Lebed.biz Alert – SGAS hits $0.55, 2Q results coming soon!
Sino Gas International (SGAS) just hit $0.55 and I believe could move much higher in the short-term with 2Q results coming this month. Last year they released 2Q results on August 14th so we can assume the timing will be similar this year.
SGAS‘s 1Q results were unbelievable. Despite 1Q historically being one of SGAS‘s weakest quarters, revenues were up 16% over a year ago to $5.038 million and net income was up 132% over a year ago to $345,637.
SGAS‘s 2Q results will almost certainly show a huge improvement over a year ago because it was in the 2Q of last year that SGAS reported major non-recurring expenses.
SGAS reported net income in the last nine months of more than $2.33 million or $3.1 million annualized! SGAS‘s market cap at $0.55 fully diluted is only around $16.5 million which means its P/E based on its trailing nine month net income annualized is only 5!
Many American utility companies have P/E’s of 10 to 15 when they have no where near the growth SGAS is seeing in China! SGAS‘s customer base grew by an unbelievable 36% last year!
More updates on SGAS to come!
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