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STEN Corporation Reports 2008 Third-Quarter Revenue of $5 Million and Improved Results From Operations
Date:8/13/2008

MINNEAPOLIS, Aug. 13 /PRNewswire-FirstCall/ -- STEN Corporation (Nasdaq: STEN), a Minneapolis-based diversified business, today reported results for its third fiscal quarter thirteen-week period ended June 29, 2008. The Company reported a net after-tax loss of $292,011 or $(.12) per diluted share for the third quarter period ended June 29, 2008. Revenues for the thirteen-week period ended June 29, 2008 were $5,035,913, an increase of 377 percent, or $3,979,309 from $1,056,604 for comparable period one year ago. The third quarter loss per share represented an improvement of $.08 per share from the second quarter of fiscal 2008. The Company's Stencor business accounted for $556,411, or 11%, of total revenue and the STEN Financial unit, including retail vehicle sales, contributed $4,479,502 in revenue for the third-quarter period ended June 29, 2008. The Company reported a net loss of $1,595,866 or $(.65) per diluted share for the thirty-nine weeks ended June 29, 2008. The loss in the third quarter ended June 29, 2008 resulted from costs associated with third-party auto dealer customers on business arrangements no longer utilized by the company. Also, following the end of the third quarter, STEN completed the sale of four retail check cashing and loan stores and therefore the results of this business and its disposition are reflected as discontinued operations.

Commenting on the third quarter and the current outlook, Kenneth Brimmer, CEO, noted, "We continue to make progress. The repositioning of our auto finance business to a focus on company-initiated finance contracts is delivering encouraging results. The recent sale of our check cashing business will allow us to focus on our core activities. As we look ahead to fiscal 2009, we wi
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SOURCE STEN Corporation
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