Kid Castle Educational (PK) (USOTC:KDCE)
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Kid Castle Educational Corporation Presents Third Quarter
Results
TAIPEI, Taiwan, Dec. 16 /Xinhua-PRNewswire-FirstCall/ -- Kid Castle Educational
Corporation, (OTCBB Symbol: KDCE). For its first three quarters ending
September 30th, 2004, operating income was 7,865,876 USD, up 11.4% from the
same period of last year. Kid Castle continues to aggressively invest in its
China expansion with increase in personnel, market research and development,
and employee training. Kid Castle's strategy is to increase its Franchise
Schools to establish its brand name in the market. Currently, there are over
three thousand schools that are using Kid Castle English learning materials all
over China and Taiwan. Along with its expansion in China, the Company has also
increased its research and development in Taiwan. Kid Castle, in cooperation
with outside source, has developed the innovative 'Digital Learning and
Administration System' that has awarded an honor of achievement from the
Industrial Development Bureau of the Ministry of Economic Affairs. Even with
its heavy investments into China as well as effort spent in its research and
development, Kid Castle has narrowed its loss by 39.5% to 785,171 USD from
1,296,886 USD over the same period last year.
As KDCE's current market capital is inadequate to meet AMEX's listing
requirements, the company will hence focus its effort in securing working
capital. However, the company's ambition to be listed on AMEX still remains
unchanged.
This press release contains forward-looking information within the meaning of
Section 29A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performances and
underlying assumption and other statements, which are other than statements of
historical facts. Certain statements contained herein are forward-looking
statements and, accordingly, involve risks and uncertainties, which could cause
actual results, or outcomes to differ materially from those expressed in the
forward-looking statements. The Company's expectations, beliefs and
projections are expressed in good faith and are believed by the Company to have
a reasonable basis, including without limitations, management's examination of
historical operating trends, data contained in the Company's records and other
data available from third parties, but there can be no assurance that
management's expectations, beliefs or projections will result, or be achieved,
or accomplished.
Contact:
Yu-En Chiu
CFO of Kid Castle Educational Corporation
Tel: +886-2-2218-5996
DATASOURCE: Kid Castle Educational Corporation
CONTACT: Yu-En Chiu of Kid Castle, +886-2-2218-5996