Xodtec Group USA, Inc. Reports First Quarter Fiscal Year 2010
Xodtec Group USA, Inc. Reports First Quarter Fiscal Year 2010 Results PR Newswire CARSON CITY, Nev., Oct. 21 CARSON CITY, Nev., Oct. 21 /PRNewswire-FirstCall/ -- Xodtec Group USA, Inc. (OTC Bulletin Board: XODG) ("the Company"), an Energy-Saving Lighting Solutions Provider based in Taiwan, today reported financial results for the three months ended August 31, 2009. First Quarter of Fiscal 2010 Highlights -- Gross sales increased to $3,006,055 from $587,172 for the comparable period in 2008. -- Gross profit increased to $1,248,527 from $392,839 during the prior year. -- Operating income increased to $758,421 from $158,258 during the same period in 2008. -- Net income was $757,165 compared to $157,019 in the prior year. -- Net income per common share was $0.05 basic and diluted, versus $0.02 for the prior year. Revenue is derived from sales of our advanced lighting products and solutions. These products consist of solid-state LED lighting lamps, fixtures, and control systems. Besides the LED lighting related businesses, some of our revenue comes from our professional project management service such as energy-saving system design, landscape lighting design, and language globalization services. About Xodtec Group USA, Inc.: Xodtec, a Nevada corporation, is an Energy-Saving Lighting Solutions Provider based in Taiwan. Xodtec provides high performance and cost-effective energy-saving LED solutions and traditional lighting products for private companies, public facilities, residential communities, factories and households, providing optimal energy-saving solutions that meet today's energy management requirements. Please visit our website http://www.xodtec.com.tw/xodtec/ for detail company information. Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Xodtec Group USA, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission. Hanover Financial Services Ronald J. Blekicki, 303-494-3617 Info@hanoverfinancialservices.com SOURCE Xodtec Group USA, Inc. Website: http://www.xodtec.com.tw/xodtec/ Contact: Ronald J. Blekicki of Hanover Financial Services, +1-303-494-3617, Info@hanoverfinancialservices.com, for Xodtec Group USA, Inc.