BVI Company Financial News

China Gengsheng Minerals, Inc., a materials technology company, conducting its business through the BVI-registered subsidiary Gengsheng International Corporation and the Chinese subsidiaries, announced results for the fourth quarter and fiscal year ended December 31, 2009. For the fourth quarter period, the company reported sales revenue growth of 18% compared to the same period of 2008 – that is approximately $15.3 million. Company’s gross profit made $3.9 milliion – a 33.8% increase year-over-year. In the fourth quarter of 2009, China Gengsheng reported net income of approximately $1.0 million, that is $0.04 per share (basic or diluted), – compared with $643,000 net loss (or $0.03 per basic and dfiluted share) for the same period of the prior year.

According to the year end 2009 results reported by China Gengsheng, company’s sale revenues made approximately $57.0 million, compared with $49.8 million in 2008. Cost of sales in the fiscal year 2009 was $40.7 million – a 20.5% increase from approximately $33.8 million in 2008. Gross profit in 2009 was approximately $16.2 million, an increase of 1.6% from the last year. Net income made approximately $5.6 million in the fiscal year 2009, compared with $4.1 million in 2008.

As of December 31, 2009, company’s cash made about $1.0 million, working capital was approximately $24.6 million, and no long-term debt was reported. Total shareholders’ equity was 48.9 million, compared to $43.3 million at December 31, 2008. Total shares outstanding (both basic and diluted) were 24,038,183.

The company is optimistic about year 2010, and, based on its current sales estimate, is expecting  growth to continue.

Talon Metals Corp. published financial report for the year ended December 31, 2009. For this period, the BVI company reported net loss of $1,841,962 or $0.07 per share – basic and diluted. In 2008, net loss made $6,833,161 or $0.25 per share. This year, net loss was primarily due to operating expenses, partially covered by gains on investments totaling approximately $1.4 million.

For the three month period ended December 31, 2009 Talon reported net loss of $510,769 or $0.02 per share – compared to net loss of $6,833,161 or $0.25 per share (basic and diluted) in 2008. In the fourth quarter of 2009, net loss was mainly due to operating expenses.

Capitalized exploration of the BVI company in 2009 was $1,272,277, total amount is $9,417,920. This  relates mainly to the acquisition of the Sergipe Potash Project in Brazil.

LJ International Inc., a jewelry manufacturer and retailer having registered address in the British Virgin Islands, and operating in Hong Kong and China, announced financial results for the fourth quarter of the year ending December 31, 2009. The company also announced an upward revision of earlier guidance, to $39 million for the fourth quarter and $110 million for the fiscal year 2009. Earlier guidance, issued in November 2009, provided for quarterly and annual revenues of $30 million and $100 million. Based on these projections, revenues will be down approximately 6% and 19% year-over-year for the fourth quarter and fiscal year 2009, with lower sales in company’s wholesale operations.

The newly revised figures for the fourth quarter of 2009 showed 56% year-over-year sales increase at BVI Company’s ENZO chain of retail stores in mainland China, and an estimated total amount made approximately $16.7 million.

On a comp-store basis, net sales increased 19% in the fourth quarter of 2009 compared to the corresponding period of the previous year.

The company has also increased its guidance for earnings per fully diluted share at $0.09 for the fourth quarter of 2009 and $0.15 for the whole year.

BVI-registered OpenTV Corp., a leading software and technology provider of advanced digital television solutions, announced financial results for the fourth quarter and full year period ended December 31, 2009.

For the year ended December 31, 2009, the BVI company reported revenues in the amount of $120 million – a 3% increase compared to $116.5 million in 2008. Also, in this period royalties and licenses revenues increased 8.9% and made $84 million. Services and other revenues decreased 8.6% and made $36 million. Net income for the year ended December 31, 2009 was $6.2 million, or $0.05 per share, compared to $9.6 million, or $0.07 per share, in 2008.

In 2009, OpenTV’s cash flows from operations were $20.3 million, compared to $14.2 million in 2008.

As of December 31, 2009, the  BVI company had cash, cash equivalents and short and long-term marketable debt securities totaling $118.5 million, compared to $102.8 million as of December 31, 2008.

For the fourth quarter 2009, OpenTV reported revenues in the amount of $31.2 million, compared to $28.9 million in the same period of 2008. Royalties and licenses revenues in Q4 2009 were $22.2 million, compared to $8.7 million in the fourth quarter 2008. Adjusted Earnings Before Interest, Tax, Depreciation and Amortization were $4.4 million, compared to $3.9 million in the same period of 2008. Net income in the fourth quarter of 2009 was $0.7 million, or $0.01 per diluted share, compared to $2.3 million, or $0.02 per diluted share, in the fourth quarter of 2008.