ORLANDO, Fla., July 24, 2007 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., announced that it has issued a first quarter 2007 research update on Mizati (Pink Sheets:MZTI).
Tony Telan, MBA, RedChip Research Analyst, wrote in the report:
"Mizati reported a strong first quarter with revenue increasing 32% from $1.3 million in 1Q06 to $1.7 million in 1Q07. Operating income for 1Q07 was $354,183, an increase of 48% from $239,603 for the 1Q06. The Company continues to execute on its growth strategy by increasing the number of distributors and dealers across the United States. At the end of May, MZTI had 452 distributors and dealers in their network, and is on track to reach their goal of 600 distributors by the end of FY07.
"We believe MZTI's initiatives to expand its distribution network and international operations will continue to drive strong revenue growth and margins improvement in FY07 and FY08. We maintain a "Buy" rating and a 12 month price target of $1.73 based on a multiple of 5x projected 2008 revenues of $13.5 million. Beyond our 12 month price target, we believe there is strong potential for continued, long term price appreciation."
To receive a complimentary copy of the RedChip Visibility research update for MZTI, please visit: http://www.redchip.com/visibility/about.asp?page=requestMZTI_Q1_2007&from=pressMZTI7232007.
About RedChip Companies, Inc.
RedChip Companies is an international small-cap research and financial public relations firm with offices in Beijing and Orlando and affiliates in New York and San Diego. RedChip delivers measurable results for its clients through its extensive international market expertise as well as its comprehensive platform of products: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences held throughout the United States, and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/services.asp.
Disclosures
This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. RedChip Companies Inc. is an affiliate of the Aurelius Consulting Group, Inc. Mizati Luxury Alloy Wheels, Inc. is a client of RedChip Visibility, a division of RedChip Companies. MZTI paid RedChip Visibility a monthly fee of $10,000 for investor relations, and $36,000 for the RedChip Visibility Research Program, which includes this report.