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Sino Clean Energy, Inc. Announces Third Quarter 2010 Revenue
of $24.9 million and Adjusted EPS of $0.35
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Q3
2010 revenues increased 128.8% to $24.9 million; adjusted net income
increased 140.4% to $6.6 million, with adjusted EPS of
$0.35
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Q3
2010 gross margins increased 130 bps year-over-year to
38.7%
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Company
generated $21.3 million operating cash flow for the first nine months of
2010
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Company
reaffirmed full year 2010 guidance and expects revenues of at least $105
million and adjusted net income of at least $25
million
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Management
to host Earnings Conference Call on November 12, 2010 at 9:00 am
ET
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XI'AN,
China, November 12, 2010 -- Sino Clean Energy Inc. (Nasdaq: SCEI) ("Sino Clean
Energy," or the "Company"), a leading producer and distributor of coal-water
slurry fuel ("CWSF") in the People's Republic of China ("China"), today
announced the Company's unaudited financial results for the third quarter of
2010.
SUMMARY
FINANCIALS
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Third Quarter
2010 Results
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2010
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2009
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CHANGE
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Sales
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$24.9
million
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$10.9
million
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+128.8%
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Gross
Profit
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$9.6
million
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$4.1
million
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+136.5%
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Adjusted
Net Income
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$6.6
million (1)
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$2.7 million (2)
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+140.4%
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GAAP
Net Income (loss)
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$5.6
million
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($30.9)
million
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-
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Adjusted
EPS
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$0.35
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$0.27
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+29.6%
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GAAP
EPS (Diluted)
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$0.30
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($3.08)
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-
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(1) Excludes
non-cash gain of $1.0 million for the changes in fair value of
warrants.
(2)
Excludes $25 million non-cash cost for private placement, non-cash gain of $2.4
million related to extinguishment of derivative liability, non-cash charges of
$7.0 million for the changes in fair value of warrants, $3.1 million non-cash
amortization of notes discount and $1.1 million expenses related to the shares
of common stock placed in escrow in connection with the Company's September 2008
financing.
The following information was filed by Sino Clean Energy Inc (SCEI) on Friday, November 12, 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 Sino Clean Energy Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Sino Clean Energy Inc.
SCEI Quarterly Reports
- 10-Q Quarterly Report May 2012
- 10-Q Quarterly Report November 2011
- 10-Q Quarterly Report August 2011
- 10-Q Quarterly Report May 2011
-
10-Q Quarterly Report November 2010
