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Today's news alerts include: DAC Technologies Announces First Quarter Results -- 30% Increase in Revenue and 339% Increase in Net Income
LITTLE ROCK, AR, May 15, 2009 -- DAC Technologies (OTCBB: DAAT | Quote | Chart | News | PowerRating) today announced financial results for the quarter ending March 31, 2009. The Company reported net sales of $3,533,456 for the quarter as compared to $2,715,769 for the same period in 2008. This is an increase of $817,687, or 30%. Income from operations was $347,858 as compared to $131,512 in 2008. This is an increase of $216,346, or 165%. Net income for the first quarter of 2009 was $184,299 as compared to $41,974 for the same period in 2008. This is an increase of $142,325, or 339%.
David A. Collins, Chairman and CEO, stated, "The Company is finally beginning to benefit from lower commodity prices and lower shipping rates. This is reflected in the Company's higher gross margins of 30.33% for the first quarter this year as compared to 26.84% in 2008. Also, the Company benefits from its very strong financial condition, strong balance sheet and low interest cost."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Marlin, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward looking statements.
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