It's a good thing I already own some CSR. I just bought more. This stock could make quite a run over the next year.
China Security posts higher Q2; shares rise / China Security and Surveillance Technology, Inc.
Mon Jul 26, 2010 10:05am EDT
* Q2 EPS $0.23 vs $0.13 a year ago
* Q2 rev up 19 percent
* Full-year EPS, rev view above Street
* Shares rise 10 pct
July 26 (Reuters) - China Security and Surveillance Technology Inc (CSR) posted higher second-quarter results on increased demand across segments, and backed its full-year outlook, sending shares up 10 percent.
For the second quarter, the company reported earnings of $17.8 million, or 23 cents a share, compared with earnings of $6.5 million, or 13 cents a share, a year ago. Revenue rose 19 percent to $168.4 million. Government customers accounted for 55 percent of the total revenue. Analysts on average were expecting earnings of 23 cents a share on revenue of $177.8 million, according to Thomson Reuters I/B/E/S.
For fiscal 2010, the company maintained its earnings forecast of $1.12 a share to $1.16 a share on revenue of $830 million to $850 million. Analysts on average are expecting earnings of $1.10 a share, on revenue of $817 million.