SDGL YES: It was just a matter of time! Pretty low key company with some great results for the last 5 years. Now with the greater momentum starting to pick up in sales and profits more are taking notice! The US Contract I feel was very significant!
Secured Digital Reports Excellent 2007 Results; Revenue Reached Record $47.7 Million and Net Income $1.62 Million
Business Wire "US Press Releases "
NEW YORK--(BUSINESS WIRE)--
Secured Digital Applications, Inc. (OTCBB:SDGL), a provider of mobile communication, outsourced business and information technology consulting services, today announced its excellent financial results for the year ended December 31, 2007.
In its annual report filed with the Securities and Exchange Commission, the Company said that revenue for 2007 totaled $47.7 million compared to $36.95 million for 2006, representing a 30% increase. Net income for 2007 was $1,622,621, up 147%, compared to $657,384 for 2006.
"2007 was a very significant year for us when we secured contracts in the United States and China for the sale of Global Positioning System and Radio Frequency Identification-enabled applications," said Patrick Lim, Chairman and CEO of SDGL. "We expect to generate revenue from these contracts in the second quarter of 2008. In addition to the Company's current offerings, we will also be focusing on the sale of our Bluetooth-enabled applications for the high growth market in Asia during 2008."
The Company reported that it had acquired and utilized the source code for Bluetooth cell management, cell integration and proximity marketing software in 2007 to develop new compelling applications for the retailing, logistics and warehousing, telecommunication, transportation, healthcare, security and manufacturing industries. SDGL is currently in the process of appointing channel partners in Australia and China to market its value added Bluetooth-enabled applications.
SDGL will continue to maintain its proactive and aggressive marketing efforts to ensure the growth and profitability of the Company. SDGL is reaffirming its previously announced 2008 revenue forecast between $55 - $60 million and net income in the range of $2.5 - $3.5 million.
About Secured Digital Applications, Inc.:
Secured Digital Applications, Inc. is a provider of mobile communication, outsourced business and information technology consulting services. We generate revenue through our majority or wholly-owned subsidiary companies located in the United States and Malaysia. Our business is organized under two divisions. The first division is involved in multimedia production, information technology, computing consulting and business process outsourcing services; sale of smarthome and biometric security solutions. The second division handles Bluetooth, Global Positioning System (GPS) and Radio Frequency Identification (RFID) enabled applications. The Company's media production includes content for television, the Internet and multimedia presentations. The Company's current target market for its products and services include customers from the United States, Asia and Australia. For more information, please visit www.digitalapps.net, www.eystar.com and www.sdawmedia.com. Information on our websites does not comprise a part of the press release.
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