Banking $$$$$$
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Took a little solf, as i expect earnings for all solars to be good.
Took some asti 7.80s and tsl looking good as well.
ASTI nice swing setting up looking for entry
Thanks baron, yes we need more small cap people to contribute.
I don't care big or small as long as we make $.
Now china stocks got beaten uptoday, But CAEI is international more so then ever, with 68% of the 240 mil and only 32% in china of revs. Now as i understand it this trend is to continue going forward with the 400 mil. Gross profit margins 30-35% looks great long as they keep going for higher margin potential with the international orders. Also expect additional increase backlogs from Dubai and middle east, where the cost of taxes is less.
I think we will see this jump right back up in the teens in the short term.
Yea i expect analyst upgrade. 300-400 mil more to be added to backlog, and possible another 100 mil. So expect Second half revenues to almost double first half.
Another 300-400 mil coming on the backlog. Its just a matter of time before the stock prices has to play catch up with the fundamentals. 113% revenue increase this stock trades at extremely cheap p/e for a growth stock. With future growth to sequentially increase, im adding to my long position while still cheap. Any thing under 15 is cheap seats for going forward.
I Imagine we see analyst upgrade any minute?
Yep you too i'm out of here.
Will do Gboy
Nice job cya later
=]like to see it break 1.00
CAEI about to break easy double swing check fundamentals and chart.
listen to Caei dont get shaken out of this long 400 mil backlog
adding
dumb traders out great long entry with these numbers stock is a 50 dollar stock with a pe of 30. And next qs guidance up
woosh =]
CC coming 11 oclock using dips to add long
CC coming 11 oclock using dips to add long
China Architectural Engineering Announces Sharp Rise for Second Quarter 2008
China Architectural Engineering Announces Sharp Rise for Second Quarter 2008
Monday August 11, 9:00 am ET
Revenues Exceed Prior Guidance as Company Continues Rapid Expansion into International Markets
ZHUHAI, China & LOS ANGELES--(BUSINESS WIRE)--China Architectural Engineering, Inc. (CAE) (NASDAQ:CAEI - News), a leader in the design, engineering, fabrication and installation of high-end building envelope systems, today reported record financial results for its second quarter ended June 30, 2008.
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Revenues for the quarter totaled $41.38 million, up 113% from $19.45 million in the second quarter of 2007. The second quarter 2008 figure not only was a record for the Company, but it also sharply exceeded earlier guidance, provided on June 10, 2008, of $32 million to $35 million. CAE attributed the sharp revenue increase both to continued robust business growth in its home market of China and rapid expansion in new markets such as the Middle East and the U.S.
Net income for the second quarter of 2008 was $7.58 million, or $0.14 per fully diluted share, up 75% on a per-share basis from $4.28 million, or $0.08 per fully diluted share, in the second quarter of 2007. The second-quarter 2008 net income is near the high end of earlier guidance for net in the range of $6.7 million to $7.8 million.
During the second quarter, the Company was awarded its first U.S. project, an $11.6 million contract to supply and install the curtain wall for a 21-story luxury condominium building in New York City. It also was awarded a $15 million contract to design, construct and install curtain wall systems for the “Silicon Valley” development in Guangzhou, China, and it began recognizing revenues from contracts, awarded in the first quarter, to design, engineer, fabricate and install external envelopes for stations of the Dubai Metro System’s Red Line.
International Growth Strategy Expected to Accelerate Expansion
Ken Yi Luo, China Architectural Engineering’s Chairman and CEO, commented, “The strong results in the second quarter of 2008 show how rapidly CAE is gaining market share in the most vibrant construction markets of the world, including China, the Persian Gulf and the United States. This quarter saw us reach a pair of important milestones – the establishment of our U.S. operation, led by construction industry veteran John Anderson, and the winning of our first U.S. contract. We also started recognizing revenues from our previously-announced Dubai Metro System project. As our global business continues to grow into the third quarter and beyond, we see 2008 shaping up as a true breakthrough year for CAE and our shareholders.”
For the first six months of 2008, CAE revenues totaled $66.73 million, up 97% from $33.88 million in the first six months of 2007. Net income for the first six months of 2008 was $12.75 million, or $0.24 per fully diluted share, up 100% on a per-share basis from $5.97 million, or $0.12 per fully diluted share, in the first six months of 2007.
April 2008 Financing Boosts Cash Position
On the balance sheet, the Company reported cash and cash equivalents of $17.76 million on June 30, 2008, up from $4.04 million on December 31, 2007. The increase was due primarily to a $20 million financing transaction package, completed in April 2008, involving a group of investors including ABN AMRO N.V. and CITIC Allco Investments Ltd. (an investment fund managed by CITIC Capital Finance Ltd., a leading China focused investment management firm under the umbrella of the CITIC Group).
Company Expects Record Third Quarter Results; Expects Significant Increase in Backlog in Second Half 2008
CAE also today reported guidance for the third quarter ending September 30, 2008. It projects revenues for the quarter ranging from $45 million to $53 million, or at least 66% above revenues of $27.1 million in the third quarter of 2007. It projects net income of $8.0 million to $10.0 million, or $0.14 to $0.18 per fully diluted share, up at least 156% from $3.13 million, or $0.06 per fully diluted share, in the third quarter of 2007.
The total backlog of projects expected to produce revenue as of June 30, 2008 now stands at $240 million, up from $208 million in the March report. The Company noted that this backlog figure is expected to increase significantly in the second half based on its current short-term sales pipeline of potential new large contract awards.
CAE defines backlog as the total anticipated revenue from projects already begun and upcoming projects for which contracts have been signed or awarded pending final signing. CAE views backlog as an important statistic in evaluating its level of sales activity and short-term sales trends in its business. It also cautions that backlog is only one indicator and not the most effective indicator of the ultimate profitability of its revenues.
To be added to China Architectural Engineering’s investor lists, please contact Haris Tajyar at htajyar@irintl.com or at 818-382-9702.
About China Architectural Engineering
China Architectural Engineering, Inc. (CAE) (NASDAQ: CAEI - News), which began operations in 1992, has maintained a leading position in the global commercial construction industry by providing timely, high-quality, reliable, fully integrated and cost-effective service solutions to its clients utilizing specialized technical expertise in the design, engineering, fabrication and construction of structural exterior cladding systems. It specializes in high-end curtain wall systems (including glass, stone & metal curtain walls), roofing systems, steel construction systems, eco-energy saving building conservation systems and related products, for public works and commercial real estate projects.
CAE has worked with world-renowned architects and building engineers from China and other countries and has completed over 100 large, complex and unique projects throughout China, Hong Kong, Macau, Australia and Southeast Asia, including numerous award-winning landmark buildings in many of Asia's major cities. It is now capitalizing on its industry-leading expertise by expanding aggressively beyond China into some of the most active construction markets in the world, including the Middle East, Central Asia, United States and Eastern Europe.
For further information on China Architectural Engineering please visit www.caebuilding.com.
Forward Looking Statements: In addition to historical information, the statements set forth above include forward-looking statements that may involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, uncertainty of contract negotiations and payments under existing contracts, the Company’s dependence on government contracts, changes in the laws of the PRC that affect the Company’s operations, fluctuation and unpredictability of costs related to the Company’s products and services, the Company’s dependence on the steel and aluminum markets, reduction or reversal of the Company’s recorded revenue or profits due to “percentage of completion” method of accounting and expenses and costs associated with the issuance of convertible bonds. The forward-looking statements are also identified through use of the words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including regulatory approval requirements and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company’s reports and other filings with the Securities and Exchange Commission.
CHINA ARCHITECTURAL ENGINEERING, INC.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2008 AND 2007
(STATED IN US DOLLARS)
Three Months Ended
June 30, Six Months Ended
June 30,
2008 2007 2008 2007
Contract revenues earned $ 41,380,189 $ 19,453,645 $ 66,729,495 $ 33,883,737
Cost of contract revenues earned (28,038,332 ) (11,961,163 ) (44,942,086 ) (23,493,770 )
Gross profit $ 13,341,857 $ 7,492,482 $ 21,787,409 $ 10,389,967
Selling, general and
administrative expenses (4,590,147 ) (1,689,696 ) (7,590,572 ) (2,564,071 )
Income from operations $ 8,751,710 $ 5,802,786 $ 14,196,837 $ 7,825,896
Interest income 35,242 - 42,205 3,637
Interest expense (1,197,889 ) (572,379 ) (1,532,026 ) (576,459 )
Other income 39,440 - 150,602 -
Income before taxation $ 7,628,503 $ 5,230,407 $ 12,857,618 $ 7,253,074
Income tax (69,613 ) (937,630 ) (116,980 ) (1,264,678 )
Equity loss and minority interests 18,893 (14,277 ) 10,863 (14,277 )
Net income $ 7,577,783 $ 4,278,500 $ 12,751,501 $ 5,974,119
Earnings per share:
Basic $ 0.15 $ 0.09 $ 0.25 $ 0.12
Diluted $ 0.14 $ 0.08 $ 0.24 $ 0.11
Weighted average shares outstanding:
Basic 51,812,477 50,000,000 51,832,946 50,000,000
Diluted
55,549,949
59,588,586
55,550,770
54,794,293
CHINA ARCHITECTURAL ENGINEERING, INC.
UNAUDITED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2008 AND DECEMBER 31, 2007
(STATED IN US DOLLARS)
June 30,
2008
December 31,
2007
ASSETS
Current assets
Cash and cash equivalents $ 17,763,812 $ 4,040,168
Restricted cash 96,808 595,016
Contract receivables, net 66,379,142 13,047,559
Costs and earnings in excess of billings 25,957,723 57,488,693
Job disbursements advances - 2,454,106
Tender and other site deposits - 83,046
Other receivables 13,806,200 6,640,865
Inventories 379,441 528,743
Deferred income taxes 2,383 -
Other current assets 1,164,204 109,533
Total current assets 125,549,713 84,987,729
Non-current assets
Plant and equipment, net 3,410,794 2,582,554
Intangible Assets 5,130 70,386
Organization cost - 92,741
Goodwill 7,995,896 7,995,896
Other non-current asset - 7,505
TOTAL ASSETS $ 136,961,533 $ 95,736,811
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Short-term bank loans $ 1,155,390 $ 2,578,550
Accounts payable 24,570,686 18,737,771
Billings in excess of costs and earnings 2,029,965 757,079
Amount due to shareholder 1,319,991 1,334,856
Other payables 6,519,213 9,193,186
Income tax payable 2,685,582 2,673,643
Business and other taxes payable 3,281,436 3,538,336
Other Accrual 1,282,048 499,684
Total current liabilities 42,844,311 39,313,105
Non-current liabilities
Long term bank loans $ 1,839,440 $ 443,881
Convertible bond payable, net 24,924,040 3,465,741
Minority interest 20,706 49,482
TOTAL LIABILITIES $ 69,628,497 $ 43,272,209
STOCKHOLDERS’ EQUITY
Preferred stock, $0.001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2008 and December 31, 2007; Common stock, $0.001 par value, 100,000,000 shares authorized, 51,885,446 and 51,783,416 shares issued and outstanding at June 30, 2008 and December 31, 2007, respectively $ 51,886 $ 51,784
Additional paid in capital 21,656,684 23,665,558
Statutory reserves 3,040,595 3,040,595
Accumulated other comprehensive income 6,018,534 1,892,829
Retained earnings 36,565,337 23,813,836
67,333,036 52,464,602
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 136,961,533 $ 95,736,811
Contact:
At Investor Relations Intl:
Haris Tajyar, Managing Partner
818-382-9702
htajyar@irintl.com
Source: China Architectural Engineering, Inc.
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http://biz.yahoo.com/bw/080811/20080811005637.html?.v=1
CAEI>China Architectural Engineering Announces Sharp Rise for Second Quarter 2008
Monday August 11, 9:00 am ET
Revenues Exceed Prior Guidance as Company Continues Rapid Expansion into International Markets
ZHUHAI, China & LOS ANGELES--(BUSINESS WIRE)--China Architectural Engineering, Inc. (CAE) (NASDAQ:CAEI - News), a leader in the design, engineering, fabrication and installation of high-end building envelope systems, today reported record financial results for its second quarter ended June 30, 2008.
ADVERTISEMENT
Revenues for the quarter totaled $41.38 million, up 113% from $19.45 million in the second quarter of 2007. The second quarter 2008 figure not only was a record for the Company, but it also sharply exceeded earlier guidance, provided on June 10, 2008, of $32 million to $35 million. CAE attributed the sharp revenue increase both to continued robust business growth in its home market of China and rapid expansion in new markets such as the Middle East and the U.S.
Net income for the second quarter of 2008 was $7.58 million, or $0.14 per fully diluted share, up 75% on a per-share basis from $4.28 million, or $0.08 per fully diluted share, in the second quarter of 2007. The second-quarter 2008 net income is near the high end of earlier guidance for net in the range of $6.7 million to $7.8 million.
During the second quarter, the Company was awarded its first U.S. project, an $11.6 million contract to supply and install the curtain wall for a 21-story luxury condominium building in New York City. It also was awarded a $15 million contract to design, construct and install curtain wall systems for the “Silicon Valley” development in Guangzhou, China, and it began recognizing revenues from contracts, awarded in the first quarter, to design, engineer, fabricate and install external envelopes for stations of the Dubai Metro System’s Red Line.
International Growth Strategy Expected to Accelerate Expansion
Ken Yi Luo, China Architectural Engineering’s Chairman and CEO, commented, “The strong results in the second quarter of 2008 show how rapidly CAE is gaining market share in the most vibrant construction markets of the world, including China, the Persian Gulf and the United States. This quarter saw us reach a pair of important milestones – the establishment of our U.S. operation, led by construction industry veteran John Anderson, and the winning of our first U.S. contract. We also started recognizing revenues from our previously-announced Dubai Metro System project. As our global business continues to grow into the third quarter and beyond, we see 2008 shaping up as a true breakthrough year for CAE and our shareholders.”
For the first six months of 2008, CAE revenues totaled $66.73 million, up 97% from $33.88 million in the first six months of 2007. Net income for the first six months of 2008 was $12.75 million, or $0.24 per fully diluted share, up 100% on a per-share basis from $5.97 million, or $0.12 per fully diluted share, in the first six months of 2007.
April 2008 Financing Boosts Cash Position
On the balance sheet, the Company reported cash and cash equivalents of $17.76 million on June 30, 2008, up from $4.04 million on December 31, 2007. The increase was due primarily to a $20 million financing transaction package, completed in April 2008, involving a group of investors including ABN AMRO N.V. and CITIC Allco Investments Ltd. (an investment fund managed by CITIC Capital Finance Ltd., a leading China focused investment management firm under the umbrella of the CITIC Group).
Company Expects Record Third Quarter Results; Expects Significant Increase in Backlog in Second Half 2008
CAE also today reported guidance for the third quarter ending September 30, 2008. It projects revenues for the quarter ranging from $45 million to $53 million, or at least 66% above revenues of $27.1 million in the third quarter of 2007. It projects net income of $8.0 million to $10.0 million, or $0.14 to $0.18 per fully diluted share, up at least 156% from $3.13 million, or $0.06 per fully diluted share, in the third quarter of 2007.
The total backlog of projects expected to produce revenue as of June 30, 2008 now stands at $240 million, up from $208 million in the March report. The Company noted that this backlog figure is expected to increase significantly in the second half based on its current short-term sales pipeline of potential new large contract awards.
CAE defines backlog as the total anticipated revenue from projects already begun and upcoming projects for which contracts have been signed or awarded pending final signing. CAE views backlog as an important statistic in evaluating its level of sales activity and short-term sales trends in its business. It also cautions that backlog is only one indicator and not the most effective indicator of the ultimate profitability of its revenues.
To be added to China Architectural Engineering’s investor lists, please contact Haris Tajyar at htajyar@irintl.com or at 818-382-9702.
About China Architectural Engineering
China Architectural Engineering, Inc. (CAE) (NASDAQ: CAEI - News), which began operations in 1992, has maintained a leading position in the global commercial construction industry by providing timely, high-quality, reliable, fully integrated and cost-effective service solutions to its clients utilizing specialized technical expertise in the design, engineering, fabrication and construction of structural exterior cladding systems. It specializes in high-end curtain wall systems (including glass, stone & metal curtain walls), roofing systems, steel construction systems, eco-energy saving building conservation systems and related products, for public works and commercial real estate projects.
CAE has worked with world-renowned architects and building engineers from China and other countries and has completed over 100 large, complex and unique projects throughout China, Hong Kong, Macau, Australia and Southeast Asia, including numerous award-winning landmark buildings in many of Asia's major cities. It is now capitalizing on its industry-leading expertise by expanding aggressively beyond China into some of the most active construction markets in the world, including the Middle East, Central Asia, United States and Eastern Europe.
For further information on China Architectural Engineering please visit www.caebuilding.com.
Forward Looking Statements: In addition to historical information, the statements set forth above include forward-looking statements that may involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, uncertainty of contract negotiations and payments under existing contracts, the Company’s dependence on government contracts, changes in the laws of the PRC that affect the Company’s operations, fluctuation and unpredictability of costs related to the Company’s products and services, the Company’s dependence on the steel and aluminum markets, reduction or reversal of the Company’s recorded revenue or profits due to “percentage of completion” method of accounting and expenses and costs associated with the issuance of convertible bonds. The forward-looking statements are also identified through use of the words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including regulatory approval requirements and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company’s reports and other filings with the Securities and Exchange Commission.
CHINA ARCHITECTURAL ENGINEERING, INC.
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2008 AND 2007
(STATED IN US DOLLARS)
http://biz.yahoo.com/bw/080811/20080811005637.html?.v=1
Will watch gl too you man
Good work, Caei gapping up pre market
Thanks breakout for the informative post, thats quality research will look into them.
Tia
Saturday morning coffee and stock scans, some of my favorite things.
Hey you still there? Wake up! $$$$$$=]
Wow, that one totally caught me off guard. I didn't realize today was earnings news, when i looked at the chart it wasn't giving any hint of a catalyst.
2q loss but core results strong. Good gamble. Whats your entry you green>?
Some might say a double bottom
now the hammer was formed 1.29 we had a 1.28 print today after the stock was upgraded i think shorty got pissed and knocked it down to cover some. Though there was a new bottom hit today, the difference is minute and the hammer candle is doing its job. This should be bottom area when going forward.
Amd up over a buck since the call on this board, might have a short top dip here as its losing a little steam in the interim. Maybe sell half, look at picking some back up if it dips. Now if it doesn't dip at least you will be still be participating in the run.
5.76 5.50 you got some resistance.
Like to 16 next week, great company.
Thanks, not just me lot of good traders hanging there hate here now, glad to have you here.
xoxo
You too weazie its friday night., Can you give me a 1 yr of caei next to the other chart, want you to see the bigger picture.
Yep more next week.
Thank you sir.
I think theres under 10 in the float since it went nasdaq, and new symbol they don't have the float info updated, but i believe it under 10 mil. The shorts interest is 2.5 mil so with good earnings we will see nice dollars moves. The chart tells you that perfect setup, and has the potential to test previous all time highs in the 20s.
Thanks weazel, thanks for sharing the premium stock charts account, you the man. I love this board too, so right back at you.
gdwknd.
Yes there not awake they will be next 2.5 mil covers coming
Ok but man i hate to remove the old charts? But please put date along with when we put a chart in, some very nice picks here lets date it.