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Strategies & Market Trends : Greater China Junior Stocks

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From: InvestingInChina	10/3/2007 5:49:15 PM
	of 1992

Very interesting on SNEN The Westminster Securities report says SNEN will restate 2006 income UP by 45% (it's on page 17 of the coverage). This was apparently due to an accounting-related charge (that wasn't supposed to count against their net income, but in their original filing, it mistakenly did I take it). They also state: "full details of these restatements are not yet publicly available". Anyway, (according to the report), SNEN actually made $5.4M (.35/share) in 2006 and not the $3.7M (.24/share) they originally reported. You don't get to see small caps restate earnings UP, but it appears (according to the report anyway) that SNEN will need to do that.

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