China Intelligent Lighting (CIL) Reports Mixed Results, Guides Above

China Intelligent Lighting and Electronics (CIL) is reporting mixed Q2 results this morning, missing on the EPS side posting .18 vs the estimate of .20.  They beat on revenues posting $18.5 million vs the analyst estimate of $17.5 million.  It should be noted that these are the numbers of the lone analyst covering this company.  Sequentially and in comparison to the year ago quarter, those numbers do represent decent growth.  Quarter over quarter, it represents EPS growth of 50% and revenue growth of 34%.

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Looking ahead, the company sees Q3 revenues of $19.1 – $20.1 million while the analyst predicted $18.6.

Ms. Li Xuemei, CEO of China Intelligent, said, “Following our exhibition at the Guangzhou International Lighting Exhibition, we signed agreements with 10 additional distributors. New construction projects are arising as manufacturers in China shift production to inner regions of the country to lower their labor costs, driving demand for our lighting products. We are proud to have successfully completed our IPO in June 2010, and we plan to use the proceeds from the offering to invest in research and development for new LED technologies as we expand our product offering, and to build our manufacturing and production capabilities so that we can leverage the opportunities provided by the rapidly-growing LED lighting market.”

Shares are trading flat at the open.

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