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Estimated, re USOO earnings
Don't have an exact date. They came out on 3/12 last year, so we should see them any day now. If they were sitting on a blowout Q4 report, we probably would have seen them already. They pre-announced a weak Q4 last year...with no such announcement this year. That, combined with what they did in Q3, the strength in the trucking sector, and insider buying in January...makes me think we'll see some good numbers.
ZONS down to $3.11? Don't understand this recent selloff. Company still earned a fully-taxed .09/share last quarter. Solid balance sheet with tangible book value of $2.17, including .44/share in cash.
They are capable of posting Q1 earnings of .10/share, which would be a nice comp vs. last year. They did say on the last CC that there would be a $200K charge in Q1 due to Sarbanes-Oxley. I guess that's keeping me from getting too excited about the upcoming report. But even a bounce back to $4 (where the stock was a couple weeks ago) would be almost a 30% gain from here.
yield, re trading
It all depends on how badly I want the stock. I'll gladly pay the ask if I think the stock could see a nice short-term pop on some breaking news.
Doesn't appear to be any rush on MILAA. They just reported another solid quarter with Q3 fully-taxed earnings of .04/share. And Q3 is typically a weaker quarter for them. Balance sheet looks good, too.
But this stock never sees much activity. I have a small position, and am waiting to add on a dip. If I was trying to accumulate with the current 1.60 X 1.90 spread, I would probably test the waters with buy orders of between 500-1000 shares at 1.70, 1.65, and 1.60. Obviously, I place the larger orders at the lower prices. If the 1.70 executed, but not the 1.65...I might try placing orders at 1.68 and 1.66 and see if they fill.
wade, re CXTI
Unfortunately, I still own it. Market seems to trust the numbers about as much as GFCI. I keep holding because I know as soon as I sell, the stock will zoom to $2.
Was a little disappointed to hear about the new accounting firm. Not exactly Ernst & Young! Guess the numbers won't be getting credibility anytime soon...
gilead, re JMIH
I bought some more today at .29. Hard to believe the stock is so cheap with Q2 earnings of .013/share before the 1-time expense.
From what I read in the earnings PR's from MPX and FPWR, it seems they were able to raise prices in January. I imagine JMIH was able to do so about the same time, and that probably benefitted the last few weeks of Q2. We could see a full 3-month impact in Q3.
With backlog still strong and the new 38' model launched a few weeks into Q3, revenues should show a healthy sequential increase. If gross margins continue to trend higher, could be looking at a very favorable number on the bottom line. When EPS get to .015, they can round up to .02. How many sub-.30 stocks have that kind of earnings potential just 1-2 quarters away?
Actually JMIH would have posted excellent earnings if not for the 1-time loan guarantee expense of $91K. Q2 earnings would have been .013/share! I was impressed with the strong gross margins...despite the rising cost of resin. Hopefully JMIH will begin to pass along those costs as other boat manufacturers have started to do recently. Plus the new 38' model should boost sales going forward.
The stock probably would have gotten a big pop today if not for that loan guarantee expense. Still think it will move up. If not, I'll gladly pick up some more shares in the .20's.
TNSB.OB seems to be under accumulation lately. Seriously doubt they can repeat the .09/share earned in Q4. But based on strong backlog and easy comp coming up, could have a very favorable Q1 report in a few weeks. If they post Q1 earnings of .04+/share on 100% revenue growth, stock could see a nice pop from the .90's.
Tim, nice find on HSPR. I wonder why they didn't PR the good Q4 results or the deal with Home Depot? Either one probably would have sent the stock flying. Q1 sounds like it will be lousy due to the California rain, but this stock seems to have a lot of potential. Was trading at a multiple of the current price just a few months ago...before we knew about Home Depot or the solid Q4 profit. I'll be accumulating between the crazy spread.
Re-buying some RTC. Jumped to the $1.60's when they announced a sharp rebound in Q2 orders a couple weeks ago. Back in the $1.30's. Think it will drop a little lower, but based on $10.8M in Q2 orders and management's bullish comments on future orders...revenues and earnings could soon return to the levels they were at when the stock was over $3.
cleverrox, re CAMT
Considering how well they did in 2004 (revenue growth of 117%) and the sector weakness, I think 10% revenue growth in 2005 would be quite an accomplishment. They already said Q1 would be soft due to Chinese new year and a mild inventory correction. Based on recent positive news from XLNX, ALTR, NSM, ACTL, INTC, and LSI in the past week...it seems the semi sector is bottoming. So maybe the numbers will come in better than expected.
Even using the guidance for 10% annual revenue growth, if you figure $14M in Q1 revenues...that would mean an average of $20M over the remaining 3 quarters of 2005. At those revenue levels, CAMT could be posting earnings of .15+/share again by Q3...and the stock would rebound significantly.
TGIS hits $2! Yeehaw!! Strong action lately, someone seems to be accumulating...even after the 40%+ jump the last few weeks.
GMAI down near $10. Earned a fully-taxed .27/share last quarter with net income up 88% from prior year. Seasonally stronger Q3 and Q4 coming up. Could earn .30-.40/share for the next couple of quarters. Decent balance sheet with over $1/share in cash. Think the stock could move up to the $12-$14 range if Q3 is good.
Finding quite a few Nasdaq stocks to nibble on lately...XTND, CAMT, NKBS, ZONS, PTSX, etc.
Nice post, yield. Thanks for the info! eom
Re-bought some EZEN. Might be a bit early, but I think this one is headed to the low $2's in the coming months. Q4 earnings of .044/share (before tax benefit). Q4 revenues up 29%, Q4 pre-tax income up 119%. Solid balance sheet with .26+/share in cash. Bullish outlook on 2005...they're looking for .23/share in earnings from operations. On track for record bookings in Q1. Said recent Microsoft agreement would strengthen margins and profits in 2005.
tbone, great call on WTEK.OB! Up to .72 today on increased volume. Someone must think the 10Q will be good. I took some profits off the table just in case.
sskill, I'm with you on ETEC. Stock rebounded to $2 last week. Why sell at $1.40? If it takes a few months to get back to $2, it's a 40% gain from here.
footwedge, re ORFR
I tried to sell a few around $2.10 at the open. Lots of orders went through, but mine didn't. Certainly no need to panic sell at $1.70. Q4 revenues were very strong, so maybe there were some 1-time items that affected profitability. Can't tell without seeing the 10K. On the other income line, there was a loss of ($68K)...that alone may have reduced earnings by .01/share.
Balance sheet is solid with about .50/share in cash. I plan on adding if it drops a little lower in hopes of a Q1 earnings rebound. The order they announced in January should boost Q1 sales and the comp is fairly easy. If gross margins tick up and SG&A expenses come down, bottom line should look good.
Surprised EDAC pulled back to $2.40. Who could be disappointed with those numbers??? I'm not banking on .10 per quarter, but think .06+ is sustainable. Started accumulating again.
mark, re SWB
Don't know much about them. Looks like they were breakeven last quarter. With 9-month earnings of .11/share and annual guidance of .14-.17/share, they're expecting fiscal Q4 earnings of .03-.06/share. That's their seasonally strongest quarter. Considering the minimal revenue growth, stock doesn't seem undervalued at $2.29.
whyme, re VSNT
Thousands of non-value stocks go up each day. Doesn't mean they should be discussed here. There are plenty of other boards for that purpose.
So I take it you're holding into earnings? These stocks that get a pump into earnings usually drop on the news. Remember IPT? People who bought today will have high expectations. They're probably hoping VSNT will post Q1 earnings of .02+/share. Could happen...but based on what the company did in Q4, looks like a pretty slim chance. If earnings come in at the original guidance of breakeven to .01/share, doesn't seem like much upside at .90 unless the guidance is really fantastic. Revenues will be flat and earnings down from last year. And if they post a loss, today's gain will quickly be erased IMO.
footwedge, re ORFR
Q4 revenues look great, but not sure why the increase in operating expenses. Bottom line is disappointing. Still don't understand why the company goes out of their way to include a sequential comparison when it's unfavorable.
10bagger, re IPII
I'm going to wait until after the reverse split. Also curious to see how they did in Q4. Q1 and Q4 are seasonally a bit weaker for IPII, but they could have had a big Q4 with all the post-hurricane building activity.
AFPC has pulled back to 1.53 X 1.55 after hitting $1.79 recently. With earnings of .07/share last quarter before legal expenses on a 30% revenue increase, think this one is headed to the low $2's.
ANGN got a nice pop on this news. No terms disclosed, but I guess it's a big deal.
New Leaf Technology Selected by Life Time Fitness to Support Member Programming
Tuesday March 8, 3:32 pm ET
- Agreement Involves Implementation of New Leaf Diagnostic Systems Designed for the Management and Improvement of Cardio Respiratory Health
ST. PAUL, Minn., March 8 /PRNewswire-FirstCall/ -- The New Leaf Health & Fitness unit of Angeion Corporation (Nasdaq: ANGN - News) today announced it has signed an agreement with Life Time Fitness, Inc. (NYSE: LTM - News), a national operator of large and distinctive health and fitness centers, whereby New Leaf metabolic measurement technology and products will be used to support Life Time Fitness member programming nationwide. Terms of the agreement were not disclosed.
Life Time Fitness will leverage New Leaf's proprietary technology in providing its members with a personal Metabolic Assessment Profile (MAP) at rest and during exercise. The MAP provides metabolic markers that are used by Life Time Fitness in providing its members with individualized, heart rate based exercise programs designed to help achieve specific health and fitness, weight management, or athletic performance goals.
The New Leaf Active Metabolic Training(TM) System is a scientific measurement of metabolism. Unlike generalized indices, which are created based upon average body types and offer only estimates, the New Leaf system can determine the number of calories an individual can eat each day without gaining weight. The system's most distinctive feature is the ability to accurately assess an individual's metabolic response while exercising for ten minutes on any piece of cardiovascular fitness equipment, such as a treadmill, stationary bike, or elliptical machine. The system continuously monitors a person's heart rate and takes a snapshot of their aerobic fitness; caloric burn rate, fat utilization, anaerobic threshold and peak oxygen capacity, all of which contribute to overall conditioning. Based upon the resulting data, an individual is provided with guidance on how hard and how long to exercise to reach their personal fitness goals.
"We are pleased to partner with Angeion's New Leaf unit and incorporate their unique, scientifically-based technology into our fitness and nutrition programming," said Mark Thom, senior director of Fitness Research and Development, Life Time Fitness, Inc. "With this cutting-edge system in place, we look forward to further extending the individualized components of our member services, allowing them to train smarter, not harder, in pursuit of achieving their health and wellness goals."
"Life Time Fitness brings a category-redefining approach to its centers and wide range of education, exercise and nutrition services," said Rodney Young, Angeion's President and Chief Executive Officer. "We are pleased with their adoption of and confidence in our metabolic assessment and training systems and to be an integral component of their member programming."
About Angeion Corporation
Founded in 1986, Angeion Corporation acquired Medical Graphics Corporation ( http://www.medgraphics.com ) in December 1999. Medical Graphics develops, manufactures and markets non-invasive cardio respiratory diagnostic systems for the management and improvement of cardio respiratory health. The Company has also introduced a line of health and fitness products, many of which are derived from Medical Graphics' cardio respiratory product technologies. These products, marketed under the New Leaf Health and Fitness brand ( http://www.newleaffitness.com/ ) help consumers effectively manage their weight and improve their fitness. They are marketed to the consumer primarily through health and fitness clubs, personal training studios and other exercise facilities. For more information about Angeion, visit ( http://www.angeion-ir.com ).
About Life Time Fitness, Inc.
Life Time Fitness, Inc. (NYSE: LTM - News) operates distinctive and large sports and athletic, professional fitness, family recreation and resort/spa centers. As of March 8, 2005, the Company operated 40 centers in eight states, including Arizona, Illinois, Indiana, Michigan, Minnesota, Ohio, Texas and Virginia. The Company also provides consumers with nutritional products and supplements, the award-winning healthy lifestyle magazine, Experience Life, world-class athletic events, full-service spas, cafes, personal training consultation, health and nutrition education, and corporate wellness programs. Life Time Fitness is headquartered in Eden Prairie, Minnesota ( http://www.lifetimefitness.com ). LIFE TIME FITNESS and EXPERIENCE LIFE are registered trademarks of Life Time Fitness, Inc. All other trademarks or registered trademarks are the property of their respective owners.
--------------------------------------------------------------------------------
Source: Angeion Corporation
Great quarter for EDAC! They telegraphed that in the Q3 earnings PR. Interest savings alone was going to add .05 to EPS in Q4. Wish they had given a backlog number in today's PR. They had a good Q2 with a strong backlog, but the numbers dropped off in Q3. So I don't know how sustainable that EPS of .10 is going to be.
EPG out with some good news. Looked like someone had been accumulating the last few days. Will be interested to see how the company does in Q4. Nice profit in Q3, but could have been a fluke. Want to see the numbers before adding more.
Van Exel Dairy Joins Growing List of Farms That Agree to Adopt Microgy's Proprietary Anaerobic Digestion Technology
Tuesday March 8, 1:46 pm ET
PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 8, 2005--Microgy Cogeneration Systems, Inc. ("Microgy"), a wholly owned subsidiary of Environmental Power Corporation (AMEX: EPG - News), today announced that Van Exel Dairy of Lodi, CA has agreed to deploy an anaerobic digestion ("AD") system from Microgy.
This on-farm AD system will use manure from Van Exel Dairy's approximately 1,000 dairy cows, and other organic waste, to generate high quality biogas. This production of biogas is intended to power an on-site industrial dryer (thermal energy) for the manufacture of proprietary animal feed. This project remains subject to the approval of Scoular and the negotiation and execution of a definitive agreement between Microgy and Scoular regarding Scoular's supply and marketing of feed ingredients.
The Van Exel project is the fourth facility proposed for development under Microgy's Feed System Project Development Agreement with The Scoular Company ("Scoular"), a merchandiser of agricultural commodities with $2.3 billion in annual sales. Once operational, these four facilities are expected to produce an aggregate of approximately 333,000 mmBTU per year. A total of 50 such facilities are currently contemplated under Microgy's agreement with Scoular.
Value Added Proposition for America's Farmers
The nation's estimated 3,500 large animal feeding operations face a growing number of proposed and adopted mandates developed by federal, state and local officials aimed at regulating the management of farm waste. Complying with these mandates places a potentially significant cost burden on America's farmers.
Microgy's AD technology provides a value-added solution to this challenge. By partnering with Microgy and Scoular, Van Exel Dairy is moving towards transforming the management of its farm animal waste from a cost center to potential profit center.
Many of the enterprises that rely on processes driven by thermal energy are also dependent upon natural gas and, therefore, subject to the volatility of this market. Microgy's AD technology provides a stable, reliable and renewable source of biogas that can be used to generate thermal energy.
Jeff Dasovich, Vice President of West Coast operations for Microgy, stated, "Our partnership with dairy farms and Scoular exemplifies how Microgy's technology can supply a stable, low-cost supply of thermal energy for use in the manufacture of value-added products. In addition, we are providing waste management solutions with a compelling value proposition for farmers."
Hank Van Exel, owner of the Van Exel Dairy, stated, "Microgy's system offers a unique opportunity to enhance our revenues and utilize a state-of-the-art digester technology to help manage our dairy waste."
While Van Exel Farms will utilize Microgy's technology to generate thermal energy, the applications for its use are more extensive. These uses include producing biogas that can be used to generate electricity or refined to pipeline-grade methane that can be sold as a commodity. Microgy currently has agreements in place with 5 dairy farms in the Midwest under its agreement with Dairyland Power Cooperative to produce electricity using the biogas generated from its on-site ADs. Two of these projects are expected to become operational in the first half of 2005. A third facility is currently under construction and the remaining two farms are in the permitting stage.
Kam Tejwani, President and Chief Executive Officer of Environmental Power, commented, "We are excited to announce the continued penetration of the California market for our AD technology."
Headquartered in Omaha, Nebraska, The Scoular Company is a century-old agribusiness company supplying grain and feed ingredients throughout North America.
ABOUT ENVIRONMENTAL POWER CORPORATION
Environmental Power Corporation is a developer, owner and operator of renewable energy production facilities. Its principal operating subsidiary, Microgy Cogeneration Systems, Inc., holds an exclusive license in North America for the development and deployment of a proprietary anaerobic digestion technology for the extraction of methane gas from animal wastes for its use to generate energy. For more information visit the Company's web site at www.environmentalpower.com.
CAUTIONARY STATEMENT
The Private Securities Litigation Reform Act of 1995, referred to as the PSLRA, provides a "safe harbor" for forward-looking statements. Certain statements contained in this press release, such as statements concerning planned manure-to-energy systems, our sales pipeline, our backlog, our projected sales and financial performance, statements containing the words "may," "assumes," "forecasts," "positions," "predicts," "strategy," "will," "expects," "estimates," "anticipates," "believes," "projects," "intends," "plans," "budgets," "potential," "continue," "targets" and variations thereof, and other statements contained in this press release regarding matters that are not historical facts are forward-looking statements as such term is defined in the PSLRA. Because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: uncertainties involving development-stage companies, uncertainties regarding project financing, the lack of binding commitments and the need to negotiate and execute definitive agreements for the construction and financing of projects and for other matters, financing and cash flow requirements and uncertainties, difficulties involved in developing and executing a business plan, difficulties and uncertainties regarding acquisitions, technological uncertainties, including those relating to competing products and technologies, risks relating to managing and integrating acquired businesses, unpredictable developments, including plant outages and repair requirements, the difficulty of estimating construction, development, repair and maintenance costs and timeframes, the uncertainties involved in estimating insurance and implied warranty recoveries, if any, the inability to predict the course or outcome of any negotiations with parties involved with our projects, uncertainties relating to general economic and industry conditions, and the amount and rate of growth in expenses, uncertainties relating to government and regulatory policies, the legal environment, intellectual property issues, the competitive environment in which Environmental Power Corporation and its subsidiaries operate and other factors, including those described in our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, well as in other filings we make with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date that they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
--------------------------------------------------------------------------------
Contact:
Environmental Power Corporation
Kam Tejwani, 603/431-1780
ktejwani@environmentalpower.com
or
(Investor Relations Counsel)
The Equity Group Inc.
Devin Sullivan, 212/836-9608
dsullivan@equityny.com
or Adam Prior, 212/836-9606
aprior@equityny.com
--------------------------------------------------------------------------------
Source: Microgy Cogeneration Systems, Inc.
Any thoughts on CGCP.OB?
I'm surprised it's so weak after that earnings report last Thursday. Q4 revenues up 52%. Even more impressive was the $1.4M in income from operations. Going to have a net loss due to some non-cash charges from the October financing, but hopefully most of those will be a 1-time event.
Company received FDA approval for its SolarGen laser in the last week of December, and sold 3 lasers during that week. With three full months of SolarGen sales, revenues could be even better in Q1. Depending on any non-cash charges, they could report net income over $1M and earnings of .02/share.
Management was extremely bullish on the CC. Sounds like they will at least have some strong revenue growth in 2005. Cash position looks healthy at $6.6M.
gilead, re WMCO
I'm curious as to why you're selling? Not dirt cheap, but somewhat undervalued. They reported good fiscal Q1 results a few weeks ago...especially considering they started paying taxes. Without that $355K gain, they still earned a fully-taxed .03+/share in the quarter on a 21% revenue increase. And Q1 has been their slowest quarter for the past few years. CEO has been buying. Balance sheet is weak, but think the stock could pop to $1.40+ if Q2 earnings come in at .04/share.
Down to .46. I bought some more. Who knows where the bottom will be. I'm convinced the company is for real, but don't have a lot of faith in the numbers. If I did, I'd be loading up as this would be a slam dunk. Considering the strong demand in the oil services sector, Grifco should at least be putting up some decent numbers. With the valuations I'm seeing in the oil patch, would be surprised if GFCI didn't see another run in the coming months.
APES down to .81 X .82. Re-bought some. They earned a fully-taxed .028/share in Q3. Solid balance sheet with .17/share in cash. Don't expect any PR's, but this comment about large new customer wins (from the last 10Q) should bode well for Q4 and onwards:
"Revenues for the three months ended September 30, 2004 were $1,401,698, up $
59,530, or 4.4%, over revenues for the three months ended September 30, 2003,
which were $1,342,168. This increase was the result of ongoing business
development efforts and marketing initiatives. Increased revenues were realized
late in the third quarter related to the Company obtaining a few large new
customer accounts."
wade, a month ago I would have agreed with you. But I've been finding a lot of things to buy lately. EZEN today and AFPC and TGIS in recent weeks...all looked really cheap to me when they reported earnings. Only problem was trying to get in before they took off.
EZEN just reported Q4 pre-tax income up 100%+ on a 29% revenue jump. You honestly think in 2004 it was "real easy" to find companies growing much quicker than that with quarterly EPS of .04 and trading under $1??? What stocks are you thinking of? I guess I must have missed most of those gems. Bargains were definitely more plentiful when the market bottomed in 2002-2003, but even then I wouldn't say they were really easy to find.
niles, re PHPG
I'll be interested to see how they do on the bottom line in Q4. I wish they had said something about profitability when they pre-announced those strong Q4 revenues. The fact they earned less than .01/share in Q3 makes me worry. But if they do come in at .03, the stock should get a nice pop.
Hopefully the sharp sequential drop in Q4 bookings was not the beginning of a trend. Q3 bookings were $3,231,000. Q4 bookings came in at $2,580,000...and that included $530,000 from their new acquisition.
yield, re EPLN PTA FPWR
EPLN has held up well. Company could be buying. I thought the last 10Q was somewhat disappointing, so no rush to buy here. But I'm keeping it on my watchlist as they could turn things around in a quarter or two.
As for PTA, I tend to avoid insurance stocks. They can have a big profit one quarter, a big loss the next. Makes them hard to evaluate.
Nice news on FPWR today. I'm looking to get back in on a dip to the $4's. If gross margins rebound in Q3, they should have a great report in May. Problem is they'll have a tough bottom line comp.
wade, re CXTI
As Knowledge pointed out, the stock has had several strong quarters in a row. Usually gets a pop, then a selloff. It is unsettling, but I keep hoping one of these days it will break the cycle. Looks like it isn't going to happen today.
WIRX down to 2.65 X 2.70. Picked up a few more. With Q4 earnings of .075/share on a 39% revenue jump, possible Amex listing, solid balance sheet with .40/share in cash, easy Q1 comp coming up, and potential iPod hype...I think this stock could be trading at $3.50+ in a few months.
I bought all the EZEN I could get under $1.20. Will try to get more on a dip. VERY impressive report. Q4 earnings of .044/share (before tax benefit). Q4 revenues up 29%, Q4 pre-tax income up 119%. Solid balance sheet with tangible book value of .26, with more than that in cash. Bullish outlook on 2005. Said recent Microsoft agreement would strengthen margins and profits in 2005. On track for record bookings in Q1. And my favorite part of the PR:
"For the year ended December 31, 2004, we achieved earnings per share of $0.23, $0.13 per share on an operational basis and $0.10 per share realized from tax benefits, and would like to match that earnings per share level in 2005 purely on an operational basis."
Earnings of .23/share from operations in 2005? Yowsa!
MSGI, re ALY
I noticed the same thing. They had a loss in Q4. Doesn't seem to matter as the stock is pushing $7. Imagine if they had posted a nice Q4 profit...guess the stock would be at $10!
Seems to be quite a bit of froth in the oil patch. Wasn't too long ago that I was buying all the BSIC I wanted at .60. Today people are paying $2.39...even though the fundamentals haven't changed much.
XTND back in the low $4's after touching $5 last week. I added some more. They've pre-announced a strong fiscal Q3 with earnings of .11-.16/share. Think the stock will pop when numbers are released next month.
CXTI released big Q4 numbers. It looks like Q4 earnings came in at .15/share instead of the .10/share they pre-announced. Trailing P/E is 3.
China Expert Technology Reports Fourth Quarter and Fiscal Year 2004 Financial Results
Monday March 7, 12:16 pm ET
- Profits for the Quarter and Year End Increase 245% and 191% Respectfully
HONG KONG, March 7 /PRNewswire-FirstCall/ -- China Expert Technology Inc. (OTC Bulletin Board: CXTI - News), a company that specializes in providing large scale network infrastructure construction mainly for e-government projects for communities and municipal governments in China announced financial results for its fourth quarter and fiscal year 2004. For the quarter the Company posted a net profit of $3.5 million. These results compare to a net profit of $1.2 million from the year ago-quarter. Revenue for the quarter was $10.6 million up 87.5% from the year-ago quarter.
For the year the Company reported net income of $7.76 million and revenue of $26.8 million compared to net income of $1.2 million and $5.66 million in 2003. Earnings per share also from $.06 in the year ended 2003 to $.33 for the 2004, an increase of 450%.
KUNG SZE-CHAU, Chief Executive Officer of CXTI, stated, "During 2004 the Company began to realize substantially revenue from our e-government project in Jinjiang City of Fujian province. We are encouraged by the response and interest generated by our success in Jinjiang City and anticipate continued growth as we begin new projects in the months to come. We have previously announced two new projects for 2005 and are aggressively pursuing additional projects as our reputation for quality products and service expands to other cities in the province."
About the e-government project:
The e-government project is aimed to establish a national electronic government system, in which the existing and expecting government networks and applied systems can be combined to form united technology standard and regulation and consequently a united national government service platform. The term e-government is a process in which the government is able to take advantage of modern information and communication technologies to integrate the management and service on Internet, optimize and reform the government structures and working processes, and provide good and standard international administration and service to the society beyond time and space limit.
About China Expert Technology, Inc:
CHINA EXPERT TECHNOLOGY, INC. ("CXTI") is a company listed on the OTC BB in the USA (Trading Symbol: CXTI) and its subsidiaries (collectively the "Group") situated in Hong Kong and China, are specialized in providing large- scale network infrastructure construction (mainly e-government projects) for communities and municipal governments in China. The Group also utilizes its network with experts from vary universities in China to deploy business and IT consultancy services to corporations in Hong Kong and China. The Group's existing major clients includes municipal governments, government authorities and other technology firms in China. Its income is derived mainly from four areas, e-government, technology achievement appraisal, expert consultation and project database.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
For more information, please contact: Tim Clemensen
Rubenstein Investor Relations, Inc.
Tel: 212-843-9337
tclemensen@rubensteinir.com Phoebe Lam
China Expert Technology, Inc.
Tel: 852-2802-1555
Fax: 852-2802-9222
phoebe@chinaexpertnet.com
--------------------------------------------------------------------------------
Source: China Expert Technology Inc.
TGIS up to $1.80. Has seen some good action since the investor presentation last Thursday. With Q4 earnings of .06/share and a bullish outlook on 2005 revenue growth, I think the stock could keep climbing to the low $2's.