Key Developments: China Gerui Advanced Materials Group Ltd (CHOP.O)
2.06USD
24 May 2013
$0.01 (+0.49%)
$2.05
$2.12
$2.12
$2.05
28,637
69,798
$3.04
$1.06
Latest Key Developments (Source: Significant Developments)
China Gerui Advanced Materials Group Ltd Issues FY 2012 Guidance Below Analysts' Estimates
China Gerui Advanced Materials Group Ltd announced that for fiscal 2012, revenue is anticipated to be $265.5 million with earnings per diluted share of $0.45. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $269.6 million and EPS of $0.58 for fiscal 2012. Full Article
China Gerui Advanced Materials Group Ltd Lowers FY 2012 Guidance
China Gerui Advanced Materials Group Ltd lowered fiscal 2012 guidance and expects revenue to be in the range of $265-$270 million , below previously announced revenue guidance range of $290-$305 million. The Company is also lowering its earnings per share (EPS) guidance range to $0.65-$0.70 per share for fiscal 2012, below its previously announced guidance range of $0.75-$0.85 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $293 million and EPS of $0.75 for fiscal 2012. Full Article
China Gerui Advanced Materials Group Ltd Lowers FY 2012 Guidance
China Gerui Advanced Materials Group Ltd announced that for fiscal 2012, it has lowered its revenue guidance to be in the $290-$305 million range, below its previously announced revenue guidance range of $395-$410 million. The Company has also lowered its earnings per share (EPS) guidance for fiscal 2012 to be in the $0.75 to $0.85 range, below its previously announced earnings per share guidance range of $1.32 to $1.37. Full Article
China Gerui Advanced Materials Group Limited Reaffirms FY 2012 Guidance
China Gerui Advanced Materials Group Limited announced that for fiscal 2012, it continues to expects revenue of between $395-$410 million, and diluted earnings per share (EPS) of between $1.32-$1.37. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $402 million for fiscal 2012. Full Article
China Gerui Advanced Materials Group Limited Issues FY 2012 Guidance Below Analysts' Estimates
China Gerui Advanced Materials Group Limited announced that for fiscal 2012, it expects revenue of between $395-$410 million, and diluted earnings per share (EPS) of between $1.32-$1.37. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $452 million and EPS of $1.54 for fiscal 2012. Full Article
China Gerui Advanced Materials Group Limited Reaffirms FY 2011 Guidance
China Gerui Advanced Materials Group Limited reaffirmed fiscal 2011 guidance and expects revenue to be between $330 million and $345 million, gross profit of between $115 million and $120 million, adjusted net income of between $70 million and $75 million, and adjusted diluted earnings per share (EPS) of between $1.20 and $1.25. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $345 million for fiscal 2011. Full Article
Bronstein, Gewirtz & Grossman, LLC Announces Investigation Of China Gerui Advanced Materials Group Limited
Bronstein, Gewirtz & Grossman, LLC announced that it is investigating potential claims on behalf of purchasers of the securities of China Gerui Advances Materials Group Ltd. (China Gerui or the Company), concerning whether the company and certain of its officers and directors have violated federal securities laws. On October 28, 2011, analyst firm Prescience Investment Group (Prescience) issued a report alleging that CHOP misrepresented its financial performance and has overstated its revenue, net income and margins for at least FY 2007 and FY 2008. Citing a number of sources, including filings CHOP made with the Chinese State Administration of Industry and Commerce (the SAIC). Upon this news, Shares of CHOP fell from $2.99 on October 27, 2011 to as low as $1.98 on October 28, 2011. Full Article
Vision Opportunity China Fund Limited Announces Sale Of Shares Held In China Gerui Advanced Materials Group Limited
Vision Opportunity China Fund Limited announced that it has sold all shares of common stock held by it in China Gerui Advanced Materials Groups Limited (China Gerui) through a series of on-market transactions. The shares of common stock were previously acquired on June 7, 2010, for $7.0 million, or $5.70 per share, as part of an $18.8 million financing by private placements. No dividends were paid on the shares during the company's ownership. The total sale proceeds of approximately $4.3 million in cash, or at an average price of $3.50 per share, resulted in a realised loss of $2.7 million. The net proceeds will be held in cash pending distribution to shareholders. Full Article
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