Thanks Aussie.
As a follow up to your last post, here's what I feel to be some excellent supporting news for the strength of this company. The market's reaction differed from my view, however. Evidently the market doesn't feel as strongly as I or more likely it was just a sell the news reaction. Who knows. Personally, I think implementing a stock option plan is a clear sign of strength. I won't waste too many cycles trying to explain the 20% dip this a.m.. But whatever it was, it allowed me to pick up XING again for under 10.
Complete story:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-30-2006/0004390188&EDATE=
Summary:
HUIZHOU, Guangdong, China, June 30 /Xinhua-PRNewswire/ -- Qiao Xing
Universal Telephone, Inc. (Nasdaq: XING) released today, on an un-audited
management account basis, certain key financial data for the first quarter of
2006. Compared with the same period of the previous year, in the first quarter
of 2006, the Company's net sales and gross profit increased 18% and 43%
respectively.
1st Quarter of 1st Quarter of
2005 2006
(US$million) (US$million)
Net sales 71.1 84.1
Cost of goods sold 61.7 70.8
Gross profit 9.4 13.3
Operating expenses other than share-based
compensation (3.6) (3.9)
Share-based compensation -- (7.3)
Income from operations 5.8 2.1
Net sales increased 18.4% compared with the same period a year earlier.
This increase was mainly attributable to the following:
a. Unit selling price for the 'CECT'-brand mobile phone handsets increased
as a result of the 'High-End Product Strategy', implemented by CEC
Telecom Co. Ltd. (CECT), one of XING's operating subsidiaries.
b. For the 'COSUN'-brand mobile phone handsets introduced by Huizhou Qiao
Xing Communication Industry, Ltd., another of XING's operating
subsidiaries, sales increased as the sales network continued to expand
and the product range moved from low-end only to a complete one
consisting of high-end, mid-end and low-end products.
c. For the indoor phone business segment, there were more sales to
telecommunication operators and more export sales.
As a follow up to your last post, here's what I feel to be some excellent supporting news for the strength of this company. The market's reaction differed from my view, however. Evidently the market doesn't feel as strongly as I or more likely it was just a sell the news reaction. Who knows. Personally, I think implementing a stock option plan is a clear sign of strength. I won't waste too many cycles trying to explain the 20% dip this a.m.. But whatever it was, it allowed me to pick up XING again for under 10.
Complete story:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-30-2006/0004390188&EDATE=
Summary:
HUIZHOU, Guangdong, China, June 30 /Xinhua-PRNewswire/ -- Qiao Xing
Universal Telephone, Inc. (Nasdaq: XING) released today, on an un-audited
management account basis, certain key financial data for the first quarter of
2006. Compared with the same period of the previous year, in the first quarter
of 2006, the Company's net sales and gross profit increased 18% and 43%
respectively.
1st Quarter of 1st Quarter of
2005 2006
(US$million) (US$million)
Net sales 71.1 84.1
Cost of goods sold 61.7 70.8
Gross profit 9.4 13.3
Operating expenses other than share-based
compensation (3.6) (3.9)
Share-based compensation -- (7.3)
Income from operations 5.8 2.1
Net sales increased 18.4% compared with the same period a year earlier.
This increase was mainly attributable to the following:
a. Unit selling price for the 'CECT'-brand mobile phone handsets increased
as a result of the 'High-End Product Strategy', implemented by CEC
Telecom Co. Ltd. (CECT), one of XING's operating subsidiaries.
b. For the 'COSUN'-brand mobile phone handsets introduced by Huizhou Qiao
Xing Communication Industry, Ltd., another of XING's operating
subsidiaries, sales increased as the sales network continued to expand
and the product range moved from low-end only to a complete one
consisting of high-end, mid-end and low-end products.
c. For the indoor phone business segment, there were more sales to
telecommunication operators and more export sales.
