ONTARIO, Calif., Nov. 6, 2008 (GLOBE NEWSWIRE) -- SOYO Inc. (OTCBB:SOYO), an innovative provider of computer and consumer electronics products, today announced that third quarter unaudited net revenues were approximately $29.5 million and that third quarter net income before preferred dividends was approximately $150,000.
SOYO's senior management decided to disseminate this information to shareholders as quickly as possible, since the revenue results were slightly lower than projections. Prior to this, SOYO delivered eleven straight quarters of increasing revenues, compared to the same period in the previous year.
SOYO also announced that it will issue its third quarter 2008 earnings report on Tuesday, November 11, 2008. The Company will host a conference call to discuss the results for third quarter and provide forward looking guidance for fourth quarter and year-end 2008, and for the first two quarters of 2009. Details for the call are as follows:
* Date/Time: Tuesday, November 11, 2008 3:00pm Pacific Time
(6:00pm Eastern)
* U.S./Canada Toll-Free Call-in Number: (866) 830 - 4434
* International Toll-Free Call-in Number: (706) 902 - 0008
* Conference ID # 72653538
It is recommended that participants call in five to ten minutes prior to the beginning of the call.
About SOYO Inc.
SOYO, Inc. is a leading global provider of computer, consumer electronics, and broadband telecommunications products and services. Headquartered in Ontario, Calif., with sales offices in Latin America, the SOYO brand has become synonymous with quality, performance and value. For more information about the company and its products, please call 909-292-2500 or visit our Web site at http://www.SOYO.com.
"Safe Harbor" Statement
This release contains certain statements that may be deemed ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. The words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions, are intended to identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the availability of components and successful production of the company's products, successful performance of internal plans, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the company's filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Please refer to the company's filings at http://www.sec.gov.