omniture

Asian Financial Announces Preliminary Fiscal 2007 Results

2007-09-06 17:02 618


BEIJING, Sept. 6 /Xinhua-PRNewswire/ -- Asian Financial, Inc. ("Asian Financial", "Company"), a leading provider of offset printing equipment and solutions in China through its wholly-owned operating subsidiary, Duoyuan Digital Printing Technology Industry (China) Co., Ltd. ("Duoyuan"), today released preliminary financial results for the fiscal year 2007 ended on June 30, 2007.

Based on the preliminary results, the Company expects to report revenues of approximately $68.5 million and gross profit of approximately $31 million for the fiscal year of 2007. Net income for fiscal 2007 is expected to be approximately $15.3 million. These results have not been completely reviewed by the Company’s auditors and are therefore subject to changes.

About Asian Financial, Inc.

Asian Financial, Inc., through its wholly-owned subsidiaries, is engaged in the business of manufacturing and marketing commercial offset printers and related solutions in the People’s Republic of China ("PRC"). The Company combines technical innovation with PRC cost advantages to offer a broad range of offset printing equipment at price discount as compared to Western models. Asian Financial, Inc. has manufacturing and R&D facilities in Langfang in Hebei Province and Shaoyang in Hunan Province and has a distribution and service network in approximately 100 cities in China. Headquartered in Beijing, the Company is one of the largest non-government owned major offset printing equipment and printing solutions providers in China.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based upon management’s beliefs, assumptions and expectations of the company’s future operations and economic performance, taking into account the information currently available. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. Such risks include, but are not limited to, competition in the offset printing market, declines in demand for the company’s products, rising raw materials costs, changes to management or key personnel, risks associated with conducting business in China, the company’s ability to expand into markets outside of China and other risks detailed in the company’s filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For more information, please contact:

Asian Financial, Inc.

Gene Michael Bennett

CFO

Tel: +86-10-6021-2222

Email: GMBennett@Duoyuan.com

CCG Elite

Crocker Coulson

President

Tel: +1-310-231-8600

Email: crocker.coulson@ccgir.com

Elaine Ketchmere

VP Financial Writing

Tel: +1-310-231-8600

Email: elaine.ketchmere@ccgir.com

Source: Asian Financial, Inc.
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