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DLGI Digital Landscape Group Inc.

8.335
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Digital Landscape Group Inc. LSE:DLGI London Ordinary Share VGG2761A1057 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 8.335 7.95 8.72 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

DataLogic Releases CEO Letter to Shareholders Discussing Fiscal 2003 Results and Forward Guidance

09/04/2004 7:37pm

PR Newswire (US)


Digital Landscape (LSE:DLGI)
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DataLogic Releases CEO Letter to Shareholders Discussing Fiscal 2003 Results and Forward Guidance IRVINE, Calif., April. 9 /PRNewswire-FirstCall/ -- DataLogic International, Inc. (OTC Bulletin Board: DLGI; Berlin, Frankfurt StockExchange: 779612), today releases a letter to shareholders discussing fiscal 2003 results and forward guidance. To Our Valued Shareholders, I am proud to announce that DataLogic has achieved record revenue in 2003 of $10.7 million as compared to $2.1million from the prior year, a 412% year-to-year growth. 2003 was a challenging year but very productive for DataLogic. We have learned from our past mistakes and made substantial progress against the major milestones we set at the beginning of the year and achieved results that are pivotal to DataLogic's future success. Although the net earnings results were a slight disappointment for DataLogic International, the new year brings confidence that the factors that brought about the disappointment are well behind us. The main obstacles in Q4 2003 were the adjustments from the comprehensive year-end audit procedures in preparing DataLogic for a major exchange listing along with uncollected debts for $113,000 and deferred revenues booking of $125,000. As a result of these adjustments, defaulted accounts coupled with R&D and ongoing M&A consulting expenses, we did not realized the full potential earning that we're expected for the quarter. The adjustments and reclassifications to the previous quarter results were necessary to form an organized financial based from which we will expand into our new VoIP and M2M businesses. Although we had to reclassify $113,000 of income from Kiboga System to doubtful debt, we expect to ultimately collect this amount through legal actions. Our deferred revenues of $125,000 will be booked in the first two quarters of 2004. We expect to record over $3.5 million in revenues in the first quarter. This is in line with our sales projection of over $20 million in annual revenue for fiscal 2004. Since the start of 2004, sales for our VoIP products and licenses have been on the rise along with strong demands for our GPS products. We are currently working with over ten major companies in Asia, Middle East, North America, South America and Europe to either test or deploy our VoIP solutions. The majority of our current business is deriving from Asia such as China, Vietnam and the Philippines. We expect the market in Asia to remain strong. We also have plans to expand into the retail channels in North America this year as well as stronger penetration into Europe, Middle East and South America. We're currently marketing our GSM and CDMA vehicle tracking devices in North America, South America and Europe. The majority of our sales have been to distributors and application developers but we anticipate to consummate some of the transactions we have in the current pipeline with various large clients shortly. We're also conducting tests of the products in China and intend to increase our marketing effort in Asia beginning this quarter. We are in the process of organizing our resources and strengthening our infrastructure to support the anticipated growth through the sales of our VoIP and M2M products. In conjunction, we also endeavor to eliminate inefficiencies in our R&D, operations and collection process. We expect this effort to result in an improved bottom line. As you recall from my previous shareholders letter, DataLogic is undergoing a major capital restructuring which will result in new funding and debt refinancing for the company to significantly reduce the costs of borrowed capital, strengthen our balance sheet and at the same time leveraging our capital resources via merger/acquisition activities. We believe that our actions, both strategic and tactical, have put DataLogic in a much better position today than it has been over the last few years. These actions, coupled with an improving economic landscape, give us confidence going into 2004 that we are well positioned to realize our mission of building world-class technology companies and increasing shareholders value. We appreciate all your support and looking forward to a successful and mutually rewarding 2004. Sincerely, Derek Nguyen Chief Executive Officer About DataLogic International Inc. DataLogic International, Inc. is a technology and professional service company dedicated to providing a wide range of Information Technology and Communications related products and services. For more information about DataLogic, go to http://www.dlgi.com/ or contact Investor Relations at or (888) 530-8228. This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, asamended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies. DATASOURCE: DataLogic International, Inc. CONTACT: Investor Relations of DataLogic International Inc., +1-888-530-8228, Web site: http://www.dlgi.com/

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