BB's Stock Haven

[Mercury997]

CEEC nice long flatliner SA if this breaks .31 today it's GONE imo..

China Evergreen Announces Record Revenues and Earnings for Third Quarter 2005
Tuesday November 22, 10:18 am ET


GUANGZHOU, China--(BUSINESS WIRE)--Nov. 22, 2005--China Evergreen Environmental Corporation (OTCBB:CEEC - News), a waste water engineering company in the People's Republic of China, announced its third quarter results on November 15, 2005. The Company reported total revenues of $1.46 million for the quarter ended September 30, 2005 as compared to $70,000 for the quarter ended September 30, 2004. For the nine month period ended September 30, 2005 revenues increased to $5.47 million from $0.26 million in the prior year period.
ADVERTISEMENT


Profit margins over these time frames also increased significantly, with gross profit as a percentage of revenue at 93.8% for the third quarter, up from 38.0% for the same quarter last year. The Company's net income for the quarter rose to $316,790 (21.6% net profit), from $1,893 (2.7% net profit), for the third quarter of 2004. For the nine months ended September 30, 2005, net income was $1.15 million, compared to a net loss of $5,395 in the prior year period. The company's 10Q filing is available at http://www.sec.gov.

In announcing the third quarter results, Mr. Pu Chongliang, Chairman of China Evergreen, commented, "The third quarter results were in line with our expectations, with revenues for the year diversified across our three business lines: turnkey engineering projects, build-operate-transfer (BOT) projects, and sales of GM Bio-carriers. We expect results to continue to improve in the fourth quarter as we recognize revenues from some of our turnkey engineering projects based on percentage of completion, and we anticipate increased sales of our GM Bio-carriers."