This one hasn't done much but like the news CHCG 4.47 +.27 : China 3C Group Gives Fourth Quarter Guidance and Raises Full Year '06 Estimates
Monday November 13, 8:30 am ET
ZHEJIANG PROVINCE, China, Nov. 10 /PRNewswire-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG - News), a major retailer and distributor of consumer and business products, today reported guidance for its fourth quarter of 2006 and increased its full year earnings per share estimates.
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The company estimates that revenue in the fourth quarter will be $57.5 million. This is a 610% increase in revenue of $8.1 million in the comparable fourth quarter last year and a 34.9% increase from $42.6 million in the previous Q3 '06. The company projects net income in Q4 '06 will be $4.3 million with earnings per share of $0.09, an increase of 34.3% compared to net income of $3.2 million, or $0.07 per share, in the previous quarter.
Chief Executive Officer Mr. Zhenggang Wang said, "The integration of our Hangzhou Sanhe acquisition will be advantageous to us in the fourth quarter. This quarter is also typically a busy season for retail business, and our stores are experiencing healthy organic growth. We expect to release our actual fourth quarter earnings in early February."
China 3C Group is also increasing its guidance for the full year 2006 to reflect its successful transition from a channel distributor to an independent retail chain operator. The company is raising its expected revenue guidance for 2006 to $142 million from $135 million, an increase of 5.2%, and is increasing its net income estimates by 9.2% to $10.7 million from $9.8 million. The company also projects earnings per share for 2006 will now be $0.22, an increase from its previous guidance of $0.20.
About China 3C Group
China 3C Group is a leading retail chain operating over 600 independent stores in Eastern China. The company specializes in selling 3C products (communication, information technology and digital) in China through its subsidiary Zhejiang Yong Xin Digital Technology Co., Ltd. Among China 3C's primary attributes is its efficient distribution network and rapid logistics system. The company's goal is to become the number one retailer of 3C products in China. For more information, visit china3cgroup.com.
A profile for investors can be accessed at hawkassociates.com. For investor relations information regarding China 3C, contact Jason Yuan at (201) 963-4225, e-mail: jasonyuan@china3Cgroup.com, or Frank Hawkins or Ken AuYeung, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at hawkassociates.com and americanmicrocaps.com.
Forward-looking Statement: We have included and from time to time may make in our public filings, press releases or other public statements, certain statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" and similar expressions. You are cautioned not to place undue reliance on these forward-looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control.
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Source: China 3C Group |
