Heli Electronics Corp. (fka HELI)

[Larry_Hughes]

HELI News:

Heli Electronics Corp. Reports its New Wholly Owned Subsidiary s Record First Quarter 2010 Financial Results: 194% Revenue Growth, 241% Net Income Growth Business Wire    "Press Releases - English "
GUANGZHOU, China --(BUSINESS WIRE)-- Heli Electronics Corp. (OTCBB:HELI), is pleased to announce that it has recently released Heli Holding Group’s first quarter 2010 financial results in its Super 8-K on June 16, 2010 . Heli Holding Group became Heli Electronic Corp’s wholly owned subsidiary upon the closing of a share exchange on June 15, 2010 . The following are some of the highlights for Heli Holding :


Revenues of $18.8 million , an increase of 194% from Q1/09

Net income of $1.52 million , an increase of 241% from Q1/09

Gross Profit of $2.36 million , an increase of 204% from Q1/09

Revenues of $29.8 million for the Year End, December 31, 2009 , an increase of 3,556%

Net Income of $2.22 million for the Year End, December 31, 2009 , an increase of 24,992%

Sees earnings growth momentum to continue in 2010

Sees positive impact to earnings from China's current economic environment


Heli Holding’s overall numbers grew substantially since the same quarter of 2009. Sales revenue reached US $18,840,826 , almost tripling the sales over the first quarter of 2009, of revenue of $6,406,114 . Heli Holding’s net income also grew rapidly; having reached $1,525,775 , more than tripling the Q1 2009 numbers.

These revenues were generated through sales of various audio and visual equipments distributed by the Company’s newly acquired subsidiary. Sales of the products increased during the period in 2010 due to increased market acceptance. The cost of the goods sold, accounted for at the price that we purchased the audio and visual equipment was $16,473,516 during the first quarter in 2010 and $5,628,029 in Q1 2009.

In breaking down Heli Holding’s revenue throughout China , its sales have grown by about 26% in Southern China , compared to Q1 2009. Throughout the rest of China , sales grew by an even larger rate, at almost 29%, both of which came close to original estimates. With regards to its distribution business, its orders with its TV shopping network partners grew by over 30% compared to the previous quarter.

Revenue figures for the year ended December 31, 2009 were also up and very strong. During the year ended December 31, 2009 Heli Holding generated $29,831,658 in revenues, compared to revenues of $815,992 during the year ended December 31, 2008 . This is a 3,556 % increase in revenue.

For this same year end of 2009, Heli Holding generated net income of $2,223,959 , compared to net income of $8,863 for the year ended December 31, 2008 . This represented a 24,992% increase in net income.

“We are seeing strong sales and an increase in demand for our products in the second quarter and it is this type of growth that should result in increased shareholder value,� commented Xin Qiu , Heli’s CEO and President.

About Heli Electronics Corp.

Heli Electronics Corp. (www.helielectronics.com) is traded under the symbol HELI on the OTCBB exchange and is based in Guangzhou, China . It is the primary marketing, promotion, logistics, and after-sales service agency of audio and visual (AV) products for Haier Group , a world leader in electronics and electrical appliances. Its products include speakers, multimedia stereo systems, and home theatres, among other types of AV products. The company seeks to establish a broad network in China to provide comprehensive after-sales service, brand establishment, brand promotion, distribution, and logistics management of a wide array of electronics and electrical appliances. Backed by Haier’s strong brand presence and an abundance of sales channels throughout Mainland China, HELI has grown immensely since its inception in March 2008 .