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Yongye International, AŞ Message Board

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  • nypd2726 nypd2726 Mar 15, 2010 10:19 AM Flag

    Where is everyone this morning?

    The earnings are out. I just posted it.

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    • I looked through it really quickly. The 4th quarter looks fantastic as expected, and suggests that they are selling a lot more Shengmingsu in the off season than before.

      But I am disappointed that the GAAP numbers did not reflect the fact that the majority of warrants were already exercised in the 4th quarter. I am afraid I don't understand why the reverse expense did not kick in. I truly expected the warrant issue to be completely behind us and we enter open water from here. Perhaps Future can enlighten us. Full year non-GAAP is $0.83, somewhat lower than our estimates but still very good.

      As for the long term, it's looking better than ever. I am surprised though, that Wu didn't talk much about growth prospect beyond the minimum 50% growth.

      Anyway, I'd better go back to read the report in detail.