TraiThien USA Comments on Profitable First Quarter 2011 with 32% Revenue Increase
HO CHI MINH CITY, VIETNAM –July 7, 2011 -- Trai Thien USA (OTCMarkets: TRTH) management today discussed the results of its first quarter2011 financial results. Revenues for thequarter through 31 March increased 32.8% to $3,869,986 as compared to$2,913,249 in the first quarter 2010. Net Income also increased significantlyfrom $871 in Q1 2010 to $420,715 in Q1 2011.
Khanh Nguyen, Chairman &President of Trai Thien USA, commented, “The upticks on our overall Revenuesand Net Income for the first quarter 2011, as compared to last year, reflect animproving operating environment and the effectiveness of our strategy ofconcentrating on niche shipping markets. As the overall global economy continues to recover, and especially asthe Southeast Asia shipping market regains its vitality, we expect that TraiThien’s business results will continue to improve relative to 2010.”
AboutTrai Thien USA
Trai Thien USA is a fast-growing Vietnam-based dry bulk shippingcompany operating a 21,990 DWT fleet comprised of six geared bulk vesselsspecialized in providing ocean transportation services for raw material inputitems such as coal, ore, grain, lumber, cement, steel and fertilizer throughoutthe Southeast Asia region. In order to meet anticipated continued growth indemand from an expanding base of overseas and domestic Vietnamese customers, aswell as to expand the geographic regions that it can service to includepotentially more profitable routes in East and South Asia, Trai Thien has madedeposits to acquire six larger 7600 DWT capacity new-buildings, which dependingon the company’s ability to meet additional capital resource requirements, areexpected to be delivered in 2011 and 2012.
Safe Harbor Statement: UnderThe Private Securities Litigation Reform Act of 1995: Except for historicalinformation contained herein, the statements in this news release areforward-looking statements that are made pursuant to the safe harbor provisionsof the Private Securities Act of 1995. Forward-looking statements involve knownand unknown risks and uncertainties, which may cause a company's actualresults, performance and achievement in the future to differ materially fromforecasted results, performance, and achievement. These risks and uncertaintiesare described in the Company's periodic filings with the Securities andExchange Commission. The Company undertakes no obligation to publicly releasethe results of any revisions to these forward-looking statements that may bemade to reflect events or circumstances after the date hereof, or to reflectthe occurrence of unanticipated events or changes in the Company's plans orexpectation.