Wednesday, November 18, 2009

Updates on TRIT

Third Quarter 2009 Earnings Highlights

  • Revenue for Q3 2009 increased 131% to $4.9 million from $2.1 million in Q3 2008.
  • Gross profit (exclusive of depreciation and amortization) increased 112% to $1.9 million for Q3 2009 from $0.9 million in Q3 2008.
  • Q3 2009 gross margins decreased slightly at 39.1%, vs. 42.6% for Q3 2008.
  • Income from operations increased 150% to $1.3 million from $536,000 in Q3 2008.
  • Net income increased 112% to $1.1 million from $506,000 in Q3 2008.
  • Diluted earnings per share increased to $0.27, from $0.14 in Q3 2008.
  • Weighted average number of diluted shares outstanding was 3.95 million as of September 30, 2009, compared to 3.56 million as of September 30, 2008.
  • Completed an initial public offering of 1,700,000 ordinary shares at a price of $6.75 per share, traded on NASDAQ Capital Market on September 10, 2009.
New Contracts:

  • Awarded $960,000 in Mountain Torrent Forecasting contracts covering eight projects in four provinces.
  • Awarded $1.6 million Municipal Sewage Treatment contract in Kuancheng County of Hebei Province.
  • Awarded $1M Phase One Contract for Wastewater Treatment Plant in Jinjing Newtown in Baodi District of Tianjin Municipality in Northern China.

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Disclaimer: This blog is for general information purpose only. Stocks/financial instruments mentioned in this blog are not to be taken as investment advice/recommendation. Readers must consult their own financial advisors and/or consider their own risk/reward profile before making investment/trading decisions. The blog author is not liable for any investment/trading decisions of readers should readers decide to base the decisions on information provided by the blog.

Disclosure: The blog author owns TRIT in her personal account as of November 18,2009

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