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SheerVision, Inc. Announces Profitable Quarter and Worldwide Growth
Rolling Hills, CA - (WORLD STOCK WIRE) - October 12, 2007 -- SheerVision, Inc. (OTCBB: SVSO), a leading provider of advanced proprietary surgical loupes and light systems, today announced that the company has achieved profitability for the fourth quarter of 2007 and sales for the fourth quarter have increased by over 100%.
We are extremely excited about our fourth quarter results and are pleased to inform our shareholders that this marks the first time since being public that the company has posted a profitable quarter. We have achieved gross profit of over 60% and we anticipate that our direct sales and marketing along with our network of international distributors will help in the continued growth and revenues of the company based on the growing market demand for our product, stated SheerVision, Inc. CEO, Suzanne Lewsadder.
For the 4th quarter ended August 31, 2007, sales increased 118% percent over the previous years 4th quarter, representing our strongest quarter of this fiscal year.
The same entrepreneurial spirit that was the foundation of SheerVision in 1999 is still driving our business today," added Lewsadder. "We're proud to be recognized by our shareholders and the medical and dental industries for our ability to execute our business strategy. We know it is because of our ability to consistently offer a competitive value while continuing to serve our customers with unparallel service."
SheerVision has quickly captured a leading position in the dental hygiene market segment. The company's value proposition revolves around its ability to provide top quality loupes and light systems directly to end-users and distributors at substantially lower prices than the competition.
Over the past 12 months, the company has been extremely focused on cost containment while increasing our worldwide distribution. Distributors sales increased 37% over the previous years 4th quarter and the companys net operating expenses were down 27% over the previous years 4th quarter operating expenses, stated SheerVision, Inc. CFO, Suzanne Puente.
The appointment of our international distributors is an important milestone in our global marketing expansion efforts and fulfillment of our channels strategy. We anticipate the continuation of our expansion of our network of distributors across Europe, Africa, North America, South America and Asia to add to our profitability over the next 12 months, added Puente.
Our commitment to manufacture the highest quality surgical loupes and light systems has enabled our international distributor program to grow at a pace faster than originally projected. The trade show exhibitions have been excellent in branding SheerVision as well providing immediate revenues, added Lewsadder.
2007 Company Highlights
1. Introduced enhanced Firefly Infinity(TM) LED light system 2. Sales increased by 48% over the past 12 months 3. Profit from operations in Fiscal Q4 2007 4. Worldwide Distribution now includes Japan, Taiwan, Australia, Spain, Canada, Mexico, India, Saudi Arabia, and the United Kingdom 5. Retained National Investment Banking firm to identify acquisitions and expansion capital 6. Launched new line of Signature Prism Loupes About SheerVision, Inc.
SheerVision designs, engineers, and markets proprietary surgical loupes and light systems to the dental and medical markets worldwide. The company recently launched their new Firefly Infinity LED Portable Light which is nearly twice as bright as traditional LED Lights.
SheerVision's light and loupe products are recommended by a leading independent non-profit dental education and product testing foundation and were featured in the foundation's 2005 and 2006 Buyer's Guide and in "Dental Lab Products" 2005 Buyer's Guide as the "Best of the Best" Offering.
For additional information about SheerVision and their complete product line, please visit the companys website: www.sheervision.com
All of the companys quarterly reports are filed with the Securities and Exchange Commission at www.sec.gov.
Contact: Wall Street Marketing Group Mark Taggatz Telephone: 760-329-4169 email: info@wsmg.biz
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: the company's ability to generate product sales and operating profits, potential vulnerability of technology obsolescence, potential competitive products by better capitalized companies, potential difficulty in managing growth, dependence on key personnel, and other risks which will be described in future company Securities and Exchange Commission filings. SheerVision undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
Suzanne Lewsadder, CEO SheerVision, Inc. 4030 Palos Verdes Dr. North Rolling Hills, CA 90274 USA
Phone: 877-678-4274 Fax: 310-265-8919
Source: SheerVision, Inc. Note: The following press release was submitted by: SheerVision, Inc., and World Stock Wire, Inc. is not liable for the contents of this press release.
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