Asia Pacific Wire & Cable Reports on Positive Third Quarter Results; Evaluates Enhanced Listing Alternatives For Company's Stock.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 8, 2002 Asia Pacific Wire & Cable Corporation Limited (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : AWRCF) hosted another investor conference call on November 5th during which management discussed the Company's positive third quarter performance as announced in its press release dated November 1, 2002. Among the Company's financial highlights for the first nine months were a 27% increase in net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight and a 345% increase in income from operations over the same period in 2001 and a net profit of $6.9 million compared to a loss of $0.3 million for the first nine months of 2001. The Company also announced that it is evaluating three enhanced trading markets for the Company's stock. The first alternative is to list on the Bulletin Board Exchange (BBX BBX Business Basic Extended BBX Business Barter Exchange BBX Blue Bell, Pennsylvania (Airport Code) BBX Blockbuster Express (UK video store) ), the proposed NASD-sponsored exchange that is anticipated to replace the OTC Bulletin Board (OTCBB OTCBB See OTC Bulletin Board (OTCBB). ), where the Company's stock is currently traded. The BBX will have qualitative listing standards and an electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. system which it is believed will allow for more efficient execution of trades and generate greater liquidity for investors. The second alternative is for the Company to pursue a listing on the Nasdaq SmallCap Market and the third option is a listing on a regional exchange. "All of the alternatives we are currently evaluating are geared toward increasing our share price and providing shareholders with a more liquid market for the Company's stock," stated Tom Tung, Chairman of Asia Pacific Wire & Cable. "We will pursue the option that is in the best interests of our shareholders and continue to build on the positive financial results that the Company achieved in both the second and third quarters of 2002." The Company also reiterated its intention to appoint an Asia Pacific Wire & Cable representative in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to address investor inquiries and increase the Company's communications overall. The Company is still in the process of identifying the most qualified candidate for this position. About Asia Pacific Wire & Cable Asia Pacific Wire & Cable Corporation is a leading manufacturer of wire and cable products for the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and power industries in selected markets in the Asia Pacific Region. Except for statements of historical fact, this news release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. about the Company. Such statements are subject to significant risks and uncertainties, including changes in economic and market conditions, successful implementation of growth plans, and other risks noted in the Company's SEC filings which may cause actual results to differ materially. |
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