Replies to post #38395 on China Growth Stocks

[tenenbaum]

LIWA --

I just posted this on Geoinvesting's LIWA message board in response to its removal from their 'Geobargain-on-the-radar' list:


[--"Before this event LIWA was on track to only achieve 2010 EPS growth of around 5.0%"

Liwa's non-GAAP net income for 2009 was approximately $25.5MM with 26MM shares FD OS at the end of the year (eps ~ $1). Prior to the recent financing, the company guided for approximately $36MM in net income (this did not include the effect of the recent financing). Therefore, before the recent financing event, Lihua was on track to achieve approximately 38% non-Gaap eps growth ($1 -> $1.38) not 5%. There was also $1.25 in net cash on their balance sheet prior to the financing. With the latest financing, that net cash number rises to $2.16

This still appears to be a solid candidate for the Geobargain-on-the-radar list considering they should still achieve $1.2 in eps this year and $1.87 in 2011 (a figure that seems quite reasonable given the added capacity that will come online).]

Maj, if you're reading this, I'm not trying to be confrontational and love your site. Just want to make sure that the correct figures are out there.