,490 versus $296,627 for the same period in 2007, a difference of $64,137. Net income for the third quarter of 2008 was $83,484 versus $146,768 for 2007, a difference of $63,284.
Sales for the month of October 2008 were $3,610,744 versus $2,468,877 for October 2007, a difference of $1,141,867.
David A. Collins, Chairman and CEO, stated, "The Company continued to struggle with gross margins due to high commodity prices and high shipping costs relating to goods purchased earlier in 2008 for sales in this quarter. The Company is starting to see lower prices across the board because of the fall in commodity prices and oil. We expect gross margins to increase going forward."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Marlin, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
For Shareholder Information please call 1-800-920-0098 or email at investorrelations@dactec.com.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward-looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.
Contact:
Contact:
Shareholder Information
1-800-920-0098
Email Contact
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Source: DAC Technologies Group International, Inc.
