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.

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The quarter over quarter growth was excellent though and I still think this stock is going to offer one heck of an entry point once it stabilizes.  Its Q1 EPS of $0.15, matched the analyst estimate of $0.15, but revenues fell shy of the analyst estimate $6.3 million at $4.2 million.  Despite the revenue miss, it was still a 50% increase over the year ago quarter.

CEO Warren Zhao commented:  “We are making excellent progress in penetrating adjacent industry vertical opportunities in the industrial wastewater and process tail gas treatment markets in the petrochemical industry. We are also pursuing opportunities in the power generation industry and the oil and gas industry.

“In a similar manner, we are further developing our water resource management services from partial management solutions to full management solutions for large scale river basin projects. We believe the Chinese government’s decision to initiate new programs and allocate significant investment for their implementation offers our company significant business opportunities. In addition, the severe drought in Southwest China will accelerate investment in water conservancy.

“In our municipal wastewater business, we plan to expand beyond our existing base of operations. In our current business footprint, local governments are building 80 new wastewater treatment plants. This growth represents development activities in only two provinces. We believe significant opportunities exist in the other 32 provinces, municipalities and autonomous regions in China.”