China Ventures Inc. Reports Improved First Quarter Financial Results.Business Editors VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--May 25, 2004 China Ventures Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CHV CHV canine herpesvirus. ), today announced financial results for the first quarter ended March 31, 2004: - Revenues for the quarter grew by 335% to $560,000 US for the first quarter ended March 31, 2004 compared to $128,000 US for the quarter ended March 31, 2003. - The company incurred a net loss of $150,000 US for the quarter ended March 31, 2004 compared to a loss of $313,000 US for the quarter ended March 31, 2003. Ronald Shon, President, said, "we are delighted with the significant year over year increase in sales revenue. Given the fact that our business is seasonal and that the bulk of the sales revenues are generated in the third and fourth quarters of the year, I am particularly encouraged by the results of the first quarter as compared to the previous year. This bodes well for the balance of the year. As our sales volumes increase over a relatively fixed cost base, I believe the results will be reflected in our bottom line." About China Ventures Inc. ("CVI CVI C (Language) Virtual Instrument CVI Clinical and Vaccine Immunology (journal) CVI Chronic Venous Insufficiency CVI Coastal Vulnerability Index CVI Canaan Valley Institute ") CVI is a Canadian-based company focused on providing educational solutions to various segments of the Chinese economy. The admission of China into the WTO See World Trade Organization. and the granting of the 2008 Olympic Games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. to Beijing have created a growing demand for education, corporate training and extended learning in China which provides significant business opportunities to CVI. On August 2002, CVI acquired Today's Teachers Technology and Culture Ltd. ("TTTC TTTC Test Technology Technical Committee (IEEE) TTTC The Tibetan Tea Company (band) TTTC Too Tough to Call TTTC Trees to the Curb (band) ") in China to expand its educational operations. TTTC is a 12-year-old educational product distribution company whose product line includes books, software, audio and video materials, and educational training tools. On September 2003, CVI acquired Northern Education Books Ltd. ("NEB") which distributes a series of supplementary textbooks, similar to "Coles Notes", for the high school market. If you would like to receive press releases by email, please contact Ronald Shon, admin@chinaventuresinc.com. 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. : Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding revenue estimates and future plans and objectives of China Ventures -- are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including China Ventures' analysis of its product and distribution system and its expectations regarding the effects of anticipated product and distribution changes and the potential benefits of such efforts and activities on China Ventures' results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion