--Continues Trend of Double-Digit Growth--
HONG KONG, Oct. 6 /Xinhua-PRNewswire-FirstCall/ -- ACL Semiconductors, Inc. (OTC Bulletin Board: ACLO), one of Asia's largest distributors of memory chip products, announced today preliminary, unaudited revenues of approximately $50 million for the quarter ending September 30, 2008, representing a 14% increase over $43.9 million reported in the third quarter of 2007. Sequentially, revenues are expected to grow 11% compared to $45.2 million reported in the second quarter ended June 30, 2008.
CEO of ACL Semiconductors, Inc., Alan Yang, said, "Over the past two years, our revenues have consistently posted double-digit growth on a sequential basis. This growth can be attributed to a robust consumer electronics industry and the benefit of our long-term supplier relationship with Samsung. Southern China continues to flourish as global consumer electronics manufacturers flock to the region, supported by large-scale investment from foreigners."
"In addition, our staffs of highly-trained Field Application Engineers (FAE) have enabled us to grow faster in a shorter period of time when compared to our peers. Our FAEs provide unparalleled customer service and client intelligence to build customer loyalty. They work to ensure the design of the most cost effective memory solution platforms for each customer. We call it 'a Total Solutions Approach,' " added Mr. Yang.
Mr. Yang concluded, "We will continue to develop our engineering capabilities and build our customer and supplier relationships to ensure we remain Samsung's dominant position as the world's leading memory component supplier in Southern China and Hong Kong."
Full details on third quarter 2008 financial results will be filed by the Company on Form 10-QSB at http://www.sec.gov during mid-November.
About the ACL Semiconductors Inc.
ACL Semiconductors Inc. ("ACL") is a principal distributor of memory products including DRAM and Flash for Samsung Electronics Co. Ltd. in Hong Kong and Southern China since 1991. ACL is now one of the largest and most successful distributors for memory products in Asia. The company has achieved annual sales in excess of one hundred million dollars since 2004. ACL has been in business in Asia for the past 18 years and, during that time, has evolved as an integral part of southern China's development while serving the OEM and ODM manufacturing base for GPS, mobile phones, UMPC, ePCs, Wi-Fi products, laptop computers, servers, routers, workstations, desktop computers, PDAs, digital cameras, MP3 players, USB drives and other consumer electronics worldwide. The company has more than 200 customers in Hong Kong and southern China. ACL trades on the OTCBB under the symbol, ACLO.
Safe Harbor Act Notice
This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings. Third-party statements contained herein and information contained on any third-party Web site are not endorsed by or adopted by ACL Semiconductors, nor have ACL Semiconductors or its affiliates verified their accuracy.
Contact:
ACL Semiconductors Inc.
Kenneth Chan, CFO,
Tel: +852-2246-9090
Email: kenneth@atlantic.com.hk
http://www.acl-semicon.com/
Investor Relations:
OTC Financial Network
Rick McCaffrey
Tel: +1-781-444-6100 x625
Email: rick@otcfn.com
http://www.otcfn.com/aclo
