ETLT-News Eternal Technologies Group, Inc.: Forecast of Operations for the Third Quarter of 2006
By BusinessWire
Last Update: 9/6/2006 8:00:55 AM Data provided by
HOUSTON, Sep 06, 2006 (BUSINESS WIRE) -- Management of Eternal Technologies Group, Inc. (ETLT) today announced their projected earnings for the third quarter of 2006.
For the first six months of the current fiscal year, the company reported earnings of 2,199,499. This compared with earnings of 1,829,860 for the corresponding period of the prior year, an increase of 20.2%. For the three months ended June 30, 2006 the company earned $1,658,700 compared to $1,875,575 for the corresponding period of the prior year.
For the third quarter of 2006 the company anticipates that its income will exceed that of the second quarter $1,658,700 and will significantly exceed the earnings of the third quarter of calendar year of 2005 $1,068,308.
The company's business continues to evolve with the changing conditions in China. The company is currently conducting due diligence toward the acquisition of several additional Chinese businesses. The first is to expend its agricultural operations; the second is to expend its high tech operations (of which its medical device maker E-Sea is a part). Assuming the successful completion of its due diligence, the company anticipates concluding these acquisitions in the fourth quarter. The company's objective to fine tune its operations, fill in gaps in its existing product lines and to strengthen those which are already producing above average rates of return.
The company is also pleased to announce that it will hold its 2006 annual meeting in Houston, Texas on October 12, 2006. Proxy information should be mailed in approximately weeks.
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