Shengkai Innovations (VALV) Tops Q3 EPS by 5c; Raises FY11 non-GAAP Net Income
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Shengkai Innovations, Inc. (NASDAQ: VALV) reported Q3 EPS of $0.27, $0.05 better than the analyst estimate of $0.22. Revenue for the quarter came in at $26.6 million versus the consensus estimate of $25.2 million.
The Company raised its expectation of Non-GAAP net income, which excludes the non-cash change in the fair value of instruments and share-based compensation costs, from between $30 million and $32 million to between $31 million and $34 million.
The Company raised its expectation of Non-GAAP net income, which excludes the non-cash change in the fair value of instruments and share-based compensation costs, from between $30 million and $32 million to between $31 million and $34 million.
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