Amiworld Reports Record Financial Performance for 2008 Second Quarter
Amiworld, Inc. (OTCBB: AMWO), an international energy company engaged in the production and distribution of diversified fuel products and services with a focus on emerging global economies, today reported record financial results for the second quarter 2008 of $3.1 million, a 20% increase over its first quarter and 75% of total revenues for fiscal 2007. The Company reported net income for the second quarter 2008 of $108,000 compared to a loss of $133,000 during the same period of 2007.
Six months fiscal 2008 revenues of $5.6 million represent a 300% increase of the $1.8 million reported for all of 2007.
The record earnings are a result of an aggressive business plan that has seen Amiworld consistently increase quarterly revenues and earnings. As the Company continues with its expansion plans to triple its production of petroleum diesel and biodiesel by Q4 2008 and 2009, respectively, it expects to show revenue and earnings growth for the remainder of 2008 and beyond.
Highlights of Second Quarter Results:
— Revenues of $3.1 million versus $2.5 million for Q1 2008
— First half $5.6 million more than triple entire fiscal 2007 revenues
— Net income of $108,000 compared to a loss of $133,000 for same period in 2007
“While we are extremely pleased with the record growth announced today and our progress to date, we believe that the balance of 2008 will see an exponential increase in both revenues and earnings,” said Mamoru Saito, Chief Executive Officer of Amiworld. “With our plans to triple our production and grow our international oil trading and shipping business, the Company is poised to deliver results that we believe are extraordinary for such a young company.”
The Company recently released guidance that projects significant growth during Q3 and Q4 of 2008, with estimated revenues of approximately $13 million and $24 million, respectively. If these projections are reached, of which there can be no assurance, the Company forecasts Q3 and Q4 estimated earnings of $1 million and $2.3 million, which, based on the current issued and outstanding shares of 23.1 million, are estimated to result in $0.04 EPS for Q3 and EPS of $0.10 for Q4.
Amiworld senior management will discuss the Q2 financial results in further detail and address investor questions in a conference call scheduled for Monday, August 18, at 12 noon Eastern. To participate in the call, US-based callers may dial toll free, 877-407-8035. International callers may dial 201-689-8035. Interested investors can listen to the presentation via the web at http://www.trilogy-capital.com/tcp/amwo/conference.html.
Since inception, Amiworld has a stated goal of delivering outstanding shareholder value by increasing revenues and earnings through company driven initiatives and strategic acquisitions. The Company’s global management team is continually searching for production and distribution revenue opportunities within both the traditional and alternative energy sectors.
The Company has also applied for a listing of its Common Stock on the NASDAQ Capital Markets.
About Amiworld, Inc.
Amiworld, Inc. is a high growth New York-based international energy company engaged in the production and distribution of alternative and traditional energy products and services. With state-of-the-art refining and distribution facilities in Colombia, South America, the Company is capitalizing on the worldwide energy demand with diversified products and services including biodiesel, petroleum diesel, international oil trading and the shipping of oil and fuel products with a principal focus on economies in South America and Asia. With an overriding commitment of building shareholder value, Amiworld continuously evaluates opportunities to drive revenues and earnings growth organically and through strategic acquisitions.
Amiworld owns and operates the only government certified biodiesel plant in Colombia. The Company is well positioned to capitalize on its unique government status as a result of the Colombian government’s aggressive biofuels initiatives mandating a 5% biodiesel mix by 2008 and 10% by 2009. With global biofuels demand projected to grow 20% annually to 92 million tons by 2011, Amiworld intends to significantly increase its market penetration in South America, Asia and the US.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 — With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of AMWO could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company’s operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as “may,”"will,”"should,”"expect,”"plan,”"anticipate,”"believe,”"estimate,”"predict,”"potential” or “continue,” the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.