MHUI .004 MicroHoldings US, Inc. Releases Second Quarter Financials for XchangeTel Subsidiary
Jul 25, 2007 9:48:00 AM
Copyright Business Wire 2007
SAN DIEGO--(BUSINESS WIRE)--
MicroHoldings US, Inc. (Pinksheets:MHUI) today released second quarter 2007 financial information for its subsidiary XchangeTel, Inc. (Xtel). For the period of April 1, 2007 to June 30, 2007, Xtel produced $676,696 in gross revenues and had gross profits of $78,056. These gross revenues numbers represent an increase of more than 38% over the first quarter results of $491,000. These financials were not audited by an independent auditing firm.
XchangeTel was acquired by MHUI on March 31, 2007 and with the German based subsidiary, GDS Global Destination Services, is one of the two wholly owned subsidiaries dedicated to providing carrier and telecommunications services.
Stated Joseph Putegnat, Director of Operations for XchangeTel, "Our growth has been solid the last several months and we expect to continue to improve in the months to come. Our ability to work closely with our sister company, GDS, in Germany should also result in increased revenues numbers for the company."
More information on the MicroHoldings US, Inc. can be found at www.microholdings-us.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of MHUI are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future MHUI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and MHUI has no specific intention to update these statements.
Source: MicroHoldings US, Inc.
----------------------------------------------
MicroHoldings US
Inc.
Jeffrey Flannery
619-342-8096
News 
Market Data 
Discover 
