International Announces Unaudited Preliminary Results for Fiscal Year
China, March 5 /Xinhua-PRNewswire-FirstCall/ --Jingwei International Limited
(OTC Bulletin Board: JNGW; "Jingwei" or the "Company"), one of the leading
providers of data mining and interactive marketing services in China, today
announced unaudited preliminary financial results for the fourth quarter of 2009
and for the year ended December 31, 2009. The Company will release full
financial results when filing its Form 10-K on or before March 31,
revenue for Q4 2009 is expected to increase to between $13.2 to $13.5
million from $8.8 million in Q3 2009, or 50%-53%
income for Q4 2009 is expected to increase to between $2.8 and $3.3
million from $1.46 million in Q3 2009, an increase of over
cash flow (a non-GAAP measure defined as operating cash flows minus
capital expenditures and dividends) is expected to be approximately $8.4
million in 2009.
and cash equivalents at the end of 2009 is expected to be approximately
$10.2 million compared to $5.5 million at the end of
results are subject to the completion of the company’s annual
addition, the Company announced that for fiscal 2010, it is forecasting to
achieve total revenue of between $37.5 million and $42.0 million, net income of
between $7.3 million and $8.2 million, and earnings per diluted share of between
$0.43 and $0.48.
Chief Executive Officer of Jingwei International stated, “We are pleased to have
regained momentum with the continuing improvement of revenue and overall
performance in the fourth quarter and second half of 2009 compared to the first
half of the year. Our continued efforts in working capital management
resulted in great improvement in free cash flow as well as the balance of cash
and cash equivalents. Based on the results, we believe management
actions undertaken in the second half of the year continued to be on track; and
we expect this momentum to continue into 2010 as the Chinese and global
economies continue to recover.
step into 2010, we plan to continue to focus on strategic initiatives in
progress, which include the continuing growth of our proprietary consumer
database, the addition of mobile VAS and mobile Internet capabilities to
strengthen our portfolio in the data mining segment, as well as making further
investment in enhancing the capabilities and extending the geographic reach of
our interactive marketing services to benefit from the remarkable growth of the
Chinese consumer market and mobile Internet services. With the
anticipated revenue contribution from these initiatives and recent significant
deal wins from major wireless carriers, we hope to achieve strong growth in both
revenue and earnings in 2010."
The following information was filed by Jingwei International Ltd (JNGW) on Friday, March 5, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Jingwei International Ltd's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Jingwei International Ltd.
Ticker: JNGW CIK: 1314183 Form Type:10-Q Quarterly Report Accession Number: 0001144204-10-059932 Submitted to the SEC: Fri Nov 12 2010 5:24:52 PM EST Accepted by the SEC: Fri Nov 12 2010 Period: Thursday, September 30, 2010 Industry: Business Services