STEN CORPORATION 
By
Commenting on the results,
The Company also announced that its Board of Directors has approved
extending the expiration date of its 359,983 outstanding common stock purchase
warrants that were originally scheduled to expire on
STEN Corporation and subsidiaries, headquartered in Minnesota, is a
diversified business, primarily focused on its financing business through STEN
Financial Corporation. The Company's Stencor subsidiary is a contract
manufacturing business and distribution business based in
STEN Corporation common stock is traded on the Nasdaq Capital Market under the symbol STEN. More information about STEN Corporation is available at the Company's website: http://www.stencorporation.com. Except for historical information contained herein, the disclosures in this news release are forward-looking statements that could be affected by certain risks and uncertainties, and actual results may differ materially, depending on a variety of factors. These risks are described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no duty or obligation to update any of the forward-looking statements after the date of this release.
STEN CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
For the thirteen weeks For the thirteen weeks
ended ended
December 30, 2007 December 31, 2006
REVENUES
Stencor sales $ 328,066 $ 284,083
Vehicle sales, interest,
and other 1,726,475 360,605
TOTAL REVENUES 2,054,541 644,688
COST AND EXPENSES
Costs of goods sold related
to Stencor 386,685 359,702
Expenses related to STEN
Financial
Cost of autos sold 827,198 393
Salaries and benefits 417,386 173,327
Occupancy and operation
expenses 275,671 183,170
Depreciation and
amortization 99,159 55,618
Provision for credit
losses 510,632 33,701
Interest expense 604,273 6,744
Selling, general and
administrative 216,021 217,781
TOTAL COST AND EXPENSES 3,337,025 1,030,436
Loss from Continuing
Operations Before
Income Taxes (1,282,484) (385,748)
BENEFIT FROM INCOME TAXES 480,900 146,528
NET LOSS FROM CONTINUING
OPERATIONS (801,584) (239,220)
Loss from Discontinued
Operations 0 (24,040)
Benefit from income
taxes from Discontinued
Operations 0 6,672
Loss from discontinued
operations 0 (17,368)
NET LOSS $ (801,584) $ (256,588)
NET LOSS PER SHARE FROM
CONTINUING OPERATIONS:
Basic $ (0.35) $ (0.12)
Diluted $ (0.35) $ (0.12)
NET INCOME (LOSS) PER SHARE
FROM DISCONTINUED
OPERATIONS:
Basic $ 0.00 $ (0.01)
Diluted $ 0.00 $ (0.01)
NET LOSS PER SHARE:
Basic $ (0.35) $ (0.13)
Diluted $ (0.35) $ (0.13)
WEIGHTED AVERAGE COMMON AND
COMMON EQUIVALENT SHARES
OUTSTANDING
Basic 2,295,138 1,990,878
Diluted 2,295,138 1,990,878
STEN CORPORATION AND SUBSIDIARIES
CONDENSED BALANCE SHEETS
ASSETS
December 30, September 30,
2007 2007
(unaudited) (audited)
CURRENT ASSETS
Cash, cash equivalents $ 580,681 $ 366,118
Current portion of loans receivable,
net 2,796,210 2,851,529
Other current assets 3,933,887 3,337,519
Total Current Assets 7,310,778 6,555,166
PROPERTY AND EQUIPMENT, NET 1,255,750 1,293,618
OTHER ASSETS
Intangible assets, net 1,678,663 1,750,042
Loan receivable, net of current
portion 3,892,723 4,487,466
Other Assets 3,528,782 3,226,387
Total Other Assets 9,100,168 9,463,895
TOTAL ASSETS $ 17,666,696 $ 17,312,679
LIABILITIES AND STOCKHOLDERS' EQUITY
TOTAL CURRENT LIABILITIES
Line of credit, bank $ 0 680,000
Current portion of long term debt 3,392,772 2,886,265
Other current liabilities 2,336,888 2,791,762
Total Current Liabilities 5,729,660 6,358,027
LONG-TERM LIABILITIES
Dealer reserves 368,419 1,076,707
Long-term debt, net of current
portion 5,884,067 4,457,458
TOTAL LIABILITIES 11,982,146 11,892,192
TOTAL STOCKHOLDERS' EQUITY 5,684,550 5,420,487
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ 17,666,696 $ 17,312,679
NET BOOK VALUE PER SHARE $ 2.47 $ 2.72
SOURCE STEN Corporation
