Sino Gas Intl (SGAS) – Comments & Business Outlook

Monday, November 19, 2012 19:12

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Consolidated Statements of Income

For the three months and nine months ended September 30, 2012 and 2011

(Stated in US Dollars)

		Three Months Ended						Nine Months Ended
	Note	9/30/2012			9/30/2011			9/30/2012			9/30/2011
Sales revenue	2(p)	$	11,427,105		$	13,603,978		$	33,000,374		$	29,465,400
Cost of revenue			5,728,802			7,106,537			20,268,632			18,144,581
Gross Profit			5,698,303			6,497,441			12,731,742			11,320,819

Operating Expense
Selling expense			874,965			612,231			2,390,600			1,690,383
General and administrative expense			1,421,384			1,225,660			3,505,514			3,411,716
Total operating expense			2,296,349			1,837,891			5,896,114			5,102,099

Operating Income			3,401,954			4,659,550			6,835,628			6,218,720

Other Income/(Expense)
Other income			33,795			108,353			68,493			108,697
Other expense			(100,868	)		(178,031	)		(227,962	)		(225,251	)
Impairment loss			-			(787,255	)		-			(787,255	)
Interest income			38,275			12,567			194,240			18,095
Interest expense			(666,589	)		(654,552	)		(2,292,354	)		(1,617,961	)
Total other income/(expense)			(695,387	)		(1,498,918	)		(2,257,583	)		(1,387,772	)

Income before tax			2,706,567			3,160,632			4,578,045			4,830,948
Income tax	2(r),12		(838,612	)		(949,881	)		(1,168,051	)		(1,304,364	)
Gain/(Loss) from discontinued operations, net of tax			-			-			-			105,093

Net income		$	1,867,955		$	2,210,751		$	3,409,994		$	2012-11-19 19:00:43 Source: http://geoinvesting.com/companies/sgas_sino_gas_intl/research/comments_business_outlook/0040775

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