CPSL China steel $4.30 10 forward PE 30 % growth CPSL is a short term China NO BRAINER IMO It was $7 last week and $15 last year went down to $4.30 yesterday on OLD news. After adding a production line in June 2007 CPSL will have $.40 annual EPS rate implying a 10 PE- not bad for a company with 30% earnings growth.
(Drop was due to OLD news Basically the company is reselling shares on behalf of institutions who bought 8 MM shares in February, but these shares will be sold through private dealer blocks primarily they will not be sold on market)
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The Company has estimated that its revenues for fiscal 2007 and 2008 will be approximately $50.5 million and $62.5 million, respectively, with gross profit of $15.6 million and $20.3 million, respectively. Net income before tax is forecast at $13.1 million and $17.0 million, respectively, for fiscal 2007 and 2008, with provision for income tax of $2.2 million and $2.9 million, respectively. These estimates do not account for any adjustments attributable to foreign currency exchange rates and are based solely upon the Company's current business strategy and outlook. The Company undertakes no obligation to any person to update these estimates for changes to its business or to the underlying assumptions upon which these estimates are based.
