Hi Julius! Check AMCF $7.90 Nasdaq listed with huge earnings out March 3rd equating to a low PE and fantastic revenue and net income gains vs same period last year:
Andatee China Marine Fuel Services Announces Fourth Quarter and Fiscal Year 2009 Financial Results
FY 2009 revenues up 57% to $124.28 million
FY 2009 net income increased 333.8% to $6.4 million, EPS $1.11
Buzz up! 0 Print..Companies:Andatee China Marine Fuel Services CorporationTopics:Earnings.Related Quotes
Symbol Price Change
AMCF 7.90 +0.47
{"s" : "amcf","k" : "c10,l10,p20,t10","o" : "","j" : ""} Press Release Source: Andatee China Marine Fuel Services Corporation On Wednesday March 3, 2010, 3:45 am EST
DALIAN, China, March 3 /PRNewswire-Asia/ -- Andatee China Marine Fuel Services Corporation (Nasdaq:AMCF - News), the leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, today announced financial results for the fourth quarter and fiscal year ended December 31, 2009.
Fiscal Year 2009 Highlights -- Revenue increased 57% to approximately $124.3 million -- Gross profit increased 234.2% to approximately $14.1 million -- Income from operations was $9.5 million, up 408.8% year-over-year -- Net income was $6.4 million representing 333.8% increase year-over-year -- Earnings per share was $1.11 compared to $0.25 in 2008 -- Completed IPO on Nasdaq GM raising approximately $17.74 million in net proceeds Fourth Quarter 2009 Highlights -- Revenue increased 173% to approximately $39.0 million -- Gross profit increased to $3.9 million from $(1.1) million in fourth quarter 2008 -- Income from operations was $2.8 million, up from $(1.3 million) in fourth quarter 2008 -- Operating margin was 7.2% -- Earnings per share was approximately $0.28
"We are pleased with the solid business results we delivered in the fourth quarter and for the full year 2009. This performance is the result of the strong execution of our business strategy as our efforts to expand our sales network into Shandong, Zhejiang and Donggang yielded positive results. As we look to the future, we remain focused on providing the highest quality fuel at competitive prices to build a loyal customer base and to strengthen our brand. Additionally, we expect to continue our expansion into other regions with a focus on the retail market as we move to attain our goal of becoming the leading one-stop-shop marine service depot in China," commented Mr. Fengbin An, Chairman and CEO of Andatee Marine China Fuel Services Corporation. "In addition, we are proud to announce our successful initial public offering on Nasdaq Global Market raising net proceeds of approximately $17.74 million."
Full Year 2009 Results
Revenues for the fiscal year 2009 were $124.28 million, an increase of $45.09 million or approximately 57% as compared to $79.19 million for 2008. This increase was the result of increased volumes sold due to the expansion of the Company's sales network and recovery of demand from downstream industry. Following the 2008 acquisition of the facilities located in Shandong Shidao and Zhejiang Nanlian, Andatee experienced steady sales increase in those two markets.
Total sales volume for fiscal year 2009 was up 88.7% to 240,000 tons, compared to 127,000 tons in fiscal 2008. Sales volume of 4# marine fuel, mainly used by fishing boats, generated by the selling efforts of Xinfa, increased by 21,500 tons, from 6,100 tons sold for the year of 2008 to over 27,600 tons in 2009, and in Nanlian, the volume sales of 2# marine fuel, mainly used by fishing boats, was over 19,000 tons.
The Company expanded and completed construction of facilities in Donggang, resulting in over 20,000 tons of 3# marine fuel to fishing boats of local customers, and contributing to the total increase in sales volume for the year 2009.
In 2009 2# marine fuel represented 7.1% of sales, 3# marine fuel represented 9.5% of sales, 4# marine fuel represented 63.2% of sales, 180CST represented13.1% of sales and 120CST represented 7.1% of sales. In 2008, 3# marine fuel represented 14.6% of sales, 4# marine fuel represented 71.0% of sales, 180CST represented 12.5% of our sales and 120CST represented 1.9% of sales.
There is more to the report, but this gives you an idea of why I like the stock and I do own shares in both my and my wife's accts. The present this week also if you look at recent PR's on AMCF...thought you might enjoy a new possible stock to add to your Chinese lists, which I do enjoy by the way! Thanks...tuna |
