yes hard to believe, wondering if it will make a huge comeback or not. Would think someone would notice this as a great value play especially seeing how cheap it is.
Sales Exceeded $14 Million in 2008 for DIAS Holding, Inc. Wednesday April 22, 2009, 6:00 am EDT
ALLEN PARK, MI--(MARKET WIRE)--Apr 22, 2009 -- DIAS Holding, Inc. (OTC BB:DSHLE.OB - News) filed its 10-K report to the SEC, and announced today that sales totaled $14.5 million for 2008 compared to $14.5 million in the previous year. "Although we initially expected to top our 2007 sales," stated Sara Wang, CFO of DIAS Holding, "the Company encountered expediting costs in the third quarter, and a decrease in customer deliveries in the fourth quarter at our AFS subsidiary. These appear to be timing delays, as our customers stretch out deliveries during this recession. We are in discussions with these customers now for finalizing deliveries."
Our AFS business mix is weighted on our aftermarket customers," stated Eric Huang, Chairman and CEO. "The downturn in the U.S. automotive market has also affected the aftermarket spare parts pipeline, and we are continuing our discussions with our customers for better forecasts."
The 10-K report cites start-up costs at its Detroit International Auto Salon subsidiary impacting its bottom line. "Despite the slight decrease in planned sales for 2008 at AFS, they solidly contributed for the Company," cited Ms. Wang. "We intend to harvest our strategic partnerships and relationships established by our auto salon subsidiary and make DIAS a larger contributor to our bottom line in 2009."
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