Yongye International, Inc. (YONG)
3.23 May 9, 3:59PM EDT|Pre-Market: 3.52 Up 0.29 (8.98%) 9:20AM EDT - Nasdaq Real Time Price
First Quarter 2012 Financial Highlights
Revenue increased 28.2% to $64.4 million from $50.2 million in the first quarter of 2011
Gross profit increased 29.7% year-over-year to $35.4 million
Income from operations was $21.9 million, an increase of 94.1% over income from operations of $11.3 million in the first quarter of 2011
Net income attributable to Yongye increased 95.8% to $16.4 million, or $0.27 per diluted share, from $8.4 million, or $0.16 per diluted share, in the same period of 2011
Adjusted net income attributable to Yongye, which excludes non-cash expenses related to share-based compensation for management and independent directors, the amortization of the acquired Hebei customer list, and a change in the fair value of derivative liabilities, was $18.3 million, or $0.31 per diluted share, compared to a net income of $13.3 million, or $0.27 per diluted share, in the same period of 2011*
Operating cash flow was $61.7 million compared to $6.6 million in the same period of 2011
Mr. Zishen Wu, Chairman and Chief Executive Officer of Yongye International, stated, "We are pleased to announce strong first quarter results with year-over-year increases in revenue and net income of 28.2% and 95.8%, respectively. The strong growth demonstrates the continued strength of our brand and our successful launch of two new products, which contributed 77.3% of our total liquid crop nutrient sales this quarter. These new products highlight our commitment to product diversification and our strong research capabilities; we believe they will further solidify our market leading position.
It's against SEC rule for insiders to buy shares during MBO negotiations or process.
If shareholders hold on the shares, trust in executives, auditors, directors, 8K buyout SEC filing instead of rumors from anonymous bloggers, they would be made whole like jingwei shareholders who believed.
At least in mho lack of any credible evidence of fraud.
After all the Chinese scams you are hyping another chinese stock. Havn't you learned that these Chinese shysters cook the books (and their auditors pretend they know nothing about the scams so they continue getting paid)?
Any investor who invests in a Chinese stock that is listed on American exchanges deserves what is coming to him -- lose his investment!
I just wish I knew about these Chinese shysters before I invested in them!!
Why wish ill on all Chinese ADR's? You are free to pick and choose base on the best of your ability and on available information.
To date, the only negativity on tbet was the factory auction which Yu, and by virtue of silence agreed by auditors/directors etc, had denounced publicly.
Once again they are in a very uncheckable and vague business. Accounting measures could be suspect. Check symbol FEED see what happened there. Once again if they can't provide proof of funds in bank I would be skeptical of entire operations.
SPU is a Chinese company that confirmed on April 20th with Nasdaq it had cash verified assets in bank.
I would roll the dice with this chinese company for example in my opinion it is more suited as a shareholders company.