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Dragon Capital Group Provides Updated Financial Guidance for the Full Year of 2013
Sees Revenues in 2013 Increasing 20% to $24 Million With Net Income Increasing 67% to $1 Million
SHANGHAI, CHINA--(Marketwired - Jun 12, 2013) - Dragon Capital Group Corp. (OTC Pink: DRGV), a holding company of emerging high-tech companies in China, announced today management provides updated financial guidance for this coming fiscal year of 2013. Management sees revenues in 2013 increasing 20% to $24 million with net income increasing by 67% to $1 million. The company sees our entrance into mobile applications software and Gas GIS monitoring software subsidiaries driving the improvement in our bottom line results in the second half of 2013 coupled with a rebound in demand for our lower margin office equipment distribution subsidiary.
Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, stated "In 2012 we returned to profitability and made some key investments for the long term future of our company. By positioning our company in software for both mobile applications and gas line monitoring we believe we can achieve sustainable growth, better margins and enhanced profitability in the coming years. While our lower margin office equipment sales business provides a solid revenue base for the company, the sale of software in these areas can substantially change the growth trajectory of our company. In the first quarter our profit margins and net income increased substantially and we believe we are now in a strong position to build on that in 2013 and beyond for the benefit of our stockholders."
