Recent

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

Duoyuan Global Water Inc. Message Board

  • mturner_71 mturner_71 Mar 21, 2012 8:54 AM Flag

    Late Payment filing

    Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
    of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no,
    identify report(s). x Yes o No
    (3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the
    earnings statements to be included in the subject report or portion thereof? x Yes o No
    If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable
    estimate of the results cannot be made.
    Because the Audit Committee has retained advisors and commenced an investigation into whether the Company’s internal controls and processes met
    the standards required of a NYSE-listed company, the Board of Directors is not in a position to approve or otherwise ratify the Company’s presentation of the
    unaudited results for the fourth quarter and fiscal year ended December 31, 2010 at this time. However, the Company has disclosed the following unaudited
    results for the fourth quarter and fiscal year ended December 31, 2010 in a press release dated March 22, 2010, which was filed with the Commission on Form
    6-K on March 23, 2011. The following unaudited results of operations have been prepared internally by the Company and are subject to change pending the
    completion of the audit and the internal investigation.
    For the full year ended December 31, 2010, revenue increased by 30.1% to RMB1.0 billion ($154.4 million) from RMB783.4 million for the full year
    ended December 31, 2009. During this same period, gross profit increased by 23.7% to RMB466.7 million ($70.7 million) from RMB377.2 million in the
    prior year period. Operating income increased by 74.5% to RMB328.3 million ($49.7 million) from RMB188.1 million in the prior year period. Net income
    was RMB241.3 million ($36.6 million) compared to RMB117.0 million in the prior year period. Diluted earnings per share was RMB4.95 ($0.75) in the full
    year ended December 31, 2010, compared to RMB3.16 in the full year ended December 31, 2009. Diluted earnings per ADS was RMB9.90 ($1.50) in the full
    year ended December 31, 2010, compared to RMB6.31 per ADS in the prior year period.

    SortNewest  |  Oldest  |  Most Replied Expand all replies