insane dividends

[wzebra33]

ERSO.pk, a distributor of value added, semi-finished metal products, today announced net income for the three and nine months ended September 30, 2010 of $2,957,000 and $7,893,000 as compared to $(1,511,000) and $(1,084,000) for the same periods in 2009. Net income for the three and nine months ended September 30, 2010 was $0.31 and $0.84 per share on a fully diluted basis as compared to $(0.16) and $(0.11) on a fully diluted basis for the same periods in 2009.

"I am pleased to report that our company experienced greatly improved performance for the nine month period of 2010, both in terms of sales and earnings. These results were achieved despite a continued challenging economic environment," said Nathan Kahn, Chief Executive Officer.

The Company also announced that its Board of Directors has declared a regular cash dividend of $0.025 per share and a special dividend of $0.10 per share. The regular and special dividends are payable on December 14, 2010 to stockholders of record at the close of business on November 29, 2010.