Sterling News

Sterling Holds 2007 Global Conference

June 2007

Sterling held its 2007 Global conference at the Xihu State House in Hangzhou this past April. Key management personnel from the Sterling profit centers in Shanghai, Beijing, Suzhou, Nanjing, Tianjin, Tokyo, Singapore, Seoul, London, Hanoi and the USA participated in the three day conference.

Bob Macdonald, President and CEO of Sterling in his state of the company message announced that global sales revenues and EBIT for the year 2006 exceeded those of 2005 by 34% and predicted similar increases in 2007 through 2009. China operations experienced a 42% increase in sales revenues and EBIT from 2005 to 2006 partly as a result of the expansion to Suzhou and Nanjing.

Sales revenues and EBIT for the quarter ending April 30, 2007 showed an increase of 34% over the same period in 2006 directly in line with the company's projections.
The company plans to open one more office in China and one in Vietnam in 2007.

Conservative leadership has kept the Company debt free even though it has opened new off ices and expanded its Shanghai and Beijing offices. The Company is cash flow positive and well positioned to take advantage of the Asia boom.