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  • worthylion worthylion Nov 11, 2010 6:58 AM Flag

    Charoong Thai Reports Q3

    AWRCF's 51% owned publicly traded Thai subsidiary reported its Q3 results today. Sequentially, revenues were up 26% and earnings were up 22% from Q2. The earnings will contribute 16 cents per share to AWRCF's Q3 earnings compared 12.8 cents of the 27 cent total for Q2. This sets the stage for AWRCF's Q3 earnings to be 30 cents per share even if its other operations earnings in China,Singapore and Australia were sequentially flat (which I don't expect). If other country earnings improve also, overall EPS for Q3 could be 32 or 33 cents compared to 27 cents in Q2. Those would be high earnings compared to AWRCF's current 5.85 share price. Charoong Thai's shares rose to 12.30 bhat after the earnings announcement today so that AWRCF's 51% ownership position equates to $6.11 per AWRCF share--in excess of AWRCF's $5.85 share price even though Charoong contributes less than half of AWRCF's revs and earnings. AWRCF shares should jump this morning at the open in anticipation of strong Q3 results when the company reports on Nov 17.

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2.550.00(0.00%)Dec 18 3:51 PMEST

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