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News, Articles and Releases
Asconi Reports 19% Growth In 2003
Case Sales
Company To Issue 2004 Guidance
On January 28, 2004
THURSDAY,JANUARY 22, 2004 9:37 AM
ORLANDO, Florida, January 22, 2004 - /PRNewswire-FirstCall
via COMTEX/ -- Asconi Corporation (Amex: ACD), one of the largest
Eastern European producers of wines and spirits, today announced
the production and case sales results for 2003. The Company shipped
a total of 1,639,685 cases of wines and spirits for the year ended
December 31, 2003, a 19% increase versus the same period during
2002.
"We are pleased to announce that 2003 was another year of
rapid growth for Asconi," said Constantin Jitaru, President
and CEO of Asconi Corporation. "Case sales, a key operating
metric for the Company, significantly increased in both our traditional
markets as well as new markets such as Israel. 99% of all Asconi
wines are exported outside of Moldova, and we are looking to enter
additional markets in 2004. We also believe our traditional importers
such as the Russian Federation and Eastern Europe will see organic
growth, since these regions were named among the fastest-growing
wine markets in recent research studies".
Asconi also announced that it will release the earnings guidance
for fiscal 2004 on Wednesday, January 28, 2004, after the market
close.
About Asconi Corporation
Asconi Corporation (AMEX: ACD) is one of the largest producers
and distributors of wines and spirits in Eastern Europe. Asconi
currently markets its products in seventeen countries worldwide
and offers an extensive portfolio of over 350 items in fifty product
lines. The Company is involved in every aspect of wine and spirits
production and distribution, from grape processing to sales of alcoholic
beverages.
For more information, please visit www.asconi.com.
Contact: Mr. Serguei Melnik, Asconi Corporation Chief Operations
Officer
Phone: 407 679-9463
Email: info@asconi.com
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: The
statements in the press release that relate to the company's expectations
with regard to the future impact on the company's results from new
products in development are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The results anticipated by any or all of these forward-looking statements
may not occur.
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