LOS ANGELES, Jan 16, 2001 (BUSINESS WIRE) -- Score One (OTCBB:SCRO) announced the filing of its Form 10-QSB with the Securities and Exchange Commission on January 12, 2000, for the three-month period ended November 30, 2000.
For the three-month period ended November 30, 2000, net income increased 75% to $1.7 million as compared to the same period ended November 1999, while gross profit margin also increased to 39.2% from 22.8% in 1999. Roy Ho, president and CEO of Score One, stated, "We attribute the Company's increase in net income and gross profit margin to our successful entrance into higher profit margin PCB markets, our providing of additional value-added services to our clients during the last two quarters and lower production costs as a result of bulk purchases of raw materials at comparatively lower prices." Mr. Ho added, "With the highly anticipated entry of China into the World Trade Organization, we expect numerous doors to open, which will enable us to capture an abundance of new and lucrative business for many years to come."
The total earning per share of $.09 for the three-month period ended November 30, 2000, constitutes an extremely significant increase of 50% over the previously reported $.06 for the same period ended November 30, 1999. During the previous six-month reporting period ended November 30, 2000, shareholder equity appreciated by 64% from $4.84 million to $7.95 million, corresponding to a $.156 appreciation in Book Value to $.40 in total.
Roy Ho added, "We continue to demonstrate our ability to report consecutive periods of increasing profitability and our dedication to maximizing investment returns and shareholders' value."
About Score One (SCRO): The company manufactures specific application printed circuit boards (PCBs) including flexible double sided conductive carbon and polyester based PCBs principally to OEM manufacturers of brand named consumer electronics companies such as Sharp, Canon, Citizen, Sony and Hitachi, and are certified at IS0 9002 level. The consumer electronics and telecommunication products include, and are not limited to, hand-held organizers, scientific calculators and mobile phones.
This press release should be read in conjunction with the 10-Q filed on Jan. 12, on Freeedgar.
Forward-looking statements in this release are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Financials at www.sec.gov.
CONTACT: Bordwell Financial Group Angela Bordwell, 805/579-1712 abordy01@yahoo.com
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KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE EARNINGS
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