- $9M revenues from Beijing & Shanghai - $6M revenues from Tianjin [est. @ $500K/mo] - $15M total increased revenues - $10.8M gross profits [72% of revenues] - EPS = $.38 from $26.5M in gross profits from first 9 mo of 2009 - Using the conversion of GP to EPS first 9 mo for 2009 yields an additional EPS of $.15 for 2010.
The company has also reported that it is ahead of schedule in installing its sales outlets having surpassed 5000 earlier this month.
2008 EPS [diluted] was $.23. The company will easily double its EPS for 2009. In fact, it could have surpassed the EPS for the entire 2008 in Q3 alone had it not spent more than the usual amount of money for advertising and reseach. The TTM EPS = $.46, so this is strong affirmation that the EPS will likely double 2008 unless an unexpected disastrous Q4 arises.
In this light, the added estimated EPS of $.15 is obvious significant since it represents about 1/3 of the earnings for the first 9 mo of this yr. If income doubles again for 2010 vs. 2009, this is a good start.
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