Category Archives: BVI company financial forecasts

EOG Resources reported financial results for Q4 and Full Year 2017

BVI-registered company EOG Resources, Inc. reported financial results for the fourth quarter and full year 2017. In the fourth quarter 2017, company’s net income was $2,430 million, or $4.20 per share, as compared to net loss of $142 million, or $0.25 per share in the same quarter of 2016. For the year 2017, the BVI company reported net income of $2,583 million, or $4.46 per share (net loss of $1,097 million, or $1.98 per share, for the previous year).

Adjusted non-GAAP net income for the fourth quarter of the reported year was $401 million, or $0.69 per share, as compared to adjusted non-GAAP net loss of $7 million, or $0.01 per share, for the fourth quarter of 2016. Adjusted non-GAAP net income for the full year was $648 million, or $1.12 per share, compared to an adjusted non-GAAP net loss of $893 million, or $1.61 per share, for year 2016.

Capital expenditures for 2018 are expected to range from $5.4 to $5.8 billion, including production facilities and gathering. The company also announced capital program for 2018, which is aimed to achieve strong returns on capital employed and healthy growth while spending within cash flow.

Luxoft Holding, Inc. announced results for period ended September 30, 2016

BVI-registered software company Luxoft Holding, Inc. reported financial results for the three and six months ended September 30, 2016. For three months period, US GAAP revenue was US$196.5mln; earnings before interest, tax, depreciation and amortization (EBITDA) adjusted for stock based compensation, acquisition related costs and change in fair value of contingent consideration was US$37.4mln. Operating income increased 15.1% sequentially, generating 9.6% margin on a US GAAP basis (9.2% in the previous quarter of 2016). Diluted earnings per share on a US GAAP basis was US$0.48, and US$0.62 on a non-GAAP basis (in the previous quarter of the year US$0.42 and US$0.62, respectively).

For the six months ended September 30, 2016, US GAAP revenue reported by Luxoft Holding was US$374.5mln, which is a year over year increase of 21.0% on the reporting currency basis. Adjusted EBITDA increased 4.5% as compared to the previous year to US. Operating income amounted to US$35.3mln. For the six months period, diluted EPS on a US GAAP basis was US$0.90, and on a non-GAAP basis it was US$1.44.

In the last three months the company added seven high potential accounts (HPAs) from telecom, automotive and healthcare sectors. For the six months ended September 30, 2016, telecom, automotive and transport, and financial services were the strongest performers, providing 61.4%, 54.6%, and 13.5% of revenue growth respectively, compared to the first six months of last year.

For the year ending March 31, 2017, the BVI holding company expects revenue to be at least US$781mln, which is at least 20% higher than the previous year. Diluted EPS is expected to be at least US$2.85.

A-Power announced financial results for the three and nine month periods ended September 30, 2008

In the end of November, the BVI-registered company A-Power Energy Generation Systems, Ltd. announced unaudited financial results for the three and nine months ended September 30, 2008, which showed record statistics by many indices.

For the three months ended September 30, 2008, A-Power reported revenues that increased to $85.4 mln – up 120% from $38.9 mln for the same period of the prior year. Net income for the three months ended September 30, 2008 was $9.4 mln, that is 124% increase compared to $4.2 mln for the same period of the prior year. Earnings per share for Q3 2008 made approximately $0.28, while comprehensive income for the three months ended September 30, 2008 increased to $11.3 mln, if compared to $4.6 mln for the same period of 2007. Cost of revenues for this period amounted to $74.8 mln, an increase of $41.5 mln from the same three months period of the prior year.

For the first nine months of 2008, BVI company reported revenue in the amount of $183.4 mln, that is up 66% from the same period of the prior year. Net income for this period increased to $18.5 mln, up 56% from the first nine months period of 2007. Comprehensive income for the first nine months of 2008 increased to $22.3 mln, that is 81% increase from the same period of 2007.

By September 30, 2008 cash position of the BVI company was $59.7 mln, compared to $35.8 mln as of December 31, 2007. Working capital as of September 30, 2008 was $95.8 mln compared to $38.0 mln by the end of 2007.

Mr. Jinxiang Lu, A-Power’s Chairman and CEO, in his comments reaffirmed company’s earnings guidance of over $35 mln for 2008. He also named the main highlights of the BVI company in the third three months of 2008, including a new distributed generation contract in China’s Jilin province worth approximately $195 mln, and signing a binding MOU with National Power Supply Company for a $300 mln contract to develop a 600 MW distributed power system in one of Thailand’s provinces, which would be probably the largest distributed power generation contract up to date. Mr. Jinxiang Lu also mentioned the progress that was made by the BVI company in the wind turbine business – by completing construction of the largest single wind turbine production facility in Shenyang, China, and the development of other projects.

A-Power Energy reports profit rise in 2Q and reaffirms 2008 guidance

A-Power Energy Generation Systems Ltd., power systems company registered in the British Virgin Islands and operating through its Chinese subsidiary Liaoning GaoKe Energy Group Co., Ltd.,  announced its financial results for the second quarter of 2008. The company reported a 4% rise of profit in this period, due to the developing distributed power generation projects and wind turbine production.

The reported net income of the BVI company made US$ 6.2 million  in 2Q 2008, compared with US$6 million in the same period of the previous year. Excluding a stock option charge of US$280,000, total amount of net income made US$6.5 million, or 20 cents per share.

The BVI corporation announced a 22% increase of revenue, from US$54 million in 2Q 2007 to US$65.7 million. The analysts expected earnings of 20 cents per share on revenue of US$62.1 million.

A-Power also reaffirmed its earnings guidance for 2008, from US$35 million to US$45 million. In 2007, the company posted net income of US$16.5 million.

During the second quarter of the year, the BVI corporation received several big contracts, including a US$150 million contract to build 300-megawatt power generation system in Thailand. Last month, A-Power (BVI) also signed memorandum of understanding for a $300 million agreement with Thai corporation, to build 600-megawatt power generation system.