WESTBURY, N.Y., Nov. 13, 2009 (GLOBE NEWSWIRE) -- Dionics, Inc. (OTCBB:DION), a semiconductor / micro-electronics manufacturer best known for its high-reliability PV (photo-voltaic) MOSFET-Drivers, announced its Third Quarter 2009 financial performance. The results showed a 65 percent fall-off in sales volume from the same period last year, dropping to $86,700 and producing a $104,200 loss for the period; both came as a result of greatly reduced order-inputs in what was already the traditionally slowest quarter of the year. Bernard L. Kravitz, company president, described the performance as a "major disappointment, largely caused by the slow rate of recovery in the market-segment that we serve. On the brighter side, however," he continued, "I point out the very encouraging upturn in new order bookings for the Fourth Quarter, and the sharp performance-rebound that appears to be taking shape. Although the year as a whole will be a very poor comparison to 2008, it must also be recalled that 2008 was an unusually strong year for us. Looking ahead, though, we are seeing signs of possible stabilization returning."
Moving to "still more upbeat news," Kravitz pointed out the "undeniable importance" of the recent $440,000 investment in Dionics by Central Mega Limited, a British Virgin Islands company. "Their support," he explained, "far outweighs the significance of any short-term quarterly fluctuations, regardless of how severe. Their funding not only puts a safety net under our company, but it also permits us to more aggressively pursue new product enhancements and to even seriously consider strategic merger opportunities." He continued by explaining, "The CML Asian contacts, particularly in China, offer the promise of increased foreign sales for our PV-MOSFET-Drivers as well as prospects for other growth-targeted relationships. It is hard to overstate the future benefits that may eventually stem from this new CML investment," 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 obligations to release publicly any revisions to forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.