China Tracker - Details for China Precision Steel (CPSL)

 China Precision Steel
Shares Outstanding (MRQ): 3.88 mill
New Shares / Dilution (TTM): 0.00 mill0.00%
New Shares / Dilution (since Dec 31, 2008): 0.00 mill0.00% 
Cash (MRQ): 29.04 mill14,672.97%
Account Receivables (MRQ): 39.60 mill20,010.28%
Account Receivables (Q/Q): + 12.74 mill47.44%
Long-Term Debt (MRQ): 18.08 mill9,134.21%
Revenue Growth (Q/Q): 21.40% 
Revenue Growth (Y/Y): 41.48%
Net Income Growth (Q/Q): -36.96% 
Net Income Growth (Y/Y): -42.61%
EPS Growth (Y/Y): -42.61%
Net Margin (Q/Q): 3.5% (6.7%)-3.20% 
Net Margin (Y/Y): 3.5% (8.6%)-5.10% 
EPS | P/E (2 MRQ Projection): $1.690.03
CFPS | P/CF (2 MRQ Projection): -$1.51-0.03
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00
Auditor: Moore Stephens 
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2010-10-31): $0.150.34
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2006-12-28 
Uplisting to Senior Exchange: on 2006-12-28 at $65.40 (-99.93% since Uplisting)

 Business Outlook

China Precision Steel continues to ramp up production capacity with the addition of its third mill, which commenced production in January 2010. As the new mill continues to ramp up production, total production capacity is expected to increase by approximately 35,000 tons to 195,000 tons by the end of fiscal 2011. Once the three mills reach full design capacity in approximately two to three years, total annual production capacity is expected to be approximately 260,000 tons. As of March 31, 2011, China Precision Steel had a backlog of $21.8 million for contracts signed but not yet delivered.

"We have a cautiously optimistic outlook for the near-term as growth in demand for precision steel products resumed in response to the stabilization of steel prices towards the end of the quarter. We also anticipate an increase in exports in the fourth quarter of fiscal 2011 as we are in negotiations with several new potential international customers. While uncertainties remain in respect to the macro environment, we will continue to focus on our operating fundamentals and those factors we can control, such as expanding markets, improving margins of existing product groups, developing higher margin products, maintaining our strong balance sheet and financial flexibility, and positioning ourselves to capitalize on any strategic growth opportunities that may develop."

(Source: PR Newswire, 2011-05-16)

China Precision Steel continues to ramp up production capacity with the addition of its third mill, which commenced production in January 2010. Total production capacity is expected to increase by approximately 35,000 tons to 195,000 tons by the end of fiscal 2011 as the new mill continues to ramp up production. Once all mills reach full design capacity in approximately three to four years, total annual production capacity is expected to be approximately 260,000 tons. China Precision Steel had a backlog as of December 31, 2010 of $28.2 million for contracts signed but not yet delivered.

"Demand for our low-carbon steel products remains robust as China's stimulus program for appliances continues to be a success. However, we anticipate that the rising price of raw materials may lead to an increase in our cost of production and continue to put pressure on our gross margin. Overall, we expect our production capacity to continue to increase as we ramp up production at our new mill and expand our position in the domestic market."

(Source: PR Newswire, 2011-02-14)

China Precision Steel is ramping up production capacity with the addition of its third mill, which went into production in January 2010. The new mill is currently operating at 25% of its design capacity. Total production capacity is expected to increase by approximately 35,000 tons to 195,000 tons by the end of fiscal 2011 as the new mill continues to ramp up production. Once all mills reach full design capacity in approximately three to four years, total production capacity is expected to be approximately 260,000 tons. As of September 30, 2010, China Precision Steel had a backlog of $33,772,326.

"We believe that the next few years will continue to provide numerous growth opportunities for us as domestic consumption is expected to remain strong. Specifically, the Chinese government recently released its 12th five-year plan in which it stated that its focus for economic growth is shifting from dependence on export-led sectors to increasing domestic consumer demand. Moreover, we expect that demand for our precision steel products will also benefit from the increasing number of international manufacturers moving their production facilities to China."

(Source: PR Newswire, 2010-11-15)

    see all Business Outlook notes

 Analyst Coverage (show more)
2010-10-27Roth CapitalDowngradeDroppedn/a
2010-05-19Roth CapitalReiterationHold$2.00
2009-09-30Roth CapitalUpgradeHold$2.50
CPSL
Steel
SCORE
4
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SAFETY/RISK SCORE
MODERATE RISK
DETAILS: Safety/Risk Model for CPSL
Current Price:  $0.05
F10k Day (2006-12-28): -99.92%$61.68
2009 Close: -99.80%$24.60
2010 Close: -99.75%$20.40
2011 Close: -98.76%$4.08
High (2012-08-30): -98.60%$3.62
Low (2012-08-06): -74.51%$0.20
Exchange: PNK
Market Capitalization: 0.20 mill
Total Shares: 3.88 mill
Float: n/a
Avg Volume: 193.00 k
Short Interest: 1.76 mill
Short Ratio: 6.49%9.1 d
Last Quarter: 2010-06-30
Revenue (MRQ): 36.41 mill
Net Income (MRQ): 1.27 mill
Op. Cash Flow (MRQ): -3.17 mill
all financial data provided without warranty