Sino-Global (SINO) Stock Continues to Surge on 450% Increase in YoY Q4 Revenue

Sino-Global Shipping America (NASDAQ: SINO) gained extended Tuesday morning after yesterday reporting Q4 EPS of $0.10, $0.34 better than ($0.24) last year. Revenue for the quarter came in at $3.76 million versus $680 thousand last year.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented: "Fiscal year 2014 was a turnaround year for Sino-Global. First, we restructured and streamlined our Shipping Agency business by focus on cutting overhead, trimming lower-margin contracts and developing higher-margin segments. Leveraging our business relationship with Zhiyuan, we also reduced our dependency on Shipping Agency Services and successfully expanded our service platform and gained expertise in Shipping and Chartering Services and Inland Transportation Management Services. As a result, we reported our first profitable fiscal year since our initial public offering in 2008."

Mr. Cao, continued: "Looking ahead, we expect the difficult macroeconomic conditions to continue in fiscal year 2015 and believe competitions and rising labor costs in the PRC will continue to put pressure on our operating model, particularly our Shipping Agency business. However, we believe the building blocks that we put in place during fiscal year 2014 will allow us to continue to carry out our strategy - to grow the business through effective cost control, monetization of strategic relationship with Zhiyuan and Zhenghe, and new service offerings along the shipping industry value chain, and deliver more sustainable growth and earnings in the future."

For earnings history and earnings-related data on Sino-Global Shipping America (SINO) click here.

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