WESTBURY, N.Y., April 1, 2009 (GLOBE NEWSWIRE) -- Bernard L. Kravitz, president of Dionics, Inc. (OTCBB:DION), a semiconductor / micro-electronics manufacturer best known for its high-reliability photovoltaic (PV) MOSFET Drivers, announced today the Company has just filed its SEC Form 10K report for 2008. Aside from what they consider the "glowing" contents of the report, management is quick to comment that this is the first on-time 10K report in six-years, reflecting the company's newly-acquired "current" SEC status. As Kravitz points out, "In addition to now being current with our SEC reporting, we have also gained re-listing of our Common Stock on the OTC Bulletin Board. These moves should help us greatly in our near-term efforts to increase shareholder value."
Commenting next on what he termed "2008's very satisfying results," Kravitz pointed to the company's 67% year-over-year profit increase, the resulting $.02 per share in earnings and the $300,000 year-end cash position it produced. "Ironically, however," he continued, "we achieved all this just in time for the worst global economic slow-down in many years. Still, although the year 2009 is getting us off to a slow start, until the economy recovers its momentum, our solid cash position makes it possible for us to improve our products, develop new ones and also explore some growth opportunities in new directions. We intend to be ready for the recovery and will not just be waiting it out."
Forward Looking Statements
Statements contained herein that are not based upon current or historical facts 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.