SOURCE: Standard Holdings Group Ltd.

August 24, 2006 09:20 ET

Standard Holdings Announces Earnings

MCLEAN, VA -- (MARKET WIRE) -- August 24, 2006 -- Standard Holdings Group Ltd. (PINKSHEETS: SNDH) posted consolidated earnings and sales from U.S. and foreign operations for the 2nd Quarter ending June 30, 2006. Revenues for the three months ended June 30, 2006 were $679,643 including other income.

Net income was $164,315 for the three month period.

The Company's manufacturing subsidiary has taken delivery of two new machines; a third is due for delivery; and two others are on order. The transition from old machinery to new machinery and increased maintenance on old machinery impacted production schedules during the Quarter. Meanwhile, the Company continues to employ three shifts working around the clock. This production level will continue even as the new equipment comes on line because demand for the Company's products is increasing and order backlogs are rising.

All amounts have been stated in U.S. dollars.

This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.

For more information visit the Standard Holdings Group web site at http://www.standardholdingsgroup.com

Contact Information

  • Contact:
    Standard Holdings Group Ltd.
    703-821-3434