China Wind Systems (CWS) Posts Preliminary Results

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07:40:26 pm on February 22, 2010

This morning China Wind Systems (CWS) posted preliminary results for the full year 2009.  It should be noted  that these are preliminary, unaudited results.  The company will release official results sometime in the next month.

The company expects full year 2009 revenues to come in at $53.4 million (or $15.8 million for the quarter) and the EPS at .34/share (or .13/share for the quarter).  Those numbers represent a 26% and 33% jump over 2008 levels.  Quarter over quarter, the numbers are quite good with a 50% jump in revenues and an 85% jump in EPS over the year ago period.

Wind energy components are increasingly making up a larger portion of company revenues as they seek to reinvent themselves.  Wind energy revenue accounted for 40% of company revenue in 2009 and 52% of revenue in the 4th quarter.

Shares of CWS were essentially flat today and continue to work on carving out a new base. 

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