Subaye Announces Forward Guidance
Posted on: Monday, 26 October 2009, 09:27 CDT
GUANGZHOU CITY, China, Oct. 26 /PRNewswire-Asia/ -- Subaye, Inc.
(OTC Bulletin Board: SBAY)(the "Company"), announced forward guidance for the
fiscal years ending September 30, 2010 and 2011.
James Crane, Chief Financial Officer, stated "Subaye has recently
completed its internal forecasting for the fiscal years ending September 30,
2010 and 2011. The Company is projecting revenues for 2010 and 2011 of $71
million and $103 million, respectively. Net income is projected for 2010 and
2011 of $16 million and $28 million, respectively. Projected earnings per
share for 2010 and 2011 are $4.16 and $6.15. Projected EBITDA (earnings before
interest, taxes, depreciation and amortization) is $31 million and $51 million
for 2010 and 2011, respectively. We are forecasting significant growth within
our online membership services and application services business segments and
moderate growth within the other business segments. It is important to note
that the forward guidance includes numerous general assumptions and also
certain significant assumptions including the completion of the proposed
acquisition of the minority-owned portion of our subsidiary, Subaye.com, Inc."
About Subaye, Inc.
Subaye, Inc. ("Subaye" or the "Company") is a leading provider of video
sharing services in the People's Republic of China. Subaye's platform includes
production, upload, storage, sharing and publishing onto more than 33 main
video sharing portal websites. Subaye also offers SaaS business solutions and
is in the process of developing what Subaye believes is the first online
shopping mall in the world that will utilize 3D imaging throughout the online
interface. Subaye platform consists of its websites, http://www.subaye.com,
http://www.x381.com, http://www.goongreen.org, http://www.goongood.com and the
Subaye Alliance network, which is its network of third-party websites. The
Company's http://www.subaye.com and http://www.x381.com websites are
generating revenue, while its other web-based businesses are under development
or offering free services to potential customers at this time. Subaye's
services are designed to enable internet users to find and view videos online.
As of September 30, 2009, the Company had approximately 43,000 members and the
Company's video database consisted of over 82,000 profiles of corporate video
showcases. These showcases offer a cost-effective venue for small to mid-size
enterprises ("SMEs") to advertise their products and services and establish
and enhance their corporate brands. The Company provides its users with easy
access to an index of over 3.0 million video clips, images and web pages.
For further information on Subaye, Inc., please visit
http://www.subaye.com/english. You may also register to receive Subaye's
future press releases or request to be added to the Company's distribution
list by contacting James Crane by email at jimc@mystaru.com . The distribution
list should be active by November 1, 2009.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on current expectations,
estimates and projections about Subaye, Inc.'s industry, management's beliefs
and certain assumptions made by management. Readers are cautioned that any
such forward-looking statements are not guarantees of future performance and
are subject to certain risks, uncertainties and assumptions that are difficult
to predict. Because such statements involve risks and uncertainties, the
actual results and performance of the Company may differ materially from the
results expressed or implied by such forward-looking statements. Given these
uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements. Subaye, Inc.'s operations are conducted in the
People's Republic of China ("PRC") and, accordingly, are subject to special
considerations and significant risks not typically associated with companies
in North America. These include risks associated with, among others, the
political, economic and legal environment and foreign currency exchange. The
Company's results may be adversely affected by changes in the political and
social conditions in the PRC and by changes in governmental policies with
respect to laws and regulations, anti-inflationary measures, currency
conversion, remittances abroad, and rates and methods of taxation. Other
potential risks and uncertainties include but are not limited to the ability
to procure, properly price, retain and successfully complete projects, and
changes in products and competition. Unless otherwise required by law, the
Company also disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions to the
forward-looking statements made here. Readers should review carefully reports
or documents the Company files periodically with the Securities and Exchange
Commission.
For more information, please contact:
At the Company:
James Crane, Chief Financial Officer
P.R.C. Cell: +86-186-0125-0891
U.S. Office: +1-617-699-6325
SOURCE Subaye, Inc.
Source: PR Newswire
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