Duoyuan Global Water Inc (NYSE:DGW) Reports Fourth Fiscal Quarter Results

Duoyuan Global Water Inc (NYSE:DGW) reported fourth fiscal quarter EPS of $0.30 on revenue of $33.4 million, compared to consensus EPS of $0.32 and revenue of $33.12 million on Tuesday. The Company reported fourth fiscal quarter revenue of RMB220.4 million ($33.4 million), up 13.7% from RMB193.8 million in the prior year period, slightly above the consensus of $33.12 million. Revenue from water purification equipment increased by 14.0% to RMB50.7 million, Revenue from water conservation equipment, which includes circulating water treatment equipment, increased by 11.2% to RMB75.3 million, Revenue from water reuse equipment, which includes wastewater treatment equipment, increased by 10.7% to RMB87.0 million, Revenue from spare parts increased by 102.7% to RMB9.6 million. Net income for the quarter increased 21.4% to RMB48.3 million ($7.3 million) or RMB0.98 ($0.15) per share compared to RMB39.8 million or RMB0.91 per share in the prior year period. Diluted earnings per ADS was RMB1.96 ($0.30) in the quarter, compared to RMB1.81 per ADS in the prior year period. Excluding-cash, share-based compensation expense of approximately RMB0.9 million ($0.1 million), adjusted income increased by 24.7% to RMB49.3 million ($7.5 million) or RMB1.00 ($0.15) per share in the quarter from RMB39.5 million or RMB0.90 per share in the same quarter last year. Adjusted earnings per ADS was RMB2.00 ($0.30) in the quarter compared to RMB1.80 in the prior year period, 2 cents below the consensus of $0.32 per share. The Company announced that for the first quarter of 2011, it expects revenue of approximately RMB195 million. The Stock went down by 96 cents or 11.74% to $7.22 with volume of 1.45 million shares traded. The market capitalization of the stock stands at $88.85 million with P/E of 4.88. The stock has 52 week range of $6.83-$30.20. Duoyuan Global Water Inc. is a China-based domestic water treatment equipment supplier. Its product offerings address steps in the water treatment process, such as filtration, water softening, water-sediment separation, aeration, disinfection and reverse osmosis. 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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