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China Advanced (CADC) – Comments & Business Outlook
First Quarter FY 2013 Financial Highlights
- Revenue reduced 31% year over year to $30.8 million
- Gross margin at 23.8%
- Net loss of $5.4 million or EPS of ($0.30) vs. last years $0.17.
- Guidance for second quarter of fiscal year 2013 – For the second quarter of fiscal year 2013, the Company expects to earn revenue of between $37 million and $42 million, net income (loss) to be between $(2.5 million) and $0.5 million, and EPS between $(0.14) and $0.03, respectively.
- Update of full year guidance for fiscal year 2013 – For the entire year of fiscal year 2013, the Company expects to earn revenue of between $137 million and $148 million, net income (loss) to be between $(2.5 million) and $2.5 million, and EPS between $(0.14) to $0.14, respectively.
Mr. Xianfu Han, Chairman and Chief Executive Officer of China ACM, commented, “Although we experienced a year-over-year decrease in revenue growth for the first quarter of FY 2013, such decrease was principally due to the suspension of some portable plants. In order to curtail future losses, we will continue our efforts to improve the collection of account receivables, expand our plant network, and increase our client base for the rest of the year. We are cautiously optimistic that we will be able to reduce our losses during the next quarter and the rest of the year.”
The Second Quarter and Full Year Guidance Fiscal Year 2013:
For the second quarter ended December 31, 2012, management expects to earn revenue of between $37 million and $42 million, recognize net income (loss) of between $(2.5 million) and $0.5 million, and EPS of between $(0.14) and $0.03 based on weighted average shares of 17.83 million.
For the fiscal year ending June 30, 2013, the Company updates the full year guidance as follows: The Company expects to earn revenue of between $137 million and $148 million, recognize net income (loss) of $(2.5 million) to $2.5 million, and EPS of $(0.14) to $0.14 based on weighted average shares of 17.83 million.
2012-11-19 19:00:49
Source: http://geoinvesting.com/companies/cadc_china_advanced/research/comments_business_outlook/0040733
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