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(M2 PressWIRE Via Acquire Media NewsEdge) Stock Hunter PRESENTS : (OTCBB: SNWT) San West, Inc., (OTCBB: PTCK) Pro-Tech Industries, Inc., (OTCBB: DGDM) Digital Development Partners, Inc., (OTCBB: STTN) Smart-Tek Solutions, Inc., (OTCBB: BGNN) B Green Innovations, Inc., (NASDAQ: DEER) Deer Consumer Products, Inc.
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(OTCBB: SNWT - San West, Inc.)
LATEST NEWS!!
San West, Inc. Reports Record Revenue for First Quarter 2010
Revenue for the First Quarter Increases 175% vs. Q1 2009
SANTEE, CA, May 17, 2010 -- San West, Inc. (OTCBB: SNWT), an emerging leader in the off-road vehicle (ORV) industry and operator of the industry leading On Road Vehicle portal, www.CountyImports.com, today reported financial results for its first quarter of 2010, the period ended March 31, 2010 and provided guidance for expected second quarter 2010 results.
Operational and Corporate Highlights -- www.CountyImports.com introduced a new motorized scooter, a 300cc Chariot, with best-in-class power and unprecedented range targeted to the mass market. The 300cc Chariot attracts a full spectrum of riders and generates enough power to literally drive across the United States at speeds of 100 miles per hour with 80 mile per gallon efficiency. To complement the power and environmentally favorable performance, all 49cc-300cc Trikes sold by CountyImports.com -- including the 300cc Chariot -- are equipped with a fully automatic CVT power train and reverse-drive capabilities.
-- The Company announced significant improvements to a number of key business metrics pertaining to efficiency of the online advertising strategy employed by partner website, www.CountyImports.com. The keyword marketing overhaul campaign, launched in early February and announced March 4, 2010, has rapidly transformed www.CountyImports.com into the leading online on and off-road vehicle (ORV) dealer with regard to "natural" or "organic" web traffic, driving a record flow of free, highly-targeted web traffic to the website, and in turn facilitating a 37% decrease in overall online advertising costs compared to both 2008 and 2009, the two most lucrative years in the website's history.
-- San West and Buggy World awarded a custom Buggy World "Truggy" to Solana Beach resident Kim Thompson at the KSON 97.3 and 92.1 FM CountryFest on May 1, 2010 at the Lakeside Rodeo Grounds in Lakeside, Calif.
-- The Company announced that management is now aggressively searching for a new Orange County, CA retail location to focus primarily on further accelerating sales of San West's burgeoning motorized scooter offerings, as well as its traditional selection of high performance buggies. San West, Inc. management is now in the final stages of negotiations with a number of prime locations and intends to announce an agreement within the next 30 to 90 days.
First Quarter Financial Results The Company reported revenues for the first quarter of $493,615, an increase of 175.1% compared to revenue of $179,423 for the first quarter of 2009. This represents the highest sales for any first quarter in San West's history. Gross profit for the quarter was $135,492, or 27.4% gross profit margin, compared sequentially with gross profit margin of $111,641, or 22.3% for the fourth quarter of 2009 and compared to gross profit of $65,544 or 36.5% gross profit margin for the first quarter of 2009. Total operating expenses were $924,422, an increase compared to $215,547 for the three months ended March 31, 2009. The increase in expense is mainly due to the recognition of $642,175 in non-cash stock compensation primarily related to our new director, Jesse Gonzales, receiving five million shares of restricted common stock valued at $467,500 and other stock compensation expenses. Excluding stock compensation, SG&A was $282,267, or 31.0% higher than the first quarter of 2009. Net loss for the quarter was $(952,404), or ($0.01) per share, compared to a net loss of $160,154, or ($0.00) per share, for the first quarter last year.
"This was a strong start to what we believe will be a record 2010, including the highest sales volume in any first quarter in our company's history," commented Frank Drechsler, President and CEO of San West, Inc. "We exceeded our guidance for the first quarter of the year, a quarter that is typically seasonally lower than other periods, and our efforts to attract natural traffic to our online properties is continuing to result in higher conversion rates, more revenue per sales, and repeat customers. We continue to believe that as we execute our strategic plan, the advertising adjustments, combined with our search engine optimization and marketing strategies, will result in significant growth in our online revenues. In addition, our efforts to bolster our retail, brick-and-mortar presence in Southern California, should benefit our financial results as well." Outlook For the second quarter ended June 30, 2010, management expects revenue of at least $1 million, which would be the highest revenues in San West history.
Mr. Drechsler concluded, "San West and CountyImports.com management continue to be excited about the future. As we move into the seasonally stronger part of our fiscal year, coinciding with the start of the ORV season, we are well positioned as a recognized leader in the ORV industry. Our efforts to bolster our online properties and reduce our customer acquisition costs position us for success in the future, and we continue to believe 2010 will be a record year for San West." About San West, Inc.
San West is an emerging leader in the on and off-road vehicle (ORV) industry and operator of the industry leading ORV portal, www.CountyImports.com. The Company's web properties have emerged as the established home for all facets of the ORV industry, including off-road buggies, scooters, ATVs, parts and accessories. San West's retail store locations in Southern California specialize in the design, manufacture, sales and repairs off-road buggies. Additionally, the retail and online stores provide aftermarket performance products and accessories for off-road buggies and other ORVs. Buggy repair services are sold and fulfilled at the Santee, California retail location. For further information about San West, Inc. visit www.CountyImports.com, www.CountyImportParts.com, and www.SanWestInc.com.
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(OTCBB: PTCK - Pro-Tech Industries, Inc.)
LATEST NEWS!! Pro-Tech Industries Receives Additional $1.5 Million in Contracts
SACRAMENTO, Calif., May 17, 2010 -- Pro-Tech Industries (OTCBB: PTCK), a leader in design-build infrastructure services, has announced that it has been awarded 1.5 M in new contracts during the first quarter of 2010.
Sean McGuire, President of Pro-Tech Fire Protection Systems Corp. stated, "We have seen an increase in bid activity over the last couple of months and as a result our sales pipeline has increased. Every indication is that this trend will continue." The Company expects, but cannot guarantee, it will receive these revenues beginning in June 2010 and expects completion by the end of the year.
About Pro-Tech Industries, Inc.: Through its wholly owned subsidiaries, Pro-Tech Fire Protection Systems Corp. and Conesco, Inc., Pro-Tech Industries, Inc. provides design-build services in the following infrastructure segments: Fire Protection, Alarm and Detection, Telecommunications, Network Services, Flooring and Electrical Contracting. These services are provided to the Commercial/Industrial Sector, Fortune 1000 companies, and Federal, State, and Local government. For more information please visit http://www.pro-techind.com.
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(OTCBB: DGDM - Digital Development Partners, Inc.)
LATEST NEWS!!
Digital Development Partners to Start National Marketing Campaign
CITY OF INDUSTRY, Calif., May 17, -- Digital Development Partners, Inc., (OTCBB: DGDM) announced today that it will be initiating a national marketing campaign to introduce the investing public to DGDM along with the worldwide distribution and servicing rights agreement with EFT International which is wholly owned by EFT BioTech Holdings, Inc.'s.
Edward Carter, Director of Investor Relations stated, "Our goal with our marketing campaign is to broaden the shareholder base and increase value not only for our majority owned partner but also for all shareholders going forward." Carter went on to say, "Digital is relatively new in the public markets and we think it is vitally important that we let investors know what we are all about and where we have the potential to go, especially with a partner and majority owner like EFT. In our on-going marketing campaign we will utilize several strategies which will span over the next several months including but not limited to: direct internet, mailer and stockbroker contacts, newsletter profiles, radio interviews, investment conferences along with face to face fund manager and analyst meetings." This campaign coincides with a previously announced joint Digital and EFT program which has planned an aggressive EFT-Smart Phone marketing and training schedule throughout Asia for 2010. Digital also plans to introduce new products and services to its new and existing EFT-Smart Phone customers.
About Digital Digital distributes and services the EFT Mobile PDA Smart Phone to EFT's base of affiliated members throughout Asia. The unique aspect of the EFT-Smart Phone is that EFT affiliates will be able to speak with all other affiliates at no charge while in a Wi-Fi location utilizing VoIP technology. Another unique aspect is the additional Apps that will allow the EFT affiliate base to access all their back office sites including their Funds Management Account where the affiliate will be able to deposit funds to make purchases, withdraw and transfer money to another EFT account or to another EFT affiliate at no cost for the internal transfer. The EFT-Smart Phone will have educational applications and PowerPoint presentations for recruiting and training new affiliate members anywhere in the world.
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(OTCBB: STTN - Smart-Tek Solutions, Inc.)
LATEST NEWS!!
Smart-Tek Solutions, Inc. Increases Revenues 240% vs. 2009
NEWPORT BEACH, Calif., May 17, 2010 -- Led by its Smart-Tek Automated Services subsidiary, Smart-Tek Solutions, Inc. (OTC Bulletin Board: STTN) reported a revenue increase of 240.2% in its most recently filed Form 10-Q for the nine-month ended March 31, 2010. During that same period Smart-Tek's gross profits were $2,610,359--more than quadruple the $614,348 gross profits during the comparative period in 2009. Smart-Tek Automated Services, Inc., which generated $568,959 net income in for the Quarter ending March 31, 2010 alone, accounted for 51.2% of the company's gross profit and 53.6% of its total revenues during the most recent three quarters.
Smart-Tek Automated Services is capitalizing on rising demand in the Professional Employer Organization (PEO) business, which it officially entered in August 2009. PEOs enable companies to outsource back-office operations such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative tasks. The company also offers a variety of staff leasing, temporary staffing and co-employment solutions.
The past few months have included numerous significant achievements in the company's growth strategy. In April, the Company announced that it had completed business licensing and registration requirement in 33 new states, with the goal of doing so throughout the continental U.S. to handle multistate clients. (The Company already has the ability to sell workers' compensation insurance in the Lower 48.) Other recent positive news included signing an agreement to provide PEO services to a national staffing firm, representing approximately $30 million in annual gross billings, as well as announcement of plans to capitalize on the booming China market with dedicated operations located in Hong Kong. The new office exposes the company to the influx of multinationals with a presence in Asia as well as the 800 million Chinese work force.
"Our increase in sales activity is due, in part, to the demand for better human resource (HR) outsourcing solutions from small to medium sized business owners," said Brian Bonar, Smart-Tek Solutions CEO. "I expect continued growth in our business segment and believe we are poised to establish ourselves as an industry leader in the human resource outsourcing industry in 2010." The reported financial results exceeded the Company's forecasts released for the comparative reporting period. "While I am optimistic about the future, we are continuing to evaluate our growth potential in the near and long-term future and expect to release additional forecasts this summer," Bonar said.
About Smart-Tek Solutions, Inc: Smart-Tek Solutions, Inc. generates revenue from the installation of security systems in construction projects. Its board is currently in negotiations to sell its original business and focus entirely on the PEO business of its wholly owned Smart-Tek Automated subsidiary, in order to achieve the best value for its shareholders. The original business generated $3.3 million and $3.8 million of revenue in 2009 and 2008 respectively, and $0 and ($3.1) loss of earnings in 2009 and 2008 respectively.
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(OTCBB: BGNN - B Green Innovations, Inc.)
LATEST NEWS!!
B Green Innovations Reports Record Net Income of $1,377,137 for First Quarter 2010
In the Same Time Period Last Year, the Company Reported a Loss of $825,857, a Net Positive Change of $2,202,994 MATAWAN, NJ, May 17, 2010 -- B Green Innovations, Inc. (OTCBB: BGNN) reported on a Form 10-Q filing with the Securities and Exchange Commission, net income of $1,377,137 for the three months ended March 31, 2010. In the same time period last year, the Company reported a loss of $825,857, a net positive change of $2,202,994. Other Income was $1,499,926 for the three months ended March 31, 2010 as compared to an expense of $690,543 for the three months ended March 31, 2009.
Total revenues increased 182% for the three months ended March 31, 2010. Gross profit increased 292% for the three months ended March 31, 2010. Total operating expenses decreased 1% for the three months ended March 31, 2010.
Jerry Mahoney, Founder of B Green, commented, "We are proud to report these results for the three months ended March 31, 2010. The company is doing an excellent job of delivering great results. We look forward to continuing to deliver superior results throughout the rest of the year. Shareholders should read the complete details for the quarter ended March 31, 2010 in the Company's recently filed Form 10-Q with the SEC." About B Green Innovations B Green Innovations, Inc. ("B Green"), "Go Green" mission from its inception, is to create a "Green" company for the development of solutions to eliminate waste from the world's environment. B Green offers consumers a realistic and necessary solution to the problem of waste around the world. We believe that to truly have an impact on the planet, one must be committed to the environment and seek out environmentally friendly products.
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(NASDAQ: DEER - Deer Consumer Products, Inc.)
LATEST NEWS!!
Deer Consumer Products, Inc. Announces $20 Million Stock Buyback, Raises 2010 Earnings Guidance, Provides Business Updates
Deer Reports Absolutely No Signs of Consumer Buying Slowdown in the Chinese Domestic Markets for Deer Products
NEW YORK, May 17, 2010 -- Deer Consumer Products, Inc. (Nasdaq: DEER), one of the world's largest vertically integrated designers and ODM/OEM manufacturers of home and kitchen electronics marketing to both global and China domestic consumers, announced today the following updates: $20 Million Share Buyback: Deer has initiated a stock buyback program, which allows the Company to purchase from time to time in open market transactions, up to $20 million worth of Deer common stock. As of Q1/2010, Deer had more than $75 million in cash (or $2.31 per share in cash) without any long term debts or bank credit needs.
"In light of Deer's current low valuation for reasons totally irrelevant to our fundamentals, and with our common stock trading at 3 times cash and an estimated mid-single-digit 2010 P/E (price to earnings) multiples, Deer feels strongly about taking proactive actions in enhancing shareholder value. Deer has sufficient cash on hand to fund both the share buyback program and grow our business," commented Mr. Bill He, Chairman & CEO of Deer.
Deer's management currently owns approximately 50% of the Company's entire shares outstanding. All of these management-controlled shares are locked up for 3 years and are restricted from selling to the public market prior to January 2013. Deer management believes its interests are totally aligned with those of the Company's public shareholders.
Business Updates: "We see absolutely no signs of a consumer buying slowdown in the high margin Chinese markets for Deer's products. Our sales tend to grow along with China's consumer disposal income growth which has been outstanding. Our products are not highly expensive items, such as real estate or automobile investments. Therefore, wealthier Chinese consumers can easily make purchase decisions for Deer products that make their busy lifestyles far more convenient. Deer has a growing presence at two of China's largest retailers, which collectively represent 8% of China's total retail electronics sales. Deer is also progressing very well in deepening our sales channels and marketing to the remaining 92% of China's broader retail space. We are excited and highly positive about our markets and outlook," said Mr. Bill He.
Deer Raises 2010 Revenues and Earnings Guidance: "Deer is currently experiencing strong domestic and global sales. Deer's robust existing and new order flow pipelines will likely result in higher than anticipated earnings growth. We are comfortable with raising Deer's 2010 earnings guidance to approximately $26 million in net income on revenues of approximately $160 million, with significant growth anticipated in our seasonally strong second half of 2010. We see little execution risk in achieving and potentially exceeding these new earnings growth targets," concluded Mr. Bill He.
About Deer Consumer Products, Inc.
Deer Consumer Products, Inc. (Nasdaq: DEER) is a NASDAQ Global Select Market listed U.S. registered public company headquartered in China. Managed by the Company's founders, Deer has a 15-year operating business as well as a strong balance sheet. Supported by more than 103 patents, trademarks, copyrights and approximately 2,000 company-trained seasonal and full time staff, Deer is a leading designer, ODM/OEM manufacturer and global marketer of quality small home and kitchen electric appliances. Deer's product lines include blenders, juicers, soy milk makers and a large variety of other home appliances designed to make today's lifestyles simpler and healthier. With more than 100 global clients/branded products such as Black & Decker, Ariete, Disney, Toastmaster, Magic Bullet, Back to Basics and Wal-Mart, and rapidly expanding China domestic market footprint, Deer has enjoyed rapid sales and earnings growth in recent years.
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