Tri-Tech Holding (TRIT) smashed analyst estimates after the bell tonight reporting an EPS of .21/share (vs the estimate for just .13/share) on revenues of $17.5 million (vs the estimate for $9.3 million). That represents quarter over quarter EPS and revenue growth of 40% and 314% respectively. A real nice quarter out of TRIT tonight despite lower margins due to a decline in higher margin software sales and the lower margin Ordos project.
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Tri-Tech Holding (TRIT), a top China water play, reported a Q2 EPS of $0.19, 6 cents better than the analyst estimate of $0.13 this morning. Revenue for the quarter was $8.1 million, which compares to the estimate of $7.02 million. That’s a revenue surge of 161% over the year ago quarter and a 19% improvement on the EPS side. Given the big ramp in revenue, I’d like to see TRIT reported a stronger EPS number, … Read the rest
Tri-Tech Holding (TRIT) remains a good way to play China water pollution/scarcity, but the stock has been crushed in recent months and trading down around all time lows. Today it’s getting some relief after the company announced an $8 million buy back program. They indicate the repurchases may occur over the next year in one or more public transactions in accordance with Rule 10b-18.
Tri-Tech Holding (TRIT) has really struggled since their last earnings report when the stock gapped up with heavy volume after beating estimates. It’s been all down hill from there, much of that the result of a secondary offering. Missing revenue estimates this morning isn’t helping. The stock was off another 20% around the lows today, but is holding what appears to be decent support around the $10 level.
Piper Jaffray is initiating coverage on Tri-Tech Holding (TRIT) this morning with an Overweight rating and a price target of $20 which is about 50% higher than where it is now. “Recent project wins and favorable government policies around municipal wastewater treatment provide very good visibility in 2010 and the company’s recent capital raise provides the financial strength to grow the top-line aggressively through 2011.”
Shares of TRIT are up about 5% in premarket trading. … Read the rest
Tri-Tech (TRIT) announced this morning it received a $2 million contract to upgrade (including design, equipment procurement, installation and startup) a wastewater treatment plant in Xinle City which will improve the plant from Class 2 to Class 1A standards, churning out cleaner water in the process. Not clean enough for drinking however. Class 1A water is only good enough for irrigation and toilets! The plant, with a daily capacity of 40K metric tons, will better … Read the rest