NEW YORK, April 19, 2011 (GLOBE NEWSWIRE) -- SunSi Energies, Inc. (the "Company") (OTCQB:SSIE) today announced that it had recorded revenue of approximately $4.6 million for its fiscal 2011 third quarter ended February 28, 2011. These revenues were generated from its Baokai trichlorosilane ("TCS") distribution subsidiary located in Zibo, China, which was acquired in December 2010.
TCS is a chemical compound primarily used in the production of polysilicon, an essential raw material used in the production of solar cells for photovoltaic ("PV") panels that convert sunlight to electricity for homes, businesses and farms, for example. Additionally, purified TCS is the principal source of ultrapure silicon in the semi-conductor industry. Approximately 75% of all solar panels in use worldwide contain TCS.
For its fiscal 2011 fourth quarter ending May 31, 2011, SunSi is projecting revenue to be in the range of $11.0 to $13.0 million. The projected increase in revenues in the fourth quarter over third quarter levels reflects the Company's March 7th 2011 acquisition of a 60% equity interest in He Xie Silicon Co. ("Wendeng"), a TCS facility located in Weihai City, China. As a result of the Wendeng acquisition, SunSi is projecting ongoing profitable operations on a consolidated basis; with earnings per share anticipated to be in the range of approximately $0.01 to $0.02 for the Company's fourth quarter ending May 31, 2011. Once the Company's fiscal year is completed, it will begin to formally initiate full guidance metrics for its fiscal year ending May 31, 2012.
David Natan, SunSi's Chief Executive Officer, stated, "I am very pleased to report that we are executing our business plan of acquiring profitable TCS operations in China; helping to grow them organically and consolidating the results of these subsidiaries with an efficiently run, and low cost U.S. public company. The result will be to generate earnings and increase the enterprise value of SunSi for our shareholders."
Richard St-Julien, President of SunSi Energies Hong Kong Limited, stated, "We remain encouraged by the progress we are making in the TCS market and the outlook for TCS in both China and the rest of the world. We will continue focusing our efforts on expanding the Wendeng facility from its current capacity of approximately 22,000 MT to 75,000 MT by the end of 2011; in order to capitalize on the expected increase in TCS demand which we are already seeing from our customers. Wendeng is currently operating at full capacity and generating excellent profits."
About SunSi Energies Inc. ("SunSi")
SunSi's focus is to acquire and develop a portfolio of high quality trichlorosilane producing facilities that are strategically located, and possess a potential for future growth and expansion. SunSi now controls approximately 47,000 metric tons ("MT") of TCS productions, which is believed to be the largest, TCS only, company in China.
Relatively unknown, but essential to the solar industry, TCS is a chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for photovoltaic (PV) panels that convert sunlight to electricity. TCS is considered to be the first product in the solar PV value chain before polysilicon, and is also the principal source of ultrapure silicon in the semiconductor industry. It is believed that SunSi will become the first and only "pure play" public company in the world focusing exclusively on the production and sales of TCS. SunSi Energies Inc. is traded on the OTCQB under the ticker "SSIE". For additional information, please visit the Company's website: .
This news release contains forward-looking statements related to the future financial condition and results of SunSi's operations. These statements are based on current expectations and estimates about the trichlorosilane markets and industry in which SunSi operates, management's beliefs and assumptions regarding these markets, future growth prospects, becoming immediately profitable, future earnings and revenue projections, the percentage of solar panels requiring TCS, completion of the Wendeng expansion plan, the size of SunSi's TCS capacity compared to other Chinese TCS companies, other acquisition transactions and attaining an AMEX listing. These statements are subject to important risks and uncertainties, which are difficult to predict, and assumptions which may prove to be inaccurate. Some of the factors that could cause results or events to differ materially from current expectations include, but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; raising sufficient capital to pay the Wendeng shareholder and fund the expansion of Wendeng to 75,000 MT, attaining the required number of shareholders to meet AMEX listing requirements, the price of TCS sold within China and outside of China, attaining projected revenue of $20-$25 million per year at Wendeng, the level of production by the Wendeng factory, Baoaki's success in attaining new clients under its distribution agreement, and success in implementing productivity initiatives. Some of these factors are largely beyond the control of SunSi. Should any factor impact SunSi in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, therefore, there can be no assurance that the results or developments anticipated by SunSi will be realized or, even if substantially realized, that they will have the expected consequences for SunSi. Readers should not place undue reliance on any forward-looking statements. Furthermore, SunSi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.
Acorn Management Partners ("Acorn") SunSi's investor relations firm is a leading independent investor relations firm, specializing in shareholder relationships while offering a full range of advisory and operational support to domestic and international companies. Acorn's team of experts is dedicated to building relationships for our corporate clients in the global capital markets giving management the freedom to focus on their strengths and core activities. Acorn has offices in Atlanta, Georgia and London, UK.
CONTACT: Investor Relations: Acorn Management Partners, LLC John R. Exley, III Direct 678-368-4002