China Advanced Constr Matls Group Inc (CADC)

[IPO$]

China ACM Reports First Quarter Fiscal Year 2013 Results, Provides Quarterly Guidance for the Second Quarter of Fiscal Year 2...









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China Advanced Construction Materials Grp., Inc. (MM) (NASDAQ:CADC)
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Today : Monday 19 November 2012

China Advanced Construction Materials Group, Inc. (NASDAQ: CADC) ("China ACM" or the "Company"), a provider of ready-mix concrete and related technical services in China, today announced its financial results for the first quarter of fiscal year 2013 ended September 30, 2012. The Company will host a conference call to discuss the results today at 8:00 a.m. Eastern, 5:00 a.m. Pacific. Further details are provided below.

First Quarter FY 2013 Financial Highlights
•Revenue reduced 31% year over year to $30.8 million
•Gross margin at 23.8%
•Net loss of $5.4 million or EPS of ($0.30)
•Guidance for second quarter of fiscal year 2013 - For the second quarter of fiscal year 2013, the Company expects to earn revenue of between $37 million and $42 million, net income (loss) to be between $(2.5 million) and $0.5 million, and EPS between $(0.14) and $0.03, respectively.
•Update of full year guidance for fiscal year 2013 - For the entire year of fiscal year 2013, the Company expects to earn revenue of between $137 million and $148 million, net income (loss) to be between $(2.5 million) and $2.5 million, and EPS between $(0.14) to $0.14, respectively.