Press Releases for Odinsdagrting [ODNDT].

Monday, March 1, 2010

Monthly Statement, February 2010

Sales continue to grow.

February saw 1,447,028,349.56 in total sales with net sales of 633,546,589.60 ISK. The continued steady growth in sales, and of Odinsdagrting, surprises me month after month. I am optimistic that March will be bigger still.

While the raw number of 1.4 Billion in sales is impressive. There is some good and bad news around that. The good news is, that was done in the short month of February, with the last two weeks of the month disrupted by moves.

The bad news is, production and invention were, and continue to be, negatively impacted. Odinsdagrting began a move from Alf to Eram. Just as we were settling into Eram, it was decided we could better integrate with and help the United Trade Syndicate if we moved to Essence. ODNDT now has its headquarters in Yona.

February saw use of an incentive to have others haul raw materials to our production facility. As a result, the corporation now pays five to ten percent above market prices for raw materials. This does cut into profits, but margins are large enough to absorb this. An incentive being introduced in March will be paying for research and manufacturing slots. Again, this should be small enough to be absorbed by the margins. It will be factored in before the dividend is determined.

As to the dividend for February, it was an impressive 98,991.65 ISK per share. That is a 19.80% return on the par value of the stock and a 12.03% return on the current book value of the stock of 822,662.76 ISK.

The company has a whole grew by 10.19% to a net value of 2,632,520,818.97 ISK.

The planned stock issuing has been postponed. We will have a second stock offering, but we've decided to wait until we are ready to spin up a second production line. This will not be during March.