Key Developments: Synutra International Inc (SYUT.O)
5.37USD
19 Jun 2013
$0.03 (+0.56%)
$5.34
$5.20
$5.47
$4.88
62,757
20,325
$6.30
$3.80
Latest Key Developments (Source: Significant Developments)
Synutra International Inc Lowers FY 2013 Guidance; Issues Q4 2013 Guidance; Net Income Guidance Below Analysts' Estimates
Synutra International Inc announced that it expects a return to profitability in the fourth quarter 2013. For fiscal 2013, it currently expect revenue in the range of approximately $275-$280 million and a net loss of approximately $65 to 67 million, including $36.5 million of valuation allowance for deferred tax assets. In the fourth quarter of 2013, it expects revenue of approximately $82-$87 million and a net profit of $1 to $3 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $272 million, net income of $(56) million for fiscal 2013; revenue of $85 million and net income of $4 million for the fourth quarter of 2013. Full Article
Synutra International Inc Announces Appointment Of New Chief Financial Officer
Synutra International Inc announced the appointment of Ms. Ning Clare Cai as Chief Financial Officer, effective from December 20, 2012. Mr. Weiguo Zhang, who served as Interim Chief Financial Officer and President of the Company, will remain as the President of the Company. Full Article
Synutra International Inc Lowers FY 2013 Guidance; Comments On H2 2013 Revenue Guidance
Synutra International Inc announced that for fiscal 2013, it expects revenue in the range of approximately $300-$350 million and a net loss of approximately $30-$50 million. The Company also announced that revenue growth in second half of fiscal 2013 is expected to be greater than the first half of fiscal 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $388 million and Net Income of $43 million for fiscal 2013; revenue of $141 million in third quarter of 2013; revenue of $125 million for fourth quarter of 2013 Full Article
Synutra International Inc Lowers FY 2013 Guidance; Comments On H2 2013 Guidance
Synutra International Inc announced that for fiscal 2013, it is adjusting its full year outlook to reflect the slower than anticipated sales in the first quarter and second quarters with stronger levels of growth and profitability expected in the fiscal 2013 second half. The Company expect its fiscal 2013 revenue to grow to approximately $380 million to $400 million and achieve profitability of approximately $50 million to $57 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $413 million and net income of $57 million for fiscal 2013. Full Article
Synutra International, Inc. Issues FY 2013 Guidance; Net Income Guidance Above Analysts' Estimates
Synutra International, Inc. announced that for fiscal 2013, it expects revenues to be in the $400 to $420 million range and net income to be in the $55 to $65 million range. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $409 million and net income of $54 million for fiscal 2013. Full Article
Synutra International, Inc. Reaffirms Q3 2012 Guidance
Synutra International, Inc. announced that its sales and earnings estimates for the third quarter of 2012 remain unchanged. The Company now estimate the sales revenue to be within a range of $90 million to $93 million and net income in a range of $9 million to $10 million. According to I/B/E/S Estimates, analysts are expecting the Company to report net income of $10 million for the third quarter of 2012. Full Article
Synutra International, Inc. Provides Government Testing Results Regarding Infant Formula Safety
Synutra International, Inc. announced the final findings by government authorities regarding the case involving the twin infants from Jiangxi Province. The Jiangxi Province Center for Disease Control and Prevention and the Jiangxi Dairy Quality Supervision and Inspection Center (the Authorities) have performed two separate rounds of testing, which both confirmed the preliminary findings announced on January 13, 2012 from the People's Government of Duchang County that cleared Synutra products. The Authorities stated that samples in both additional tests were collected directly from the family of the deceased infant and from the retail store where the family bought the products and concluded that the samples are compliant with all eleven national standards, including level of coliform bacteria and total bacterial count. The Authorities also tested the residential well water from the family and found that both coliform bacteria levels and total bacterial count exceeded national standards. The Authorities had also previously released the attending physician's diagnostic records that determined the infant death was due to body overheating (hyperthermia) and multi-functional organ failure and that both the death of the male infant and the sickness of his twin sister were not due to food poisoning or related to food. Full Article
Synutra International, Inc. Wins Decision From Appellate Court
Synutra International, Inc. announced that the U.S. Court of Appeals for the Fourth Circuit (Appellate Court) affirmed a previous ruling of the U.S. District Court for the District of Maryland (District Court). As announced in April 2010, the District Court had granted the Company's motion to dismiss a product liability lawsuit brought against the Company related to products allegedly sold by subsidiaries during the 2008 melamine crisis in China. The plaintiffs filed a notice of appeal thereafter. In its opinion issued on September 6, 2011 regarding the appeal, the judges of the Appellate Court affirmed the District Court's dismissal of the complaint on the grounds of forum non conveniens. Full Article
Synutra International, Inc. Announces Appointment Of Interim Chief Financial Officer
Synutra International, Inc. announced that Donghao Yang has resigned from his position as Chief Financial Officer (CFO) to pursue another professional opportunity, effective immediately. Weiguo Zhang, the Company's President and Chief Operating Officer since 2005, will serve as interim CFO as the Company conducts its search for potential CFO candidates. Full Article
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