Management expects $195.4 million of revenues, $35.5 of net income, and 97 cents of EPS for fiscal year ending March 31, 2012
BEIJING, April 11, 2011 /PRNewswire-Asia/ -- LianDi Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi" or the "Company"), a leading provider of clean technology, downstream flow equipment, engineering services and software to China's leading petroleum and petrochemical companies, today provided fiscal 2012 EPS guidance to supplement its previously announced revenue and net income financial projections released on April 5, 2011.
|
(Unaudited) |
FY2011 Guidance |
FY2012 Guidance |
YOY % Growth |
|
|
Revenue |
$130 million |
$195.4 million |
+50.3% |
|
|
Net Income |
$25 million |
$35.5 million |
+42.0% |
|
|
EPS |
$0.69 |
$0.97 |
+42.0% |
|
|
Shares Outstanding* |
36,444,850 |
36,444,850 |
||
*Fully diluted shares outstanding.
Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of LianDi stated, "Our long-term strategic relationships with Sinopec and CNPC provide us with tremendous confidence in growing our earnings and EPS for many years to come. We generate healthy net margins of approximately 20%, carry low inventories, and have collected nearly all of our receivables. We have more than one dollar of cash per share and have more than adequate capital to fund our future growth without any need to obtain additional financing."
The Company's fiscal 2011 year ended on March 31, 2011. LianDi's fiscal 2011 financials will be reported before June 30, 2011.
About LianDi Clean Technology Inc.
LianDi was established in July 2004 to serve the largest Chinese petroleum and petrochemical companies. Through its five operating subsidiaries, Hua Shen Trading (International) Ltd., Petrochemical Engineering Ltd., Bright Flow Control Ltd., Beijing JianXin Petrochemical Engineering Ltd., and Anhui Jucheng Fine Chemicals Co., Ltd., the Company distributes a wide range of customized valves and equipment and provides associated value-added technical and integration service. The Company also develops and markets proprietary optimization software for the polymerization process. In addition, LianDi is focused on the large, rapidly growing, clean technology market for oil refineries, projected to reach over $1 billion in the next 10 years. This market is expected to benefit from favorable Chinese government policies, including tax benefits and other incentives. Through the acquisition of a 51% interest in Anhui Jucheng Fine Chemicals Co., Ltd. in July 2010, the Company manufactures and sells organic and inorganic chemicals to industrial and petrochemicals customers.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of LianDi and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the impact of the proceeds from the private placement on the Company's short term business and operations; the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov ).
