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."
About China Evergreen Environmental Corporation
China Evergreen Environmental Corporation is a leading designer, engineer and developer of waste water treatment facilities in China. With its proprietary technology resources and project management experience, the Company provides both turnkey and BOT (build-operate-transfer) services to a range of industrial companies and municipalities throughout China. The Company also makes sales of its proprietary GM Bio-carriers, a natural, chemical-free process that improves the efficiency of the waste water treatment process.
Hmm...I'll spend more time on the indicators this weekend but I think that the top of the bollinger band will continue to be support right now....the 50 day will continue up higer to push it up as well...as volume and prices continue these exponential averages will go higher as well...my guess would be four more green days followed by another day like Wednesday....really too hard to call with this volume coming in...it is trading beautifully and predictably right now...not selling this uptrend and will continue to watch the 200 day moving average. A breach of the 200 day would be a reversal of the most recent uptrend. Each day pushes the 200 day higher. This is now a growth stocks because the fundamentals have changed drastically. The compounded monthly new subs is a signifcant financial boon. I'll trust in John and Chip to spend the new found money wisely and in the best interest of the shareholders. I have had no stress as a long once I decided to ride the uptrend and not try to flip this thing. If people can successfully flip to increase their share count or do that while holding onto a core holding I have no qualms with that and wish them well.
I've taken advice from Peter Lynch as well and have been a subscriber to GZFX since I've been a shareholder.
Market Data 
Markets 
AI
