REPEAT/Wildfire Capital Corporation and Pacific Magtron Inc. Complete Transaction.PHOENIX--(BUSINESS WIRE)--July 20, 1998-- Wildfire Capital Plans to Change Its Name to Pacific Magtron International Corp. and Reverse Split Its Stock On a 2 for 3 Basis Wildfire Capital Corporation (the "Company") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:WDFR) announced today that it has completed its transaction with Pacific Magtron Inc. ("Pacific Magtron"), a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation based in the Silicon Vall, Betty Li and Jey Hsin Yao as the new director present stock certificates. The Company's Commng on a post-split basis, including the shares issued to the former shareholders of Pacific Magtron and a consultant in connection with the transaction. The Company will send a letter to its stockholders that explains the procedure for receiving the new certificates representing their shares after the split. Pacific Magtron was organized in 1989. Its offices are located at 1600 California Circle, Milpitas, CA 95035. It provides vertical market solutions and distributes and provides kitted solutions of computer equipment and related hardware components for personal computers. Pacific Magtron's customers include value added resellers See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). , retailers and system integrators, Internet resellers, original equipment manufacturers, independent hardware and software vendors, consultants and contractors. Pacific Magtron sells more than 1,800 microcomputer products, with an emphasis on multimedia and storage products. Its strong financial and industry positions have enabled it to purchase products for resale from leading manufacturers such as Creative Labs, Logitech, Toshiba, Sony, TEAC TEAC Tetraethylammonium Chloride TEAC Theological Education for the Anglican Communion TEAC Technology Education Association of California TEAC Turbine Engine Analysis Check TEAC Timber Export Advisory Committee TEAC Training & Education Advisory Committee and Labtec. On an unaudited basis, for the three months ended March 31, 1998, Pacific Magtron had revenues of $25,219,000, iic Magtron had revenues of $96,737,000, income for the year ended Dec. 31, 1996. The 1997 results include payment of executive bonuses of $500,000. Note to Editors: This press release contains forward looking se will transpire or prove to be accurate. investor.com info@networkinvestorss Wire's full file on the Internet unces Results for Third Quarter of Fiscal 1998,ts new president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . 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 were $17,185,000 for the third quarter of fiscal 1998, as compared to a $18,117,000 for the same period in folesale and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. channels of distribution and an aggressi ve inventory reduction plan which negatively impacted gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. . For the thirty-nine wee 1998 and May 31, 1997. The improved year-to-date results are indicative of higher sales, offset by lower gross profit margin reflective of an aggressive inventory reduction initiative. Robert M. Viola, vice president and chiity distribution and strengthening its balance filiate fil·i·ate tr.v. fil·i·at·ed, fil·i·at·ing, fil·i·ates Law To determine judicially the paternity of (a child born out of wedlock, for example). of the Core Sheth Family, for $2,800,000. Separately, the company announced the appointment of d Tristar into the twenty-first century." e expressed or implied by such forward-looking merica primarily to chain stores, mass merchandi ----------- ----------- Net sales $17,185,000 $18,117,000 $52,893,000 $51,183,000 Cost of sales 13,250,000 12,789,000 38,142,000 36,280,000 ----------- ----------- ----------- ---- ----------- Income (loss) from operations -- 20,000 55,000 70,000 ----------- ----------- ----------- ----------- Net income (loss) $(812,000) $288,000 $506,000 $730,000 ----------- ---00) Warrant valuation adjustment =========== =========== =========== Diluted $(0.06) $0.01 $0.01 $(0.04) =========== =========== =========== =========== -0- CONTACT: TRI TRI Toxics Release Inventory (US EPA) TRI Touch Research Institute TRI Taux de Rentabilité Interne (French: internal rate of return) TRI Taux de Rentabilité Interne TRI Tile Roofing Institute with Hyperlinks to your home page. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com |
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