Yup! LLEN out very bullish today as well
The Company expects a revenue projection of $218 million for the 2011 fiscal year ending April 30, 2011 which represents growth of approximately 102% over previously released 2010 guidance of $108.1 million. We expect net income after tax and minority interest to grow from an estimated $28.1 million in 2010 to $46.7 million in 2011 for an increase of 66%. The Company is projecting earnings per share of $1.33 for 2011, an increase of 41% over previously released 2010 guidance EPS of $0.94 for the fiscal year 2010.
As a result of a drought in southwestern China, demand for coal in China is extremely high as coal-fired power plants are being utilized to offset decreases in hydropower output. Coal inventories at Qinhuangdao, China's largest coal port have dropped significantly the last two months. Increased Chinese coal import activity along with greater worldwide coal consumption have recently driven up prices. Coking coal, an essential material in steelmaking, has also seen recent high levels of demand and subsequent price increases.
