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China 3C Group (OTCBB: CHCG) (Wed, January 2nd, 2008, 11:49am ET) China 3C Group, a major distributor and retailer of consumer and business products, announced today that it has signed an agreement to open its stores in Carrefour, one of the largest retailers in the world.
The agreement is part of China 3C's strategic initiative to capitalize on the expansion of foreign players in China through partnering with global brands.
Zhenggang Wang, CEO of China 3C Group, said, "We are very pleased to be increasing our presence in one of the globe's foremost retailers, Carrefour. This further validates our strategy of dealing with top brand-name retailers and cooperating for mutual benefit."
China 3C will provide further details on the agreement's impact on guidance and store count at a later date.
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Force Protection, Inc. (NASDAQ: FRPT) (Wed, January 2nd, 2008, 9:24am ET) Force Protection, Inc. and General Dynamics Land Systems (NYSE:GD) - through their joint venture Force Dynamics, LLC - today announced that they continued to break monthly vehicle production records in December.
Through the Force Dynamics joint venture, the companies produced 343 Mine Resistant Ambush Protected (MRAP) Category I and Category II vehicles. Force Protection alone also produced seven Category III Buffalo vehicles in December, one more than the six deliveries called for in its sole-sourced MRAP contract, and thereby set a new Force Protection record with 350 total vehicle deliveries. Force Dynamics finished 2007 with 56 vehicles ahead of schedule on all MRAP Category I and II delivery commitments. In addition, Force Protection ended the year with three vehicles ahead of schedule on its sole-sourced Category III Buffalo contracts.
"The strength of the Force Dynamics enterprise was again evident in December, which was a shortened production month due to the holidays," said Force Protection Chief Operating Officer Raymond Pollard.
"During this past year, we've made good on our word to exponentially ramp up production of our life saving vehicles in response to the urgent requests of our customers. Our paramount objective has always been to meet the needs of the warfigher. We feel gratified to note the role our technology has made in establishing a safer, more secure environment for our armed forces in Iraq and Afghanistan, but also realize that there is much work left to do around the world. Force Protection is committed to continuing its record-breaking production performance in to 2008."
The Pentagon has ordered more than 3,000 Cougar and Buffalo vehicles from Force Protection in support of MRAP requirements. To date, the Force Dynamics enterprise has delivered more than 1,360 Cougar MRAP vehicles, the largest number of deliveries of any MRAP manufacturer.
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Secured Digital Applications, Inc. (OTCBB: SDGL) (Wed, January 2nd, 2008, 11:46am ET) Secured Digital Applications, Inc., a global provider of business process outsourcing services and systems integrator for Radio Frequency Identification ("RFID"), Global Positioning System ("GPS"), Global System for Mobile Communications ("GSM"), Wireless Local Area Network ("WIFI") and Bluetooth applications today announced the Company generated revenue of approximately $46.0 million, a 25.5% increase year on year growth over 2006. The growth, based upon the Company's anticipated unaudited financial results for 2007, is within the estimate provided in the SDGL's January 3, 2007 press release.
Business Outlook
For fiscal 2008, revenue is expected to be between $55 - 60 million and net income in the range of $2.5 - $3.5 million. In providing guidance for 2008, the Company said it expects to increase revenue through expanded operations in the U.S. and China. 2008's forecast is based on recurring contracts and orders received in the third and fourth quarter of 2007. The forecast does not include new orders and contracts currently being negotiated with several parties.
SDGL has completed the streamlining of its operations into 3 business segments: multimedia content production, business process outsourcing services; and integrated RFID, GSM, GPS, WIFI and Bluetooth applications ("integrated wireless applications"). SDGL will draw on its experience in brand building, marketing and its networking in the U.S. and China to promote the Company's integrated wireless applications. RFID, in particular, has emerged as the driver of productivity growth globally, covering all sectors. China is expected to be a major contributor to SDGL's revenue in 2008.
SDGL has appointed Mr. Elwayne Hafen as its U.S. Business Development Consultant - Country Director effective January 1, 2008. Mr. Hafen brings with him over 28 years experience in the stock broking business. He will be responsible for developing a market for the Company's products and services in the U.S., identifying and building new business opportunities in both the U.S. and international markets. Such opportunities will include mergers, acquisitions, joint ventures or strategic alliances with organizations that will create synergies, add value and, more importantly, boost SDGL's durable competitive edge. Mr. Hafen will also be assisting SDGL to organize product and investment road shows.
"We look forward to a very productive 2008 are confident of achieving our targets and successful execution of our expansion plans in the U.S. and China," said Patrick Lim, Chairman and CEO of SDGL. "Mr. Hafen is expected to play a key role in implementing SDGL's business plans and further improve on the Company's visibility in the U.S."
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