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China XD Plastics Company Ltd Issues FY 2013 Guidance


Monday, 25 Mar 2013 08:00am EDT 

China XD Plastics Company Ltd announced that given the Company's strong performance during fiscal 2012 and positive outlook on customer demand for its products for 2013, the Company now expects revenues for fiscal 2013 to range between $935 million and $1 billion and net income for fiscal 2013 to range between $100 million and $132 million, excluding any non-cash charges related to stock based compensation and change in fair value of existing derivative liabilities. The current wide net income guidance is a function of the expected sales from subsidiary in Sichuan province, the income tax benefit received from China Western Development's favorable policies, certain local tax benefits as described in the agreement between the Company and the local government and the expected tax benefit in Heilongjiang province. 

Company Quote

5.28
-0.04 -0.75%
2:04pm EDT