GC China Turbine sees net profit at USD 1.6m-1.8m in Q3 2010
(ADPnews) - Oct 14, 2010 - Chinese twin-blade wind turbines maker GC China Turbine Corp (OTC:GCHT) projects a net profit of USD 1.6 million (EUR 1.2m) to USD 1.8 million for the third quarter of 2010, the company said in a statement on Tuesday.
GC China did not provide comparative figures for the year-earlier period.
Diluted earnings per share are expected to be USD 0.03.
Revenue is seen at USD 16 million to USD 18 million, with gross margins around 25%. The company produced a total of 30 wind turbines during the quarter.
Net profit for the nine months to September is to reach USD 5 million-5.2 million, or some USD 0.09 per diluted share.
GC China said it expected revenue for the period to be around USD 40 million to USD 41 million, while gross margins are seen at 25%.
The company reaffirmed its full-year forecast of USD 8.2 million net profit and revenues of USD 58 million.