WESTBURY, N.Y., Nov. 13, 2008 (GLOBE NEWSWIRE) -- Bernard L. Kravitz, president of Dionics, Inc. (Pink Sheets:DION), a semi-conductor/microelectronics manufacturer best known for its high-reliability photo-voltaic (PV) MOSFET-Drivers, announced today the filing of its last delinquent SEC reports. With its First and Second Quarterly 2008 reports, the Company completed its SEC "catch-up" program, following six years of filing-delinquencies caused by its post-9/11 financial distress. The Company's recent profitable turnaround permitted it to embark on the multi-year auditing/filing catch-up program, now finally complete.
In addition, the Company has just filed a timely Nine-Month report for 2008 that shows it continuing on the new, profitable track. "We are very pleased," Kravitz said, "that after so many non-filing years, we have finally achieved both a 'current' status with the SEC and a profitable status for our shareholders. We are especially happy to share with them our full-year 2008 projections for a 13% annual Sales increase, coupled with Earnings of $.02 per share, plus the news that we shortly hope to be re-listed on the OTC Bulletin Board."
"Presently limited by poor visibility, however, as we look beyond year-end 2008," Kravitz continued, "the main things we see through the deepening fog are the rapidly slumping economy and some of our legacy product-lines in transition. Still, our confident longer-term focus continues to be to concentrate on the huge upside market-potential for our PV MOSFET-Drivers. And relatively healthy again, as we now are, there might still be a few more 'rabbits in the hat,' waiting to be pulled out," he concluded.
Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to Dionics, Inc. or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's Actual results, performance, prospects and opportunities to differ materially from those expressed or implied by these forward-looking statements. Certain of those factors are discussed in the Company's filings with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.