China Architectural Engineering (CAEI) Issues Q2 Guidance
China Architectural Engineering Inc. (CAE) (NASDAQ: CAEI) (AMEX: RCH) expects to report significant gains in both revenues and earnings for the Company's second quarter ending June 30, 2008.
The Company said it expects revenues for the second quarter of 2008 to total between $32 million and $35 million, representing an increase of between 65% and 80% over the second quarter of 2007. The Company also noted that it expects earnings for the second quarter of 2008 to total between $6.7 million and $7.8 million, representing an increase of between 57% and 82% over the year-ago second quarter. The expected year-over-year gains in revenues and earnings during the current second quarter, if achieved, would mark the highest quarterly revenue and earnings in the Company's history.
"CAE's anticipated results for the second quarter of 2008 is a clear testament to the positive impact of our sharply growing international business, in markets such as the Persian Gulf region, as well as the continuing strength of our brand in our home market of China," said Ken Yi Luo, China Architectural Engineering's Chairman and CEO. "More importantly, our growing international presence, sales pipeline, work in process and record project backlog all indicate that the global demand for our unique engineering and construction capabilities is stronger than ever," concluded Mr. Luo.
China Architectural Engineering, Inc. specializes in high-end curtain wall systems (including glass, stone and metal curtain walls), roofing systems, steel construction systems, eco-energy saving building conservation systems and related products, for public works and commercial real estate projects.
The Company said it expects revenues for the second quarter of 2008 to total between $32 million and $35 million, representing an increase of between 65% and 80% over the second quarter of 2007. The Company also noted that it expects earnings for the second quarter of 2008 to total between $6.7 million and $7.8 million, representing an increase of between 57% and 82% over the year-ago second quarter. The expected year-over-year gains in revenues and earnings during the current second quarter, if achieved, would mark the highest quarterly revenue and earnings in the Company's history.
"CAE's anticipated results for the second quarter of 2008 is a clear testament to the positive impact of our sharply growing international business, in markets such as the Persian Gulf region, as well as the continuing strength of our brand in our home market of China," said Ken Yi Luo, China Architectural Engineering's Chairman and CEO. "More importantly, our growing international presence, sales pipeline, work in process and record project backlog all indicate that the global demand for our unique engineering and construction capabilities is stronger than ever," concluded Mr. Luo.
China Architectural Engineering, Inc. specializes in high-end curtain wall systems (including glass, stone and metal curtain walls), roofing systems, steel construction systems, eco-energy saving building conservation systems and related products, for public works and commercial real estate projects.
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