China Financial Results 14/11/13 – Sino-Global, China Shengda Packaging Group, China ACM, Iao Kun Group, China Ceramics, China Automotive Systems

Sino-Global Announces Fiscal 2014 First Quarter Financial Results

  • Net income attributable to the Company was $0.28 million, compared with net loss attributable to the Company of $0.19 million for the same period of last fiscal year.
  • Total revenues were $3.32 million, down from $7.88 million in the first  fiscal quarter ended September 30, 2012. Decline in revenues from the shipping agency business was partially offset by revenues from the newly  developed logistic services business.
  • General and administrative expenses decreased from $1.0 million to $0.90 million; the 10% year-over-year decline was driven mainly by our overall  cost reduction program.
  • Basic and diluted earnings (loss) per share were $0.06 and $(0.07) for the first quarter of fiscal 2014 and 2013, respectively. Earnings and losses  per share are adjusted for the non-controlling interest.

China Shengda Packaging Group Reports Third Quarter 2013 Results

  • Revenues increased by 20.9% year-over-year to $39.9.million for the third  quarter of 2013 with revenues for paper cartons and other paper products  increasing 3.1% to $34.1 million and revenues for raw paper contributing  $5.9 million.
  • Gross profit decreased by 10.8% to $5.4 million for the third quarter of  2013 from $6.0 million for the same period of 2012. Gross margin of 13.4%  for the third quarter of 2013 compared to 18.2% for the same period of  last year.
  • Net income attributable to the Company’s stockholders decreased by $0.9 million, or 60.7%, to $0.5 million for the third quarter of 2013 from $1.4 million for the same period of last year.
  • Basic and diluted earnings per share were $0.01 for the third quarter of  2013, as compared to $0.04 for the same period of last year.

China ACM Reports First Quarter Fiscal Year 2014 Results, Provides Quarterly Guidance for the Second Quarter of Fiscal Year

  • Revenue decreased 67.0% year over year to $10.2 million
  • Gross margin at 11.2%
  • Net loss available to common shareholders of $5.8 million or EPS of -$3.92
  • $33.2 million in working capital at September 30, 2013

Iao Kun Group Holding Company Limited Announces Third Quarter and Nine Month 2013 Financial Results

**Casino group**

  • Rolling Chip Turnover (a metric used by casinos to measure the aggregate  amount of players’ bets and overall volume of VIP gaming room business  transacted, which is further defined below) for the three months ended  September 30, 2013 was $4.1 billion, an increase of 2.2% compared to $4.0  billion for the three months ended September 30, 2012.
  • Net income, including the change in fair value of contingent consideration  of $0.9 million related to the King’s Gaming, Bao Li Gaming and Oriental  VIP Room acquisitions, was $6.9 million, or $0.11 per share (fully  diluted), in the third quarter of 2013 compared to net income of $22.6  million, or $0.49 per share (fully diluted), in the same period of 2012.
  • Non-GAAP income, which is operating income before amortization of  intangible assets and the change in fair value of contingent consideration  related to the acquisitions of King’s Gaming, Bao Li Gaming and Oriental  VIP Room, declined 32.4% to $10.1 million, or $0.16 per share (fully diluted), for the three months ended September 30, 2013 as compared to  income of $14.9 million, or $0.33 per share (fully diluted), for the three  months ended September 30, 2012.
  • On September 20, 2013, the Company paid its 2013 Six Month Dividend of  $0.08 per outstanding ordinary share.

China Ceramics Announces Third Quarter 2013 Financial Results

  • Revenue was RMB 340.7 million (US$ 55.3 million), up 53.0% from the second  quarter
  • Gross profit was RMB 33.3 million (US$ 5.4 million), up 50.0% from the  second quarter
  • Plant utilization was 69% as compared to 49% in the second quarter of 2013  and 67% in the third quarter of 2012.
  • Asset write-down attributable to the disposal of property, plant and equipment was RMB 18.9 million (US$ 3.1 million) due to the replacement of  plant production equipment at the Hengda facility that enables the  manufacture of certain ceramic tile products to meet current and expected  market demand
  • Net profit was RMB 4.4 million (US$ 0.7 million)
  • Non-GAAP adjusted EBITDA (earnings before interest, taxes, depreciation  and amortization), which excludes the non-cash treatment of the asset  write-down and the quarter’s share-based compensation expenses, was RMB  44.0 million (US$ 7.1 million), up 50.3% from non-GAAP adjusted EBITDA of  RMB 29.3 million (US$ 4.7 million) in the second quarter
  • Non-GAAP adjusted profit from operations before taxation, which excludes  the non-cash treatment of the asset write-down and the quarter’s  share-based compensation expenses, was RMB 25.4 million (US$ 4.1 million), up 137.9% from non-GAAP adjusted profit from operations before taxation of  RMB 10.4 million (US$ 1.7 million) in the second quarter
  • Non-GAAP net profit, which excludes the non-cash treatment of the asset  write-down and the quarter’s share-based compensation expenses, was RMB  23.8 million (US$ 3.9 million), up 129.8% from non-GAAP net profit of RMB  10.1 million (US$ 1.6 million) in the second quarter
  • Earnings per fully diluted share were RMB 0.21 (US$ 0.03)

China Automotive Systems Reports Record High Third-quarter Net Sales

  • Net sales increased by 24.2% to a third-quarter record high of $90.9  million, compared to $73.2 million in the third quarter of 2012.
  • Gross profit increased by 32.0% to $16.5 million, compared to $12.5  million in the third quarter of 2012; gross margin was 18.2%, compared to  17.1% in the third quarter of 2012.
  • Income from operations was $11.0 million, compared to $5.5 million in the  third quarter of 2012, and the operating margin was 12.1%, compared to  7.5% in the third quarter of 2012.
  • Net income attributable to parent company’s common shareholders was $8.6  million, or diluted earnings per share of $0.31, compared to net income  attributable to parent company’s common shareholders of $3.4 million, or  diluted earnings per share of $0.12.
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