Highlights:
- Atlas Technology to Report Fifth Consecutive Quarter of Double-Digit Financial Gains
- Company Rapidly Capturing Market Share as it Continues to Lead with New Innovations
- Company Expects to Reduce Total Shares Outstanding to less than 30 Million
- Company Expects to Announce Number of New Contracts with Large U.S.-based Blue-Chip Companies Before Year-End
- Management Team to Pursue Foxconn's Clients that Have Been Lost in Recent Shuffle
- Company Preparing for Global Launch of Branding and Licensing Strategy
- Various Initiatives Designed to Boost EPS and Shareholder Value
LOS ANGELES, CA / ACCESSWIRE / November 7, 2017 / Atlas Technology International, Inc. (OTCQB: ATLT), a rapidly growing designer, manufacturer, and distributor of touchscreen devices, today announced that it expects to exceed its previously reported projections for both revenues and earnings for its first quarter of Fiscal 2018 ended September 30, 2017. This will not only represent the Company's fifth consecutive quarter of double-digit growth but, more importantly, is beginning to solidify Atlas Technology's position as a serious competitor in the multi-billion dollar and rapidly growing touchscreen industry.
Company Sees Accelerated Growth in Coming Quarters Due to New Sales Channels
For the first quarter of Fiscal 2018, the Company expects to report revenues of over $2,200,000 and earnings of more than $580,000, or $0.01 per basic and diluted share, which includes an approximate non-cash $120,000 loss from a change in derivative liabilities, which is expected to be reversed in the current quarter. This compares to the Company's previously announced revenue guidance of between $1,900,000-$2,200,000 and earnings guidance of between $350,000-$400,000, or $0.01 per basic and diluted share. It is important to note that the Company's earnings per share has the potential to grow to well over $0.04-$0.05 per basic and diluted share once it implements its previously-announced change in its capitalization structure. That change, which is expected to decrease the Company's shares outstanding to less than 30 million shares through the cancellation of excess shares held by the Founders, is expected to be completed by the end of this month.
"Our first quarter financial performance, which was fueled by strong revenue and earnings growth, significant cash flow and record gross margins, is a clear testament of the quality of our technology, creativity of our engineering and a level of commitment to our clients that no other firm in our industry can claim," said Matthew Tsai, Chief Executive Officer of Atlas Technology, Inc. "More important than our financial performance was our operational achievements, which included the development of our North American sales and marketing strategy which delivered on nearly half a dozen new multinational clients just since moving our corporate headquarters to Los Angeles. As we announced in our last quarter's results, based on the current economic climate, increasing demand for touchscreen technology and our unique ability to deliver where most cannot has positioned us for what will likely be a breakout year for our company and, as a result, our shareholders."
Company Capturing Market Share at Record Pace
"The pace that we are acquiring market share in the United States is well beyond even our internal expectations. However, it is not surprising given our engineering team's level of innovation, the strengthening of our customer relationships, a lean operating team and soon the launch of a branding and licensing strategy that we expect could significantly boost our earnings potential. As we continue to grow at our current levels, there is no question that we will soon face the industry's 800-pound gorilla, Foxconn, which as everybody is fully aware has also moved its facilities to the United States. However, from an opportunity perspective, the potential benefit from their move is all ours. In fact, many of their clients have already contacted our team and, as early as this week, we expect to announce the first of many new clients that we have or are in the process of acquiring due to the loss of services stemming from Foxconn's move to the United States. As I have always said, these are going to be some very interesting and exciting times in the touchscreen industry and I am humbled to be in the midst of it all, all the while not losing our number one priority: the enhancement of shareholder value," concluded Mr. Tsai.
To be added to Atlas Technology's investor lists, please contact Bill Miller at Investor Relations Partners at (844) 565-5665 or via email at bmiller@irpartnersinc.com.
About Atlas Technology International, Inc.
Atlas Technology International, Inc. (OTCQB: ATLT) is a designer, manufacturer, and distributor of touchscreen devices to consumer electronic producers all over the world. Their products power the interface to a wide array of smart devices including GPS systems, point of sale machines, hospitality and medical devices and small appliances. For further information on Atlas Technology International, please our website at www.atlastechintl.com.
(This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Atlas Technology International, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Atlas Technology International's current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Atlas Technology International's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Atlas Technology International undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.)
Investor/Media Contact:
Bill Miller
Investor Relations Partners
Phone: 844-565-5665
bmiller@irpartnersinc.com
SOURCE: Atlas Technology International, Inc.
