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Comtech Group Reaffirms Guidance
Wednesday January 16, 12:12 pm ET
Comtech Group Reaffirms Full-Year Outlook, Says Business Remains Solid
NEW YORK (AP) -- Chinese communications equipment maker Comtech Group Inc. reaffirmed its 2007 guidance Wednesday, saying its business was strong across the board during the fourth quarter.
The company still expects adjusted earnings of 70 cents per share and revenue of $221 million. Analysts, on average, are predicting a profit of 71 cents per share on sales of $220.8 million, according to a poll by Thomson Financial. Analysts typically exclude one-time items from their estimates.
"Although we are facing the slowdown of the U.S. economy, our management remains confident about Comtech's strong business growth outlook in 2008," Jeffrey Kang, chairman and chief executive, said in a statement. "The U.S. economy has little effect on Comtech because the majority of our business comes from the Chinese domestic market."
The company expects to post its preliminary fourth-quarter results Feb. 1.
Shares rose 24 cents, or 2.2 percent, to $11 in midday trading. In the past 52 weeks, the stock has traded between $10.60 and $22.50.
going from 54 cents to 70 cents is a 30% growth, and at 10.27, the PE is only 15 ... |
