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MissionIR Blog Forum Member Posted Play, Silverstar Holdings Ltd. (NASDAQ: SSTR), Rises 93%

Silverstar Holdings announced record financial results for its fourth quarter and fiscal year, sending share prices up to a high of $4.77. Our message board member, JonnyK, posted the stock approximately four weeks ago.

Silverstar Holdings reported that its revenues totaled $12 million, which is a 161% increase from its previous quarter and a 2500% increase from last year. Net income also experienced a significant rise by increasing from a loss of $2.8 million in the previous quarter to a net income of $2.6 million.

Silverstar plans to release at least 50 SKUs during the FY 2008, and believes that revenues will surpass $40 million for the full fiscal year 2008, with operating EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) in the range of $7-10 million.

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