SHENZHEN, China, July 24, 2006 /Xinhua-PRNewswire via COMTEX/ -- China BAK Battery, Inc. (CBAK), one of the largest lithium-ion battery cell manufacturers in China and in the world, announced its business outlook for the third-quarter ended June 30, 2006.
"For the third quarter, sales of our steel-case battery cells and aluminum-case battery cells were lower than we expected. The decline was primarily attributable to seasonal variations that are more accentuated than prior periods because of our increased production output," stated Xiangqian Li, the Company's Chief Executive Officer. "Specifically, we now expect third-quarter revenues to be approximately 15% below second-quarter revenues."
"We expect sales of battery cells for cellular phones to increase in the fourth quarter in line with seasonal trends. In addition, we expect sales of new products, such as battery cells for notebook computers and cordless power tools to increase as we ramp up production for two types of battery cells. Based on this, we expect our FY06 net income to be approximately $24 million."
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