China Clean Energy Inc. (CCGY)

[mauiguy2]

I posted the below message on the China Stock board. There was a lot of talk today on the Yahoo Board regarding the CEO's confirmation of the beginning of the Stock Buy Back Program.

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CCGY....This is my favorite stock of the "little guys". It's a long term hold for me and I feel confident regarding its prospects. I added more today. Like everything else Chinese related, it has taken a beating these past 8 months (down from a high of 1.30 last November). CCGY closed today at .675. It's worth noting that the Buy Back Program began today. As a reminder, I have pasted below some of the highlights from their 1st Quarter Earnings Report in May.

First Quarter 2011 Highlights

Revenue totaled $19.0 million, up 77% from $10.7 million for the first quarter in 2010

Gross profit totaled $4.3 million, up 192% from $1.5 million in the first quarter of 2010

Gross margin was 22.9%, compared to 13.8% in the same period in 2010

Operating income was $3.6 million, up 260% from $1.0 million in the first quarter 2010

Net income was $2.9 million or $0.09 per fully-diluted share, compared to net income of $0.4 million or $0.01 per fully-diluted share in the first quarter 2010

Adjusted net income (Non-GAAP) was $2.7 million, or $0.09 per fully-diluted share for the first quarter of 2011, compared to $0.8 million or $0.03 per fully- diluted share in the comparable period of 2009.