Deer Gained Modestly In The Pre-Market Trading

Deer Consumer Products, Inc. (NASDAQ:DEER) shares gained by 3.19% in pre-market trading from the previous close of $12.55.  The stock price stands at pre market last of $12.95, on a pre market volume of 45,600 shares. Yesterday, the stock traded with volume at 803,126 shares. The 52-week trading range for the stock is $18.97 – $6.981. The daily average volume of the stock is 379,763 shares. The market capitalization of the company is $421.49 million. Today, the company announced its third quarter results for 2010, with net revenues at $55.26 million, an increase of 108% as compared to $26.54 million from the previous year. The company attributes the increase in organic revenues to 708% year over year quarterly growth in the high margin China domestic markets. In addition, Deer continues to experience strong organic growth from its global markets. The net income was $9.27 million, an increase of approximately 125% from previous year and fully diluted EPS was $0.28, compared to $0.18 in previous year. This quarter the company executed its China domestic market expansion strategies successfully, which resulted in higher revenue growth as well as higher profit margins. The company integrated production to market model and its in-depth local cultural and market knowledge to make it one of the most profitable and efficiently operated companies in the small household appliance industry in the world. The company has raised its 2010 earnings guidance to approximately $172 million in revenues, approximately $29 million in net income and Earnings per share (EPS) of $0.87-$0.88. The company's previous 2010 guidance was $160 million in revenues, $26 million in net income and EPS of $0.76. Deer is a Chinese designer, manufacturer and seller of small home and kitchen electric appliances. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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