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Share Name | Share Symbol | Market | Type |
---|---|---|---|
SED International Holdings Inc (CE) | USOTC:SEDN | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
Company Releases FY 2014 Annual Report
Company Provides Interim Financial Update for Six Months Ended 12/31/14
Company Provides Shareholder Update
SED International Holdings, Inc. (OTC: SEDN), a multinational distributor of IT components and services, today is making the following announcements:
NEW WEBSITE
SED is pleased to release its new and updated website that reflects SED’s refined focus as an IT distributor and solutions services provider. The Company’s new corporate website is www.sedintl.com
FY 2014 ANNUAL REPORT RELEASE
SED has released its annual report for the Fiscal Year ended June 30, 2014. The annual report is now available on the company’s website, www.sedintl.com under the Company’s Investor Relations page.
CHAIRMAN’S UPDATE TO SHAREHOLDERS
SED’s latest update from its Chairman and CEO, Sham Gad, is also available by visiting the Company’s Investor Relations page or clicking here.
INTERIM FINANCIAL UPDATE FOR SIX MONTHS ENDING DECEMBER 31, 2014
SED is also providing the additional financial update:
In light of the Company’s recent filing of its 2014 Annual Report for the Fiscal Year ended June 30, 2014, SED has determined that in 2015, the Company will convert to a calendar fiscal year. As a result, the Company intends to issue an interim financial statement in the coming months for the July 1, 2014 to December 31, 2014 six month period.
In the meantime, the Company is in a position to provide the following preliminary financial update regarding the July to December 2014 six month period:
For the six month period ended December 31, 2014, consolidated revenues were approximately $69.5 million. Gross margin was $6.0 million, or 8.6% of sales, and the company incurred a net loss of $0.9 million. As of December 31, 2014, shareholders’ equity was a deficit of $6.8 million, compared with a deficit of $5.9 million at June 30, 2014.
The Company continues to proactively work to restructure its legacy liabilities, which approximated $17.5 million as of December 31, 2014 of which over $12 million have been settled or subject to settlement agreements at discounts to face value.
SED anticipates that it will resume filing of quarterly financial reports in 2015, with the quarterly results for period ending March 31, 2015 in June. The Company expects that subsequent quarterly filings will be made in a timely fashion, but can make no assurances at this time.
SED International Holdings, Inc.Rita McDaniel, 678-878-2626ir@sedintl.com
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