Key Developments For China Fire & Security Group, Inc.
China Fire & Security Group, Inc. (CFSG.O) (Consolidated Issue listed on NASDAQ Capital Market)
China Fire & Security Group, Inc. Reaffirms FY 2009 Guidance
China Fire & Security Group, Inc. reaffirmed its fiscal 2009 revenue guidance of $88-$95 million and its projected net income between $28.3 million and $29.7 million, or $1.00 to $1.05 per diluted share (EPS). According to Reuters Estimates, analysts were expecting the Company to report revenues of $92 million for the same period.
China Fire & Security Group, Inc. Wins New EPC Contract In India
China Fire & Security Group, Inc. announced that it has signed a new engineering, procurement, and construction (EPC) contract worth approximately USD4.4 million with Indian National Thermal Power Cooperation Limited (NTPC) for fire protection solutions. Under the contract, the Company will serve as a total solution provider for the Vindhyachal Super Thermal Power Station (Vindhyachal), Stage IV (2 x 500 MW) project, in the State of Madhya Pradesh, India. The Company will be responsible for implementing the entire fire protection system for the project, including design, engineering, manufacture, procurement, transportation, construction, inspection, commissioning, technical guidance and maintenance. The Company will also provide its UL-certified linear heat detectors to ensure protection and safety from fire hazards for the project's entire facility. The project is expected to be completed within the next two and a half years.
China Fire & Security Group, Inc. Wins New Contract With Jinan Iron & Steel
China Fire & Security Group, Inc. announced that the Company has signed a contract worth approximately $9.4 million with Jinan Iron & Steel (Jigang) for fire protection turn-key solutions. Under this contract, China Fire will serve as a total fire protection solution provider and be responsible for implementing the entire automated fire protection system, including engineering, procurement, construction, monitoring, technical guidance and maintenance. China Fire will provide a turn-key fire protection system, which includes the Company's analog linear fire detectors, fire-alarm monitoring and control system, and water mist fire-extinguishing system. These systems will ensure that the entire production facility is safe from fire hazards and fully compliant with the new fire codes of the iron and steel industry. The project is expected to be completed within the next 12 months.
China Fire & Security Group, Inc. Issues FY 2009 Guidance In Line With Analysts' Estimates
China Fire & Security Group, Inc. announced that for fiscal 2009, the Company anticipates revenue will grow between 28% to 38% to a range of $88 million to $95 million. Pre-tax income is expected to grow between 22% to 32% to a range of $30.2 million to $32.6 million. Assuming an effective tax rate of 13%, net income is estimated to grow between 7% to 15% to a range of $26.3 million to $28.4 million, or $0.93 to $1.00 per diluted share, based on 28.3 million shares. According to Reuters Estimates, analysts were expecting the Company to report revenues of $93 million, net profit of $28.3 million and EPS of $0.99 for the same period.
China Fire & Security Group, Inc. Wins New Contract with Dongbei Special Steel Group
China Fire & Security Group, Inc. announced that the Company has signed a total solution contract worth approximately $4.4 million with Dongbei Special Steel Group Co., Ltd (Tegang) for automated fire protection systems.
