BOCA RATON, Fla., Aug. 30, 2007 (PRIME NEWSWIRE) -- Silverstar Holdings Ltd. (Nasdaq:SSTR), a leading international publisher and developer of interactive entertainment software, reported today the company has been invited to present at the annual Roth Capital Partners New York Stock Conference to be held on September 5 and 6, 2007 at the Westin New York at Times Square.
Roth Capital Partners Stock Conferences are one of the largest in the nation for micro and small-cap companies in technology, healthcare, financial services and consumer products sectors. More than 1,000 institutional investors are expected to attend.
Silverstar's CEO Clive Kabatznik and Joe Abrams, chairman of Empire Interactive, are scheduled to present on Wednesday, September 5 at 1:30 P.M. Eastern Time. A simultaneous Webcast will be available at http://www.wsw.com/webcast/roth13/sstr.
Management will discuss the contribution and progress made by leading game producer, Empire Interactive, since it was acquired by Silverstar in late 2006. Empire's FlatOut Ultimate Carnage for the Xbox 360 has been at the top of the charts, which will soon be followed by more high-profile release like Jackass, Hello Kitty, Pipe Dreams, Disciples III and Ford Off Road Racing. Management will outline how the unique strengths of the company's European distribution channels and new North American sales force will monetize the value of its large back catalog and support the release of more than 50 new titles over the next 12 months.
Silverstar recently reported it expects to exceed management's guidance on EBITDA for the fourth quarter ended June 30, 2007. EBITDA is estimated to range between $4.0 million and $4.4 million for the quarter, or between $0.40 and $0.44 per diluted share, as compared to a negative EBITDA of $1.8 million or ($0.19) per diluted share in the year ago quarter. This compares to previously issued fourth quarter EBITDA guidance of between $2.5 million and $3.8 million.
The company expects revenues for the fourth quarter to range between $11.5 million to $11.9 million, as compared to $467,000 in the fourth quarter of 2006. This falls within the range of previous guidance of $10.5 million to $12.5 million.
Operating income is expected between $1.6 million and $1.9 million, or $0.15 to $0.18 per diluted share, as compared to a year-ago fourth quarter loss from continuing operations of $2.4 million or $(0.25) per share. This is near or exceeds the higher end of the company's earlier guidance for operating income of $0.4 million to $1.7 million.
Per share calculations of the fourth quarter's results are based on an estimated 10.4 million diluted shares. These preliminary results and estimates are subject to a final audit and filing of its annual report in Form 10-K. Company management plans to hold a conference call in late September to discuss the complete fourth quarter and full year results, as well as its outlook for fiscal 2008.
For more information on the Roth conference, please visit the conference website at http://rothconference.com or call the conference desk at 800-678-9147. For media inquiries and press credentials only call 949-720-5700.
About Roth Capital Partners, LLC
With corporate headquarters in Newport Beach, California and offices in strategic locations in the Western United States and Shanghai, China, Roth Capital Partners, LLC is a full service investment bank serving corporate and institutional clients throughout the world. Offering a wide array of investment banking services including: initial public offerings, follow-ons, PIPEs, private placements, mergers and acquisitions, investment research, and institutional sales and trading, the firm is perhaps best known for finding, funding and fostering the growth of emerging companies. It is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"), and the Securities Investor Protection Corporation (SIPC). Visit the Roth Capital Partners website at www.roth.com.
About Silverstar Holdings
Silverstar Holdings Ltd. is a leading international publisher and developer of interactive entertainment software. The company owns Empire Interactive PLC and Strategy First Inc. a leading developer and worldwide publisher of entertainment software for the PC. For more information about Silverstar Holdings visit http://www.silverstarholdings.com.