Proactiveinvestors recommends
Additional Information
Market: OTCBB
Sector: Industrial Machinery
EPIC: NFEC
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
NF Energy
www.nfenergy.com

NF Energy Saving Corporation (the “Company” or “NF Energy”), based in Shenyang, Liaoning Province, is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services for China’s electric power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries.

Full NF Energy profile here
Pdf

NF Energy Saving shares down as Q4 earnings slide

25th Mar 2011, 3:05 pm by Phil Cheng
NF Energy Saving shares down as Q4 earnings slide

NF Energy Saving Corp. (NASDAQ:NFEC), a Chinese manufacturer of energy-saving flow control equipment, said Friday that fourth quarter earnings dropped 64% due to disruptions resulting from the company's move to a new manufacturing facility.

For the three months ending December 31, the company had net income of $0.5 million, or 9 cents per diluted share, down from profits of $1.4 million or 25 cents per diluted share, in the year-ago period.  Revenue rose 42% year-over-year to $7.3 million - still well below analyst estimates.

According to Thomson Reuters, analysts expected earnings of 33 cents per share on revenue of $10.4 million.

"Although the company's total revenue and profitability for the second half of the year was adversely affected by our move to our new facility...we weigh this against the potential of our new facility that has the ability to eventually triple our production capacity to 20,000 tons per year," said CEO Gang Li.

For the full 2010, the company reported lower net income of $4.3 million, or 79 cents per diluted share, compared to profits of $4.8 million, or 90 cents per diluted share, in 2009.

NF Energy re-iterated its 2011 guidance of between $30.0 to $32.0 million in revenue, also considerably below the analyst forecast of $35.7 million. Net income is anticipated in the range of $6.0 to $6.5 million.

Since the announcement, the company's shares fell 6.5% to $3.29 as of 2:26 pm EST.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.