DRGV Dragon Capital Group Corp (PK)

Stock Market Alerts' performance stock list includes: Dragon Capital Group Corp. (PINKSHEETS: DRGV), Microsoft Corp (NASDAQ: MSFT), Nokia Corporation (NYSE: NOK) and Baidu Inc. (NASDAQ: BIDU).

This morning, Dragon Capital Group (PINKSHEETS: DRGV), a leading holding company of emerging high-tech companies in China, announced that its subsidiary issued a press release announcing its financial results for the first quarter ended March 31, 2010.

According to the release, revenue for the first quarter ended March 31, 2010 was $12.4 million, a 4% increase over the $11.9 million recorded in the first quarter of 2009. Cost of goods sold for the second quarter of 2010 were $11.6 million compared to $11.3 million in the second quarter of 2010. Gross margins improved to 6.4% in the first quarter ended March 31, 2010, up from 5.2% in the first quarter of 2009. For the first quarter ended March 31, 2010, Dragon Capital recorded a net loss that narrowed to ($151,800) as compared to a net loss of ($678,500) in the first quarter of 2009. The improvement in net results was mainly attributable to a loss from the sale of discontinued operations in the first quarter of 2009 of (709,000) partially offset by an increase of $340,000 in general and administrative expenses in the first quarter of 2010.

At March 31, 2010, total assets were $15.8 million compared to $15.2 million at December 31, 2009. At March 31, 2010, shareholder equity was $8.5 million and total current assets were $15.5 million with working capital of approximately $8.1 million as compared to December 31, 2009 where shareholder equity was $8.6 million and total current assets were $14.9 million with working capital of approximately $8.2 million.

Mr. Lawrence Wang, CEO of Dragon Capital Group, stated, "Dragon continues to post increasing sales in an environment that remains somewhat challenging. More importantly our gross margins have shown marked improvement as we continue to improve overall efficiencies. We are committed to achieving continued improvement in performance through the building of our core operations and will continue to look to opportunistically acquire new businesses and evaluate strategic alternatives for non-performing assets to further improve our operating results in the future. We continue to believe the high-tech industry within China has tremendous growth potential for the future and we remain focused on achieving improved results to increase our shareholder value."

The stock closed yesterday at a Penny a share.

For an in-depth profile of Dragon Capital Group, visit http://www.wallstreetenews.com/view-company-profiles.php?profile=DRGV_072210.

Microsoft Corp (NASDAQ: MSFT) down 0.1% on 108.5 million shares traded.

Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Nokia Corporation (NYSE: NOK) up 2.7% on 28.3 million shares traded.

At Nokia, we are committed to connecting people. We combine advanced technology with personalized services that enable people to stay close to what matters to them.

Baidu Inc. (NASDAQ: BIDU) up 4.8% on 13.3 million shares traded.

Baidu, Inc. is the leading Chinese language Internet search provider.

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