ATC Triples Earnings For 1998

December 2, 1998 PSE CIRCULAR FOR BROKERS NO. 2692-98 ATC TRIPLES EARNINGS FOR 1998 Alliance Technologies Corp. (ATC), a unit of publicly-listed Boulevard Holdings Inc (BHI) recently announced that sales are expected to reach a minimum of P185M to a maximum of 220M by the end of 1998. ATC president Antonio Fernando during a board meeting said gross earnings will reach the Php50M-60M level. This development will facilitate cash dividend of 20-25M from this particular unit for the year 1998 contributing to BHI's dividend yield objective of 3% on the par issue price. Fernando also disclosed to the Board that with milestone changes taking place in the Philippine telephony industry today, small companies like ATC should be able to increase market share within a short period of time. ATC is the authorized distributor of Lucent Technologies, formerly known as AT&T, in the Philippines. Sales of ATC have been growing at a remarkable 30% for the last three (3) years despite the current financial crisis. Sales are expected to grow by 80% for the year ending 1998. The increase in sales is partially due to the Y2K compliance system required by the US Government on all US multinational companies. Alliance Technologies currently services entities upgrading to the Y2K program, such as Citibank, Procter & Gamble, and other US multinational firms. The company also announced that it shall maintain its 18-month employee-pay-scheme due to its banner performance in spite of the deteriorating market conditions at the beginning of the year. cdlex Boulevard Holdings Inc. (BHI) expects earnings to top P50M for Fiscal May 99. Cash in bank from recent asset sales stands at P247M against total capitalization of P1B with one billion shares issued and outstanding. Its stock price traded at 38 centavos per share at the PSE.