Hey bro, CHP earnings out.....what do you think for tomorrow......It closed STRONG and then 200 share trade went off in A/H....thoughts...TY Hammer
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C&D Technologies 1Q Loss Narrows On Higher Revenue, Margins
Jun 7, 2010 17:22:36 (ET)
DOW JONES NEWSWIRES
C&D Technologies Inc.'s (CHP) fiscal first-quarter loss narrowed on higher revenue and improved margins, as the maker of batteries, reserve-power and switchgear systems noted commodity prices stabilized.
President and Chief Executive Jeffrey A. Graves said after a slow February, the company's business rebounded steadily, with bookings, revenue and margins up sequentially in each both of the quarter.
C&D, which has posted annual losses for several years, has seen losses lessen in recent quarters thanks to redesigned products and stabilization in its markets, which include telecommunications and utility companies. The company has also expanded its sales operations in Asia, where growth is stronger, especially in China.
For the quarter ended April 30, C&D posted a loss of $5.6 million, or 21 cents a share, compared with a year-earlier loss of $9.8 million, or 37 cents a share. Analysts surveyed by Thomson Reuters projected a loss of 10 cents. Revenue climbed 15% to $84.7 million.
Gross margin widened to 11.8% from 7.3%.
In May, the company received a notice by the New York Stock Exchange that it was no longer compliant with the NYSE's continued listing standards because the company's average market capitalization had been less than $50 million over 30 consecutive trading days. The company said it intends to submit a plan to comply with the standards within 18 months of the notice.
Shares fell 3.5% to $1.10 in after-hours trading. The company's stock has declined by nearly a third this year. It traded as high as roughly $60 in 2000.
-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com
(END) Dow Jones Newswires
June 07, 2010 17:22 ET (21:22 GMT)
