SOURCE: Cavico Corporation

August 02, 2006 06:30 ET

Cavico Corp Provides Forward Guidance to Investment Community, With Revenues for FY2006 to Exceed $80 Million and $130 Million Projected for FY2007

LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- August 2, 2006 -- Cavico Corporation (PINKSHEETS: CVCP), a company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, today released guidance for its 2006 and 2007 revenue forecasts. Revenues for fiscal year 2006 should be approximately $80 million, with guidance for 2007 projected at $130 million. All numbers are US dollar figures.

The company has recently announced several large contracts, including: Nam Chien Hydropower ($24 million); Ban Ve Tunnel ($20 million); Serepok 3 Hydropower (VINAVICO $54 million) and the Dong Nai 4 Hydropower ($26 million). Cavico continues to pursue infrastructure projects throughout Vietnam and is also building new relationships throughout the region.

"The strength of the Vietnamese economy, coupled with support from the US surrounding Vietnam's inclusion in the WTO are two long-term positives for Cavico," stated Timothy Pham, Executive Vice President and Assistant Secretary for Cavico Corp. "We continue to move forward with our existing projects, which are underway, while seeking out additional opportunities for growth internationally."

For more information about Cavico, please refer to the company's website at: http://www.cavicocorp.com.

About Cavico Corporation

Cavico (www.cavicocorp.com), founded in 2000, is a major infrastructure construction, infrastructure investment, and natural resources conglomerate headquartered in Hanoi, Vietnam. The company is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, and urban community developments. One of the company's primary competitive advantages is its ability to nurture a project "from concept through completion" with a vertical portfolio of interrelated investment, permitting, design, construction management, and facility maintenance services. Cavico's project partners often include top multi-national corporations as well as government organizations. The company currently employs more than 3,000 people.

Vietnam's transition to a market economy has generated rapid economic growth. The country's impending ascension to the World Trade Organization is likely to provide an additional boost to economic growth and a further acceleration in the country's current infrastructure construction boom. The aggressive development of Vietnam's energy, transportation, and urban infrastructure is absolutely essential to the country's ability to compete internationally, and this aggressive build-out is creating huge growth opportunities for infrastructure construction companies such as Cavico.

"Safe-Harbor" Statement

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.

Contact Information

  • Contacts:

    For Cavico Corporation:

    Timothy Pham
    Phone: 714-843-5456
    Email: Email Contact

    Cavico Corporation Investor Relations:

    Cinapsys, Inc.
    Mark Moline
    Phone: 760-458-4899
    Email: Email Contact