Recent

% | $
Quotes you view appear here for quick access.

WONDER AUTO TECH AŞ Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • williams4076 williams4076 Mar 27, 2011 6:03 PM Flag

    What to do?

    Light reading until they report:

    NOTIFICATION OF LATE FILING

    (For Period Ended: December 31, 2010
    --------------------------------------------------------------------------------

    - As previously announced on February 23, 2011, in connection with the preparation of its consolidated financial statements for the fiscal year ended December 31, 2010, Wonder Auto Technology, Inc. (the "Company") concluded, that its financial statements as of and for the years ended December 31, 2008 and 2009, included in its Annual Report on Form 10-K for the year ended December 31, 2009, as well as the financial statements included in its Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30 during each of the years 2008 and 2009 should no longer be relied upon due to a cutoff error regarding timing of revenue in such periods. Additionally, the Company is still evaluating the impact of the cutoff-errors on its financial results for the year ended December 31, 2010 and on its internal control over financial reporting as of December 31, 2010.

    - As a result, the Company is unable to complete its Form 10-K within the prescribed time period. The Company remains committed to completing its Form 10-K at the earliest possible time, but does not currently anticipate its completion within the fifteen calendars following the prescribed due date.


    --------------------------------------------------------------------------------

    PART IV -- OTHER INFORMATION


    Subject to the results of the assessment as set out in Part III above, as announced on November 9, 2010, the Company raised guidance for full year 2010 sales revenue to $307 million from $300 million, as well as the guidance for full year 2010 net income to $37.5 million from $36 million, excluding the share-based compensation. The Company continues to expect to meet the previously announced guidance for revenue and profit in its press release dated November 9, 2010.

    For the reasons described under Part III above, the Company's expected results for the year ended December 31, 2010 as announced on November 9, 2010 and actual results for the years ended December 31, 2009 and December 31, 2008, are preliminary and remain subject to change.

    Wonder Auto Technology, Inc.
    (Name of Registrant as Specified in Charter)
    has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

    Date: March 17, 2011 By: /s/ Qingjie Zhao
    ----------------------------------
    Chief Executive Officer and President

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • "For the reasons described under Part III above, the Company's expected results for the year ended December 31, 2010 as announced on November 9, 2010 and actual results for the years ended December 31, 2009 and December 31, 2008, are preliminary and remain subject to change."

      #'s will be higher and they should beat estimates once announced. But we're in for a hell of a ride until they release. Hang on, Monday I expect a rocky road.