China Growth Stocks

[Brennus]

CBPO: another blow out quarter!

YoY rev about double. EPS right at 33 cents.

Of course, I'm backing out the stupid, stupid, extra goofy non-cash charge for changes in the price of the stock & underlying warrants. That rule seems specifically designed to obfuscate earnings and confuse investors.

The real earnings number for CBPO is 33 cents for the quarter. That makes 65 cents in the past 6 months. So CBPO would have to double to trade at an 10x multiple! <G>

They generated over 7MM in operating cash flow. 1.2MM change in accts receivable vs 80.8MM revenue in 2009 so they're not stuffing the channel.

Net margin was 48%. Of course, non-controlling interest gets a material portion of that. CBPO have 50MM cash on the books...it would be nice if they used a portion of that to buy a larger controlling interest in some of their subsidiaries.

Just a big quarter from CBPO. Kinda expected a big quarter...and CBPO delivered. This stock is way undervalued.

http://sec.gov/Archives/edgar/data/1369868/000120445909002118/cbio10q.htm