China Bak Battery, Inc. (CBAK) Repots Q4 Loss of 18c per Share, Comments on Outlook
Tweet
Share
E-mailGet Alerts CBAK Hot Sheet
Join SI Premium – FREE
China Bak Battery, Inc. (NASDAQ: CBAK) reported Q4 EPS of ($0.33), $0.18 worse than last year. Revenue for the quarter came in at $55.1 million versus $46.8 million last year.
Business Outlook
"Despite the continued weakness in global economy, we are excited to see a rapid growth in the EV market, and the Company has gained satisfactory achievement as one of the best battery suppliers in the EV industry. We are confident in our ability to expand our products in high-end market for higher revenue growth and gross margin. We will also continue to strive to implement cost control measures to improve our margins and achieve profitability," commented Mr. Xiangqian Li, CEO of China BAK.
"In addition, it is expected that we will receive unearned rental income from leasing certain parts of our new R&D Center to third parties and subsidies from the Chinese government for our Technical R&D Program, which will support the Company's cash flow for operations in year 2013," added Mr. Li.
For earnings history and earnings-related data on China Bak Battery, Inc. (CBAK) click here.
Business Outlook
"Despite the continued weakness in global economy, we are excited to see a rapid growth in the EV market, and the Company has gained satisfactory achievement as one of the best battery suppliers in the EV industry. We are confident in our ability to expand our products in high-end market for higher revenue growth and gross margin. We will also continue to strive to implement cost control measures to improve our margins and achieve profitability," commented Mr. Xiangqian Li, CEO of China BAK.
"In addition, it is expected that we will receive unearned rental income from leasing certain parts of our new R&D Center to third parties and subsidies from the Chinese government for our Technical R&D Program, which will support the Company's cash flow for operations in year 2013," added Mr. Li.
For earnings history and earnings-related data on China Bak Battery, Inc. (CBAK) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Meritage Homes Corporation (MTH) Tops Q1 EPS by 151c; offers guidance
- Amerant Bancorp Inc. (AMTB) Misses Q1 EPS by 5c
- Core Laboratories (CLB) Misses Q1 EPS by 13c
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
