Market Watch: Dragon Capital Group - November 20, 2009
November 20 2009 - 8:34AM
Marketwired
Stock Market Alerts' performance stock list includes: Dragon
Capital Group Corp (PINKSHEETS: DRGV), DIRECTV (NYSE: DTV), Qwest
Communications (NYSE: Q) and Microsoft Corp (NASDAQ: MSFT).
This morning, Dragon Capital Group (PINKSHEETS: DRGV) has
announced that its financial results for the third quarter ended
September 30, 2009, which included record revenues of $41.1 Million
for first nine months of 2009, an increase of 21.87% compared to
$33.7 Million for first nine months of 2008.
Revenue for the third quarter ended September 30, 2009 was $14.2
million, a 24.56% increase over the $11.4 million recorded in the
third quarter of 2008. Cost of sales for the third quarter of 2009
were $13.3 million compared to $10.6 million in the third quarter
of 2008. Net income from continuing operations for the third
quarter of 2009 was $356,187, slight decrease from the $383,126
recorded in the third quarter of 2008. Net income in the third
quarter of 2009 was approximately $291,000, slight decrease from
approximately $310,000 for the third quarter of 2008. The decrease
in net income was largely attributable to the Company's efforts to
increase sales and market share through an aggressive pricing
strategy in a very difficult market environment.
Revenue for the first nine months of 2009 reached record $41.1
million, a 20% increase from the $33.7 million recorded in the
first nine months of 2008. For the first nine months of 2009, net
income from continuing operations was $799,553 down from $1.11
million in the first nine months of 2008 mainly a result of reduced
margins of its main technological product sales.
Mr. Lawrence Wang, CEO of Dragon Capital Group, stated, "As we
are emerging away from a very challenging sales environment, Dragon
has made a strong effort to increase sales volume and market share
through aggressive pricing. Our dedication to this strategy has
enabled Dragon to post record sales while remaining profitable for
the quarter and the first nine months of the year. We are confident
that these gains in market share will result in a significant
expansion in our top and bottom line performance as the economy
continues to improve in the coming quarters and margins return to
normalized levels. We are confident that China's high-tech industry
will provide a significant growth opportunity for Dragon as we
continue to seek to grow internally and through opportunistic
acquisition of complimentary high tech operations for the benefit
of our shareholders."
The stock closed yesterday at a Penny a share.
For an in-depth profile of Dragon Capital Group, visit
http://www.wallstreetenews.com/view-company-profiles.php?profile=DRGV_072109.
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DIRECTV (NYSE: DTV) up 1.4% on 114 million shares traded.
DIRECTV is one of the world's leading providers of digital
television entertainment services.
Qwest Communications (NYSE: Q) down 1.3% on 10.8 million shares
traded.
Qwest's is an industry-leading national fiber-optic network and
world-class customer service to meet their communications and
entertainment needs.
Microsoft Corp (NASDAQ: MSFT) down 1% on 51.9 million shares
traded.
Microsoft is the worldwide leader in software, services and
solutions that help people and businesses realize their full
potential.
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of this release, and hereafter referred to as "the company." The
company also maintains a contractual, working relationship with
Wall Street Capital Funding LLC. and its Wall Street News Alert
brand. For current services performed for Dragon Capital Group Corp
(PINKSHEETS: DRGV), China Direct Industries, Inc. ("China Direct
Industries"), Sunwin International Neutraceuticals, Inc., China
America Holdings and China Armco Metals, Inc., the company has been
compensated a total of Three Hundred Thousand Dollars (Two Hundred
and Fifty Thousand dollars for current services and Fifty Thousand
dollars for previous services) by China Direct Investments Inc., a
Florida corporation, and a wholly owned subsidiary of China Direct.
The company does not hold any shares of the stock. Because the
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inherent conflict of interest in the company statements and
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