Business Editors
LOS ANGELES--(BUSINESS WIRE)--May 17, 2000
Net Earnings Up By Nearly 10 Percent to $4.0 Million;
Total Assets Grow By 7 Percent to $7.5 Million
Advanced Technology Holdings Limited, a wholly owned subsidiary of Score One Inc. (OTCBB:SCRO),
For the year ended Dec. 31, 1999, Advanced Technology reported audited net sales of $21.6 million, nearly $100,000 above its pro forma estimates. Net earnings of $4.0 million or 20 cents per share, however, were nearly 10 percent higher than the pro forma projections of $3.5 million or 18 cents per share. In addition, total assets grew to $7.5 million, or 7 percent higher than the pro forma projections of $7.1 million.
According to C.W. (Roy) Ho, chairman and president of Score One, "The audited numbers demonstrate two key characteristics of Advanced Technology Holdings of importance to investors. The first is that the company takes a conservative approach to making performance projections. The second is that the company and its management team are performing very well. We are pleased with the audited report and hope to meet or exceed expectations in the future as well."
About Advanced Technology Holdings Limited
Advanced Technology International is a leading Chinese designer and manufacturer of application specific printed circuit boards (PCBs) including flexible, double-sided conductive carbon and polyester based PCBs for use in the billion dollar consumer electronics market, as well as in telecommunications devices such as handheld wireless organizers, scientific calculators, digital cameras, and mobile phones. The company primarily sells its family of PCB products, which is certified at the ISO9002 level, to OEM manufacturers of brand-name consumer electronics such as Sharp, Canon, Citizen and Samsung, located in Hong Kong and Taiwan.
Forward-looking statements in this release are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.