ShengdaTech Inc. reports strong Q2 results
ShengdaTech Inc. (Nasdaq: SDTH), a Chinese maker of coal-based chemical products, reported second-quarter net income above analyst expectations.
for the three months ended June 30, net income was $6 million, or $0.11 per share, while Wall Street was expecting earnings of $011 per share. The firm’s second quarter bottom line compares with $3.2 million, or $0.06 per share, a year earlier.
Revenue soared to $22.7 million, above analyst projections of $21 million and above the $14.3 million from the same period of 2006.
The manufacturer says fiscal year sales are expected to be between $96 million and $98 million. ShengdaTech expects earnings in the range of $0.43 to $0.45 per share. Wall Street analysts are expecting sales of $96 million and earnings of $0.43 per share.
In pre-market trading, shares are up $0.28, or 5.17%, at $5.70. Over the last 52 weeks, shares have ranged between $3.55 and $9.95.
