WESTBURY, N.Y., May 18, 2009 (GLOBE NEWSWIRE) -- Bernard L Kravitz, president of Dionics, Inc., (OTCBB:DION) a semiconductor / micro-electronics manufacturer best known for its high-reliability photovoltaic (PV) MOSFET- Drivers, announced today the Company has just filed its SEC Form 10Q report for the First Quarter of 2009. "Dealing with the world-wide economic slowdown," Kravitz explained, "we simply could not side-step the impact of a greatly reduced order-input rate. Our Q-1 sales volume dropped by 33% and we sustained a loss of almost $65,000," he pointed out.
"The company has been taking all reasonable steps to reduce our operating expenses," Kravitz continued, "and is also using the slow period to enhance product performance. While we remain confident in, and committed to, the future of our PV MOSFET-Driver product-line, our solid cash position makes it possible for us to also explore growth opportunities in other directions. We intend to be ready for the recovery and will not just be waiting-it-out," Kravitz concluded.
Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate "believe", estimate", "plan", "intend" and "expect" and similar expressions, as they relate to Dionics, Inc. or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects and opportunities to differ materially from those expressed, or implied by these forward-looking statements. Certain of those factors are discussed in the Company's filings with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.