Archive for the ‘Financial results of BVI Company Holdings’ Category

China Cablecom announced its financial results for the fourth quarter and full year 2009

Monday, April 26th, 2010
China Cablecom Holdings, Ltd. (http://bvi-companies.blogspot.com/2008/12/china-cablecom-holdings-ltd.html) announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009. The issued release reflects both pro forma and actual financial results due to the completion of China Cablecom’s acquisition of 55% stake in Hubei Chutian Video & Information Network in the third quarter of 2008. The financial results of Hubei have been consolidated beginning with July 1, 2008. Along with this, the fourth quarter 2009 results of operations reflect the business combination with Jaguar Acquisition Corporation (http://bvi-company-mergers-acquisitions.blogspot.com/2007/11/jaguar-acquisition-corp-announces.html).
For the fourth quarter of 2009, consolidated revenues of the company were $13.2 mln compared to $9.8 mln revenue for the fourth quarter of 2008 – a 35% year-over-year increase. Consolidated operating expenses for the fourth quarter period were $7.2 mln, compared to operating expenses of $5.7 mln for the same period of 2008. The main reasons for the increase of operating expenses were debt restructuring and fundraising, which was completed in Q4 2009.
The net loss attributable to ordinary shareholders for the fourth quarter of 2009 was $43.4 mln, or $11.14 per share (basic and diluted) compared to a net comprehensive loss of $4.6 mln, or $1.43 per share (basic and diluted) in Q4 2008.
For the full year ended December 31, 2009, China Cablecom (http://finance.yahoo.com/q?s=CABL) reported consolidated revenues in the amount of  $45.6 mln. Pro forma operating expenses for the twelve months ended December 31, 2009 were $22.6 million. Net loss for the twelve months ended December 31, 2009 was $56.3 mln, or $16.56 per share (basic and diluted). For the reported period, the BVI company used weighted average shares outstanding of 3.4 mln.

China Cablecom Holdings, Ltd. announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009. The issued release reflects both pro forma and actual financial results due to the completion of China Cablecom’s acquisition of 55% stake in Hubei Chutian Video & Information Network in the third quarter of 2008. The financial results of Hubei have been consolidated beginning with July 1, 2008. Along with this, the fourth quarter 2009 results of operations reflect the business combination with Jaguar Acquisition Corporation.

For the fourth quarter of 2009, consolidated revenues of the company were $13.2 mln compared to $9.8 mln revenue for the fourth quarter of 2008 – a 35% year-over-year increase. Consolidated operating expenses for the fourth quarter period were $7.2 mln, compared to operating expenses of $5.7 mln for the same period of 2008. The main reasons for the increase of operating expenses were debt restructuring and fundraising, which was completed in Q4 2009.

The net loss attributable to ordinary shareholders for the fourth quarter of 2009 was $43.4 mln, or $11.14 per share (basic and diluted) compared to a net comprehensive loss of $4.6 mln, or $1.43 per share (basic and diluted) in Q4 2008.

For the full year ended December 31, 2009, China Cablecom reported consolidated revenues in the amount of  $45.6 mln. Pro forma operating expenses for the twelve months ended December 31, 2009 were $22.6 million. Net loss for the twelve months ended December 31, 2009 was $56.3 mln, or $16.56 per share (basic and diluted). For the reported period, the BVI company used weighted average shares outstanding of 3.4 mln.

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BVI-registered holding company announced financial results for the third quarter of 2010

Monday, March 8th, 2010
The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. (http://bvi-companies.blogspot.com/2009/03/global-tech-advanced-innovations-inc.html) reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.
In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009 (http://bvi-company-financials.bviincorporation.com/103/bvi-registered-holding-global-tech-advanced-innovations-reports-fiscal-results-for-q3-2009/). Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.
Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.
By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.

In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009. Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.

Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.

By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

Posted in BVI company holdings, Financial results of BVI Company Holdings, Unaudited financial results | No Comments »

Vietnamese bank partly holded by BVI company reports net profit rise

Monday, April 13th, 2009

The Ho Chi Minh City-based Eximbank, whose shareholders are Japan’s Sumitomo Mitsui Financial Group (SMFG) (15 per cent), British Virgin Islands-registered VOF Investment Ltd (5 per cent), and MAE, part of South Korea’s mutual fund Mirae Asset Group (4.5 per cent), announced its financial results for the year 2008.

The bank said that its net profit raised dramatically 53 per cent during the year, and made VND711 billion (US$40 million). Total assets rose 43 per cent, to VND48.25 trillion, after 15 per cent rise of loans to VND21.23 trillion (according to the audited financial statement of the lender.)

Gross profit of Eximbank in 2008 was VND969.23 billion, which is much lower than its annual target of VND1.3-1.5 trillion. The bank reported losses of  VND172 billion from trading and investing in securities, while in previous year there was a combined profit of VND57.3 billion.

Partially private Eximbank is the eighth largest bank in Vietnam.

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