Asia Fiber Holdings Limited Continues to Post Positive Earnings; Asia Fiber Holdings Limited Posts $.03 Per Share Earnings for Second Quarter Ended June 30, 2001.Business Editors LOS ANGELES--(BUSINESS WIRE)--Aug. 21, 2001 Asia Fiber Holdings Limited Book Value Increases by $.027 Per Share to $1.267 Per Share Asia Fiber Holdings Limited (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AFBR AFBR Anaerobic Fluidized-Bed Reactor ) today announced the filing of its Form 10-QSB with the Securities and Exchange Commission on August 20, 2001, for the three-month period ended June 30, 2001. For the three-month period ended June 30, 2001, the Company's sales increased by sixteen percent (16%) to US$12,463,000, as compared to sales for the three-month period ended March 30, 2001 of US$10,738,000. For the three-month period ended June 30, 2001, gross profit increased by ten percent (10%) to US$1,780,000, as compared to gross profit for the three-month period ended March 30, 2001 of US$1,613,000. For the three-month period ended June 30, 2001, the Company posted positive per share earnings of three cents ($.03) per share, for a total per share earnings of six cents ($.06) per share for the six months ended June 30, 2001. Moreover, the Company's book value per share increased by US$.027 per share to US$1.267 per share. Ching For the Chinese surname Ching 程, see . For the Chinese dynasty, see . The ching (Thai: ฉิ่ง; sometimes romanized as chhing) are small bowl-shaped finger cymbals of thick and heavy bronze, with a broad rim commonly used in Cambodia and Lung Po, chairman of Asia Fiber Holdings Limited, stated, "We look forward to continued increases in revenue and profitability in the polyester fiber Noun 1. polyester fiber - a quick-drying resilient synthetic fiber consisting primarily of polyester polyester - any of numerous synthetic resins; they are light and strong and weather resistant industry." About the Company Asia Fiber Holdings Limited (OTCBB:AFBR), a Delaware corporation, is the controlling shareholder of an operating company operating company A business that engages in transactions with outsiders. based in the People's Republic of China (PRC) which manufactures and distributes polyester fiber for use in the apparel and textile industries. Its applications include everything from socks, leisure-wear and lingerie to carpet pile, tire cord and seat belts. This news release should be read in conjunction with the Company's 10-QSB which was filed with the Securities & Exchange Commission on August 20, 2001. Statements made in this news release concerning predictions of performance and the company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release. Readers should carefully review the company and publicly available filings thoroughly with their registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in or registered broker. |
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