Net loss attributable to ordinary shareholders for the first quarter of 2010 was US$2.3 million, or $0.48 per share (basic and diluted) – compared to net loss attributable to ordinary shareholders of US$5.6 million, or $1.74 per share in the same period of 2009. The net loss in Q1 2010 was impacted by non-cash amortization of intangible assets which were acquired in connection with company’s acquisition of Binzhou Broadcasting and Hubei.

It is estimated by the BVI company that its total consolidated revenues for the full year of 2010 would be between US$50-55 million.

The Founder and Executive Chairman of China Cablecom, Clive Ng, said that they are pleased with reporting a strong quarter. He added that the performance of both operations in Binzhou and Hubei have exceeded the expectations and delivered significant growth in company’s results.

BVI Fund’s CEO Peter Tasca stated in his monthly report that the portfolio is trading as expected.

According to independent data compiled from different sources, Laureate’s investment strategies have outperformed 98% of the world’s most successful funds over a 3-year, 5-year and 10-year average.

In the quarter ended April 30, UTi Worldwide’s net income was US$10.1mln, or $0.10 per diluted share, – compared with US$9.8mln a year ago. Company’s operating expenses were 19 % higher, but revenue increased by 37% and made US$1.06 billion. Net revenues were US$365.7mln, this is a 18% increase from US$309.5mln.

The BVI company reported operating income in the amount of US$19.0mln, – a 6% increase from US$17.9mln. The profit expected by analysts was 9 cents per share on revenue of US$921.8mln.

In the reported period, company’s revenues decreased by 2%, from US$15.6mln in the third quarter of 2009 to US$15.2mln. The reason for this is mainly the coal product revenue decrease.

Operating expenses, which consisted of selling expenses and general and administrative expenses, increased by US$1,196,141, or 443.9%, and $920,542, or 70.6% in the three and nine-month periods ending March 31, 2010, respectively, compared to the same periods ending March 31, 2009. This was mainly due to the reverse acquisition transaction with the company formerly known as Ableauctions.com, Inc., and BVI holding company Top Favour Limited. Excluding the effect of the one-time acquisition-related costs, operating expenses decreased by US$15.644 for the third quarter ended March 31, 2010, compared to the same quarter of the previous year. 

The company reported gross profit decrease by US$1,596,333, or 22.1 percent, to US$5,641,605 in the three month period ending March 31, 2010 from $7,237,938 in the corresponding period ending March 31, 2009. Adjusted net income in the quarter ending March 31, 2010 decreased by 20% to approximately $3.0 million, from US$3.7 million in the same quarter of 2009, primarily due to the one-time acquisition-related expenses incurred by the Company in the amount of $1.2 million as described above.

Nevada-registered China GengSheng Minerals, Inc., conducting its business through its wholly-owned BVI subsidiary Gengsheng International Corporation, announced its financial results for the first quarter period ended March 31, 2010. The sales revenue reported by the company made US$11.9 mln, compared with US$12.4 mln reported in the first quarter of 2009. Sales expenses made $1.5 million, flat compared with the first quarter of 2009. Total operating expenses in the first quarter of 2010 were approximately US$49.5mln, and working capital was US$24.8mln. Net income was approximately US$0.4 million, or US$0.02 per share – compared with a net income of approximately US$1.0mln, or US$0.04 per share, for the same period of 2009.

Gross margin increased to 33.5%, compared with 30.3% in the same period of 2009. Gross profit for the three months ended March 31, 2010 was approximately US$4.0mln, or 33.5% of revenue (US$3.8mln, or 30.3% of revenue in the same period of 2009). The increase in gross profit and gross margin in the first quarter of 2010 may be attributable to the increase in average sales price of Gengsheng’s products and an increased revenue contribution from the full-service products.

Among the achievements of the BVI company in the reported period, there are beginning of trading on the NYSE AMEX Exchange in March 2010, having been awarded two fracture proppant contracts totalling approximately US$1.3mln, and two fracture proppant supply contracts totalling approximately US$3.6mln by a US-based distributor. Shipments that commenced during the beginning of the second quarter of 2010 are expected to continue through the third quarter of 2010.

Pansoft Company Limited, BVI-registered ERP software and professional services provider for oil and gas industry in China, announced financial results for the third quarter ended March 31, 2010. The company showed strong fiscal performance in this period, including high level of growth in revenue and profits, and improvement in the gross margin.

British Virgin Islands-registered Pansoft reported total revenues of US$2.3 mln, 62% more than US$1.4 mln in the third quarter of 2009. Gross profit reported by the company was US$1.43 mln, a 120% increase compared to US$0.65 mln in the same quarter of 2009. In the third quarter of 2010, gross margin was 62% (46% in Q3 2009).

The BVI company reported a 352% increase of operating profit, which made US$0.80 mln in the reported quarter, compared to US$0.18 mln in the third quarter of 2009.  Net income was US$0.72 mln, 145% more than in the third quarter of 2009. Adjusted net income excluding share-based compensation expenses was US$0.78 mln, this is a 67% increase compared to last year’s US$0.47 mln.

Diluted earnings per share was $0.13, an increase of 117% compared to $0.06 for the third quarter ended March 31, 2009. As of March 31, 2010, Pansoft’s cash and cash equivalents made US$13.5 mln, a 19% increase compared to US$11.3 mln in June 30, 2009.

Company’s CEO Guoqiang Lin said in his comments that this quarter showed record growth in  financial results, due to the strong market demand for the proprietary ERP systems. He noted that the company will continue to expand its business organically and through acquisitions in order to expand the product portfolio and customer base.

As a result of the decision of Pansoft Company Limited to authorize a change in the fiscal year end to June 30 from December 31 (because of higher consistency with the purchasing cycle of its major customers), the quarter ended March 31, 2010 actually represents the third quarter of the fiscal year ended June 30, 2010.

BVI-registered mineral exploration company Talon Metals Corp. reported its fiscal results for the first quarter of 2010. For the three months period ended March 31, 2010, the company reported net loss in the amount of US$265,013, or $0.01 per share (basic and diluted) – compared to net earnings of US$579,704, or $0.02 per share (basic and diluted) for the first quarter ended March 31, 2009. The earnings in Q1 2009 were the result of the company selling the remaining shares of its investment in Brazauro Resources Corporation, while this year’s loss is the result of operating expenses.

In the first quarter of 2010, Talon Metals announced that its capital exploration on mineral properties made US$301,901, mainly related to work done on Talon’s Sergipe Potash Project. On March 31, 2010, total capitalized exploration on mineral properties was US$9,719,821, primarily connected to works performed on the São Jorge Gold Project. Due to the Saber Gas Project, total capitalized exploration on oil and gas properties to March 31, 2010 was US$16,329,533. The merger deal between Talon and Saber Energy Corp. was completed in the first quarter of 2010.

According to the report, published on May 3, 2010, BVI company’s net sales decreased by 22.4 per cent to US$79.3mln, compared to US$102.2mln in the first quarter of 2009. Gross profit in Q1 2010 was US$6.5mln, 8.7 per cent down from US$7.1mln in Q1 2009,  primarily because of the decrease in sales. The company reported gross profit margin at 8.2 per cent (7.0 per cent in the same quarter of the previous year).

In the first quarter of this year, Nam Tai reported net loss attributable to its shareholders of US$1.1mln, as compared to net loss of US$3.9mln in the same quarter of 2009. The loss in Q1 2010 primarily resulted from the overall decline in sales, whereas the reason for the loss in Q1 2009 was a US$5.1mln restructuring charge for employee severance expenses in Chinese subsidiaries of Nam Tai Electronics.

Loss per share (basic and diluted) in the first quarter of 2010 was US$0.02, as compared to basic and diluted loss per share of US$0.09 in the first quarter of the previous year.

As at March 31, 2010, Nam Tai’s financial position remained strong with US$196.8mln cash on hand. Net cash provided by operating activities was US$4.4mln. In the first quarter of 2010, capital expenditure of the company made US$3.3mln.

The British Virgin Islands-registered Laureate Trust, engaged in hedge fund management, showed good results for March 2010, having outperformed the hedge index for a third consecutive month. During March, BVI company’s returns jumped 3.2%.

With year-to-date returns of 5.84%, Laureate Trust is ranked in the upper 10 per cent of the top performing hedge funds worldwide. In 2008, Laureate Trust returned 42 per cent due to its market neutral strategy, and in 2009 it returned 33 per cent.

In February 2010, the BVI trust which only accepts €1 million minimum investment into its funds, launched a retail fund with a €2,500 minimum investment. Trust’s CEO Peter Tasca said in his comments: “We’ve had huge demand for our retail fund. We’ve spoken to investors that have lost anywhere from €30,000 to €30,000,000 over the last two years and want a fund that can profit in any market environment.”

UTi Worldwide Inc., an international supply chain services and solutions company registered in the British Virgin Islands, reported financial results for the fourth quarter period ended January 31, 2010. In this period, company’s revenues were $991.5 million – an 11 percent increase from $894.1 million in fiscal fourth quarter period ended January 31, 2009. Net revenues were $350.6 million – a 5 percent increase from $332.7 million in Q4 2009. Net income was $1.5 million, or $0.02 per diluted share (compared to a net loss of $89.8 million, or $0.90 per diluted share). Adjusted net income attributable to UTi Worldwide Inc. for the reported period was $10.9 million, or $0.11 per diluted share. Operating expenses in the fourth quarter of fiscal 2010, excluding purchased transportation costs, were $338.8 million. Operating income reported by the company made $11.8 million. UTi Worldwide Inc. recorded an effective tax rate of 79 percent in the fourth quarter, and 35 percent for the year 2009.

According to company’s CEO Eric W. Kirchner, financial results in the fourth quarter were severely affected by sharply higher transportation costs. He said that the circumstances leading to the industry-wide yield contraction are to stabilize over time and this will allow the company to pass through higher prevailing transportation rates to clients.