updated 11/16/2010 7:45:52 AM ET 2010-11-16T12:45:52

WESTBURY, N.Y., Nov. 16, 2010 (GLOBE NEWSWIRE) -- Dionics, Inc. (OTCBB:DION), a semiconductor/micro-electronics manufacturer known for its high-reliability PV (photo-voltaic) MOSFET-Drivers, today issued its Nine-Month and Q-3 reports for 2010 showing advancing sales volume over last year. Losses, however, widened as the company's program for increasing its sales in the large potential Chinese market-place required it to make a significant non-cash stock-compensation payment of 900,000 shares to its new Chinese consultants. Sales volume for the Third Quarter rose 66% compared to the same period last year, reaching $143,800, while Nine-Month sales volume reached $567,200, an increase of 24% over the comparable period in 2009.

Bernard L. Kravitz, company president, explained that, "Losses grew as a result of programmed investments in both PV MOSFET-Driver cost-reductions and the establishment of a sales/marketing and distribution capability in the large Chinese market-place. A major cost item," he explained, "was the Q-3 non-cash stock-compensation payment made to our new Chinese consultants. It is worthy of note," he added, "that they were confident enough in our future to accept shares in our company rather than insisting on cash payments. We look forward to working with them through some admittedly difficult times ahead as we grow our brand in the China-market," he explained. "We, and our consultants, expect our investment to pay off handsomely in the future," he concluded.

Forward-Looking Statements

This report contains certain forward-looking statements and information relating to the Company that are based on the beliefs and assumptions made by the Company's management, as well as on information currently available to the management. When used in this document, the words "anticipate," "believe," "estimate" and "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary from those described herein as anticipated, believed, estimated or expected.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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