/ CORRECTION - CH Lighting International Corp.
* Reuters is not responsible for the content in this press release.
JINHUA, CHINA, Feb 19 (MARKET WIRE) -- In the news release, "CH Lighting International Corporation Reports First Quarter Results," issued Wednesday, February 18, 2009, by CH Lighting International Corp. (OTCBB: CHHN), we are advised by the company that in the first and second paragraphs, the dates for the period end of the company's first quarter should read "December 31, 2008" rather than "December 31, 2009" as originally issued. An additional contact has also been provided for this release. Complete corrected text follows. CH Lighting International Corporation Reports First Quarter Results JINHUA, CHINA -- February 18, 2009 -- CH Lighting International Corporation (OTCBB: CHHN), one of the world's leading designers and manufacturers of a wide variety of fluorescent lighting products and a leading company in China in the rapidly growing special light source market, today reported results for its first fiscal quarter ended December 31, 2008. According to the Company, revenues in its first quarter ended December 31, 2008 were $16,664,000, down from the $21,859,000 reported by the Company in its first quarter last year. The Company said that despite the sales decline, net profit in this year's first quarter of $3,911,000 nearly matched the $4,158,000 net profit it achieved in the first quarter last year. It noted that while G&A expenses grew from $861,000 in last year's first quarter to $2,037,000 in the first quarter this year, the Company's cost of sales decreased from approximately $14.95 million in last year's first quarter to $10.9 million this year. About the Company Based in Jinhua, China, CH Lighting International Corporation, founded in 1994, is a diversified designer, manufacturer and exporter of more than 1,000 types of fluorescent lighting and related products. It is the leader in China in environmentally friendly special lighting products such as Air Cleaning Lamps, Power Saving Lamps and Plant Growth, Vision Improvement and Performance Improvement Lighting Products. Additionally, its General Light Products, which account for approximately 8% of China's linear fluorescent lamp manufacturing, make it the third largest manufacturer of these products in the country. While exports of the Company's products around the world have grown rapidly, it is increasingly focused on domestic sales, encouraged and supported by government policies aimed at reducing power consumption and improving the environment. Additional product information is available at http://chlighting.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the Company's reports filed with the U.S. Securities and Exchange Commission from. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. No securities regulatory authority has either approved or disapproved the contents of this news release. CH Lighting International Corporation Results of Operations For the Three (3) Months Ended December 31, 2008 Compared To The Three (3) Months Ended December 31, 2007 December 31, 2008 December 31, 2007 ----------------- ----------------- Net Profit $ 3,911,000 $ 4,158,000 Revenues $16,664,000 $21,859,000 Cost of Sales $10,987,000 $14,953,000 Selling Expenses $ 1,044,000 $ 645,000 General and Administrative Expenses $ 2,037,000 $ 861,000 Interest Expense $ 1,088,000 $ 853,000 CONTACT: Liya Wu Tel: 646-5737654 Fax: 905-7559434 Email: email@example.com Ken Donenfeld Tel: 212-425-5700 Copyright 2009, Market Wire, All rights reserved. -0-
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