China Growth Stocks

[tbirdman]

Wowjoint Holdings Limited Provides Preliminary Q4 2010 Financial Results; Increase From Initial Guidance; Including EPS of $0.14 - $0.17 03/07 06:00 AM



BEIJING, March 7, 2011 /PRNewswire-Asia/ -- Wowjoint Holdings Limited (BWOW:$2.88,00$0.00,000.00%) , China's Innovative Infrastructure Solutions Provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction, today is providing preliminary financial results for the fourth quarter of 2010. Results are currently unaudited and subject to change:
Revenue in the range of $10.0 - $12.0 million, an increase from the initial guidance of $9.2 - $9.5 million.
Gross profit of $2.5 - $3.2 million
Net income in the range of $1.0 - $1.3 million
Earnings per share of $0.14 - $0.17


BWOW - Wowjoint (BWOW:$2.88,00$0.00,000.00%) has continued to execute on its growth strategy by winning contracts with new and existing customers in China and securing International orders. Increased demand for the Company's products, supported by enhanced sales and marketing efforts, has enabled Wowjoint (BWOW:$2.88,00$0.00,000.00%) to dramatically improve its financial results for the second half of 2010. Key additions to its sales force has been instrumental in expanding the pipeline of new business, which management believes will translate to further growth in 2011. Wowjoint (BWOW:$2.88,00$0.00,000.00%) is well positioned to take advantage of the $1.1 trillion infrastructure spending that China has planned from 2009 to 2020, in addition to driving incremental growth through its International channels and through new vertical applications. .

Wowjoint (BWOW:$2.88,00$0.00,000.00%) expects to release its fourth quarter and fiscal year results by the end of March 2011, at time first quarter 2011 guidance will also be provided. Â Senior management will host a conference call and webcast to discuss the results and answer questions. The specific time of the conference call and dial-in details will be forthcoming.