HONG KONG, Feb. 14, 2011 /PRNewswire-Asia/ -- ACL Semiconductors Inc. (OTC Bulletin Board: ACLO.OB), a leading China-based distributor of Samsung memory electronic products in Hong Kong and Southern China, expects strong fourth quarter and full year 2010 results based on Samsung's record setting fiscal year.
Mr. Alan Yang, Chairman and Chief Executive Officer of ACL Semiconductors, commented, "Samsung has just wrapped up their best year yet in terms of both net sales and net income in 2010. To have that kind of performance in a challenging economic environment over the past year is impressive. Along the same lines we are also expecting a strong fourth quarter and full year 2010 results."
According to Samsung's recent earnings release, consolidated revenue was an all-time high of 154.63 trillion won in 2010 ($138.86 billion) up 13 percent from the previous year's record of 136.32 trillion won. Samsung also indicated that operating profit for 2010 was 16.15 trillion won.
Mr. Yang continued, "With the rise of tablet devices, consistent growth sales of mobile phones and continued demand in LCD TV's, we are expecting another strong year for Samsung in 2011. Likewise it signals a strong year for ACL as we look forward to providing high quality Samsung products and value added services to our network of customers in the coming year."
About ACL Semiconductors
ACL Semiconductors distributes electronic components under the "Samsung" brand name to the Hong Kong and South China markets. The memory chips are used in a broad range of consumer electronic devices including mobile phones, laptop computers and MP3 players. For more information about ACL Semiconductors please visit ACL Semiconductors' corporate website at http://www.acl-semicon.com.
Cautionary Note Regarding Forward-Looking Statements
This press release and the statements of representatives and partners of ACL Semiconductors Inc. (the "Company") related thereto contain, or may contain, among other things, certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results (including, without limitation, results of the Company's application to list shares of its common stock on NASDAQ) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE ACL Semiconductors