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Qiao Xing Universal Resources, Inc. Message Board

  • carolledavebooks carolledavebooks Nov 27, 2006 2:26 PM Flag

    HARD DATA on XING for the LT holder.

    1Q 2005 - 71.1M sales -- 9.4 Gross income - - 5.8 Operating income

    2q 2005 - appear exactly the same as first quarter when looking at August Press release and dividing given numbers by growth to come to 2005 numbers.

    3Q and 4Q 2005 - must equal 214M between the two. I've seen numbers of 69 million and 145 million for q3 and q4 respectively (very promising for q4 2006).

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    Let's turn to 2006 numbers as given.

    Q1- 84.1 sales -- 13.1 in gross income -- 9.4 in operating income

    Q2 - 97.3 sales -- 18.5 Gross income -- 13.0 in operating income

    Q3 - 106.5 sales -- 24.7 Gross Income -- 21.4 in operating income

    Expected Q4 -- 160 sales (q4 in historically strong) -- 32 gross income -- 27-28 operating income.

    As revenues grow higher, percent of operating income that translates into net income increases for XING -- so lets figure by adding the four given 2006 figures for operating income to estimate a net income for fiscal 2006.

    9.4 + 13.0 + 21.4 + 28 = 71.8m operating income.

    SO that's 71.8M in operating income and I am sure that number will be VERY close to actual. 2005 net income was 58.7 percent on operating income but 2006 should be a higher percentage - - we'll guess 65%.

    Net income (Estimate for 2006) is therefore around 46.6 million. or 7.14 million for 2006. 30 percent sales growth plus 50 percent net income growth for 2007 would therefore translate into 10.7 million.

    A forward PE that translates into around 3.2 with current PE lower than 5 after next quarter.

    That seems like the most likely scenario, making XING an obvious buy.

    Please discuss.

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