ACL Semiconductors Chairman's Letter to Shareholders:
21 September 2009 - 10:30PM
PR Newswire (US)
Increased Communications, Increasing Revenues, Increasing Profits
HONG KONG, Sept. 21 /PRNewswire-FirstCall/ -- ACL Semiconductors,
Inc. (OTC:ACLO) (BULLETIN BOARD: ACLO) , one of Asia's largest
distributors of memory chip products, today announced that its
Chairman and CEO, Alan Yang, has written a Chairman's letter to all
shareholders about the Company's recent accomplishments and future
objectives. The letter has been posted on the Company's web site at
http://www.acl-semicon.com/. It is reproduced here in full: Dear
Fellow Shareholder: I thank you for your loyalty and would like to
take this opportunity to update each of you as to the progress
we've made in 2009 and outline plans for the future. This letter is
in furtherance of our policy to keep our shareholders fully and
timely informed as to our progress and material developments and
make such information available to the investment community through
our investor relations program. To date, unlike others in our
industry that have stumbled and failed, we are surviving a
worldwide financial crises and emerging as a more dominant firm. In
the beginning of 2009 we set goals to increase sales and margins,
while reducing debt and achieving better financial results. I am
pleased with our recent publicly released financial reports and
want you to know that the Company is working very hard to sustain
our progress. We have targeted new customers and believe we can
increase market share by adding additional customers that desire a
reliable, sophisticated and value-added distributor. This, we
believe, will aid in our continued goal of posting higher revenue
and sustaining higher margins. For those not familiar with ACL
Semiconductors, we are a principal distributor of memory chip
products sold under the Samsung brand name in Hong Kong and the
southern region of the People's Republic of China. Products include
synchronous dynamic random access memory, graphic random access
memory, and flash products. These components are used in IT
products such as computer peripherals, digital cameras, Wi-Fi
products, modems, DVD players, mobile phones, and digital TVs,
among other products. In our industry, we are one of a few
companies with more than 20 years of operating experience. ACL
Semiconductors has 28.3 million shares outstanding. The public
float is 5.5 million shares. It was recently announced second
quarter sales up 64 percent to $74 million because of strong demand
for Samsung memory products. We believe the worldwide recession is
ending in the locations of the world that we service. Net income in
the second quarter topped $900,000, or $0.03 per diluted share.
Going forward, we anticipate even better results for the rest of
this year and into 2010. We are pleased that our loyal shareholders
have remained with us and we are working every day to reward them.
And we want to attract new investors by telling our story, telling
it well, and then awakening the next day to tell it again. We are
very proud of our achievements. Safe Harbor: This news release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. 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. CONTACT: Paul Knopick E & E
Communications 949/707-5365 DATASOURCE: ACL Semiconductors, Inc.
CONTACT: Paul Knopick of E & E Communications, +1-949-707-5365,
, for ACL Semiconductors, Inc. Web Site:
http://www.acl-semicon.com/
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