Targeted Strategies for Today's Evolving Markets

MissionIR Blog

China Architectural Engineering Inc. (CAEI) Posts 107% Increase in Revenue for Q3 2008

China Architectural Engineering Inc. has been shaping the skyline with the design, engineering and installation of high-end curtain wall systems made from glass, stone, and metal. Their products have been used widely in many types of buildings. In the past 15 years, China Architectural has designed and constructed nearly one hundred projects of different scales throughout China and Southeast Asia. The company boasts a total of 53 patents for their technology and modules. Third quarter 2008 financial results came through recently with clear gains in a number of areas.

For the Company’s third quarter ended September 30, 2008, revenues totaled $55.98 million, up 107% from $27.08 million in the third quarter of 2007. Gross profit also gained, with a total of $17.38 million, up 166% from $6.55 million a year earlier. Gross margin increased year-over-year to 31% from 24%. Net income for the third quarter of 2008 was $9.91 million, or $0.18 per fully diluted share, up 217% on a per-share basis from $3.13 million, or $0.06 per fully diluted share, in the third quarter of 2007.

“Today’s financial results confirm the success of our strategy to seek growth overseas while maintaining our already strong position in our home market of China,” said Ken Yi Luo, Chairman and CEO of China Architectural Engineering. “This global approach is producing revenues from major new projects in the Middle East, the U.S., and East Asia. The global strategy continues to give us valuable diversification in very uncertain economic times.”

“When robust demand continues, we will be positioned to take advantage of it. At the same time, we are establishing our presence in new markets, such as the U.S., providing us with new opportunities to select from. Clearly if overall building activity will pick up as and when credit eases, we believe CAE will be fully prepared to take advantage of it,” he continued.

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *