China Tracker - Details for Deer Consumer Products (DEER)

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 Deer Consumer Products
 Business Outlook

Recent Chain of Events:
2012-08-13 -- Trading halted by NASDAQ
2012-08-09 -- Last SEC Filing
2011-08-09 -- Last Quarterly/Annual Report: Q3/FY2012 ended June 30, 2012

(Source: Trading China, 2012-09-30)

In 2011, Deer anticipates revenues from the high margin China domestic sales to surpass export sales. Deer provides 2011 revenue guidance of between $200 and $220 million, net income guidance of between $35 million and $37 million, and targets EPS between $1.08 and $1.12.

(Source: PR Newswire, 2011-05-10)

The Company believes that "Alfred Little" is a fictitious character - a disguise used by one or more illegal short sellers in the short sale scheme against DEER and other public companies. According to our investigation, "Alfred Little" is not a real person. His "professional biography" published on his website and on was fabricated, with the purpose to mislead and defraud the investing public. "Alfred Little's" published biography includes claims that he had years of experience as an auditor at Deloitte, worked for large global companies and had years of investment experience in China, published a book on China, etc. cannot be verified. Further, in the attack on DEER, "Alfred Little" published a 3 month old prepaid phone card that was never used as his purported contact number for concerned investors. In addition, "Alfred Little" quoted statements from several Chinese government officials as witnesses to support his various false allegations against DEER. These Chinese officials in fact do not exist. "Alfred Little" further made false allegations on his "channel checks" of Chinese retail stores while he failed to disclose his naked short positions in DEER and ignored DEER's repeated public disclosure about the Company's product distribution process as well as its corporate structure. "Alfred Little's" various articles, timely published in collusion with short sellers who immediately sold large blocks of DEER's stock in market orders that intentionally created fear in the general public to drive down DEER's share price. Short sellers have profited handsomely at the expense of DEER's thousands of shareholders. DEER will continue its vigorous investigation and discovery of the network of illegal short sellers that have damaged the reputation and destroyed value in U.S. listed public companies.

(Source: PR Newswire, 2011-05-02)

Deer Consumer Products announced today that DEER has filed a lawsuit in the Supreme Court of the State of New York against Seeking Alpha blogger "Alfred Little" and others, related to their numerous false "research reports" about DEER, which appear to be part of an orchestrated scheme to manipulate and depress DEER's stock.

(Source: PR Newswire, 2011-03-28)

DEER has noticed dramatically increased naked short activity in DEER's common stock as well as activities of several website bloggers, namely from a person writing under the name of "Alfred Little," a blogger on SeekingAlpha and others. The Company believes that it is possible that such persons and others may be colluding in efforts to bring down DEER share price through intimidation of research analysts, institutional investors and their broad spreading of fabricated market information and rumors with the goals of market and share manipulation of Deer's common stock and stock options.

The Company has serious questions regarding the true identity of the person or persons writing under the name "Alfred Little." "Alfred Little's" purported biography on SeekingAlpha stated that he had years of experience in China as well as years of accounting experience at Deloitte. The Company has not been able to verify "Little's" claims thus far and believes that the conduct of "Little," and surrounding circumstances, may fit a pattern common to the general nature of short selling/false rumor schemes highlighted by the SEC as a subject for immediate investigation. If so, "Little's" claim, and possibly the very identity of the persons behind "Alfred Little," would be open to serious question. The Company intends to investigate whether the recent events may be part of broad manipulative efforts by others, including several hedge funds based in California and elsewhere with the assistance of bloggers.

(Source: PR Newswire, 2011-03-21)

The Board of Directors has adopted a resolution to pay a quarterly cash dividend from future earnings of $0.05 per share. The dividend will be paid on April 14, 2011, to shareholders of record at the close of business on March 31, 2011. Declaration and payment of future quarterly dividends will be made at the discretion of the Board of Directors from future earnings only.

"The initiation of a cash dividend demonstrates Deer's confidence in our growth potential, and reflects our strong financial position and strong balance sheet without any long-term debts. We believe Deer's dividend yield is in line with those of other global companies in our household appliances industry. The cash dividend allows us to reward our long-term shareholders while maintaining sufficient cash levels to aggressively grow our business in 2011 and beyond. We have sufficient cash on hand to continue to grow our business without diluting our current shareholders."

(Source: PR Newswire, 2011-03-10)

In 2011, Deer anticipates revenues from the high margin China domestic sales to surpass export sales. Deer provides 2011 revenue guidance of between $200 and $220 million, net income guidance of between $35 million and $37 million, and targets EPS between $1.08 and $1.12. Deer believes 2011 will be another year of continued China domestic market expansion. Deer plans to significantly expand store presence in 2011 across China and market unique products to a broader customer base, which will position the Company for continued growth in 2012.

"In 2011, we do not anticipate slowdown in consumer spending in China. We believe the China domestic economy will continue to expand, which will result in greater sales to China's wealthier middle class who seek out Deer's quality small home and kitchen appliances to enhance their changing lifestyles. We do not foresee significantly increased costs in raw materials. We believe 2011 will be another year of record earnings growth for Deer."

(Source: PR Newswire, 2011-03-10)

Based on the current order fulfillment and product shipments to China domestic and global customers, Deer raises its 2010 earnings guidance to approximately $172 million in revenues, approximately $29 million in net income and Earnings per Share (EPS) of $0.87-$0.88. Deer's previous 2010 guidance was $160 million in revenues, $26 million in net income and EPS of $0.76.

Deer anticipates no less than 30% growth in both revenues and net income in 2011 from the raised 2010 levels, mainly due to anticipated continued revenue growth in China's domestic markets. In 2010, Deer significantly expanded its China domestic market distribution footprints, which positions the Company for further market expansion in 2011. In addition, Deer sees better global market conditions in 2011 as the global economy continues to improve, which would benefit Deer's global market sales.

"Deer's strong financial performance in 2010 has set a positive tone for Deer's continued expansion in 2011. Chinese consumer wealth expansion in a favorable environment of high GDP growth and low inflation has created healthy market demand for Deer's small household appliances products, which directly enhance the lifestyles of China's rising middle class. Deer's strong balance sheet and significant cash position also provide ample strategic M&A opportunities in 2011. In addition, Deer plans to significantly increase our production capacity in 2011 through the opening of our second production facility, in order to stay closer to our China domestic customers as well as expanding distribution outlets. Our second factory should be completed in 2011 and it is strategically located in a region that can service more than 300 million people in one of China's most economically developed areas. Deer looks forward to continuing delivering high earnings growth for our shareholders for years to come."

(Source: PR Newswire, 2010-11-10)

Deer intends to launch regional and store-specific marketing campaigns in the 3rd and 4th quarters to further enhance individual store sales. Our strong cash position provides ample marketing opportunities. Deer anticipates continued strong China domestic market sales as well as record earnings in the second half.

(Source: PR Newswire, 2010-08-10)

Deer sees no signs of slowdown in any of the Company's global markets. In addition, Deer has recognized record sales and new order growth for the North American and emerging markets during the month of May. Deer continues to see positive organic growth in its core business. Historically, Deer has had almost no bad debts from export sales. "Deer is experiencing strong sales in its current second quarter. Management sees significantly increased new order flow and buyer interest from the North American markets. Deer is also benefiting from its increased production capabilities, which can support approximately $300 million in annual revenues. Our expanded capacity enables Deer to continue to attract larger and broader customers worldwide."

(Source: PR Newswire, 2010-06-10)

Deer is experiencing strong China domestic and international sales in our current second quarter. We do not foresee any down side risk from the European markets that could negatively impact our business. We use US dollars as the sole currency for our international sales and we do not participate in, or have the need for, currency hedging. We are still on track to meet or exceed our financial projections for 2010.

(Source: PR Newswire, 2010-05-26)

Deer is currently experiencing strong domestic and global sales. Deer's robust existing and new order flow pipelines will likely result in higher than anticipated earnings growth. We are comfortable with raising Deer's 2010 earnings guidance to approximately $26 million in net income on revenues of approximately $160 million, with significant growth anticipated in our seasonally strong second half of 2010. We see little execution risk in achieving and potentially exceeding these new earnings growth targets.

(Source: PR Newswire, 2010-05-17)

Deer is currently experiencing robust product sales across all product lines in the current second quarter. The Company anticipates continued China domestic and global market expansion for the rest of 2010. Deer previously provided 2010 revenue guidance of $155 million, an increase of 91% from 2009, as well as net income guidance of $24 million, an increase of 94% from 2009. Deer is confident in its abilities to achieve and exceed these previous sales and earnings targets.

"For the rest of 2010, Deer anticipates significant growth from domestic product sales as well as global sales expansion. Chinese consumers' demand for modern lifestyle products, including convenient small household appliances, has been growing in double digits as a result of China's economic expansion. We see our market presence continuing to expand and our rapid earnings growth to continue in 2010. We look forward to delivering strong results in the coming quarters in 2010."

(Source: PR Newswire, 2010-05-10)

Deer directly benefits from an expanding Chinese economy and appreciation in the Chinese currency. Wealthier consumers demand better lifestyles by purchasing not only cars but also more household kitchen electronics. An appreciating Chinese currency, if it happens, should translate into higher earnings for Deer as we report our financials in USD. Deer's rapid revenue growth booked in the Chinese currency from the Chinese domestic market sales should further enhance our earnings. We believe Deer's fully integrated "from production to market" model makes Deer one of the most cost efficient marketers of small kitchen electronics in the world. Our growth model is totally aligned with China's current economic environment. We are seeing positive impact to earnings from the current economic policy changes in China.

(Source: PR Newswire, 2010-04-26)

Deer affirms 2010 revenue guidance of approximately $155 million, an estimated increase of approximately 91% from 2009. Deer also affirms 2010 net income guidance of approximately $24 million, an estimated growth of 100% from 2009. Deer anticipates significant sales expansion in the China domestic markets for "Deer" branded products in 2010 through broader market presence and distribution channels.

(Source: PR Newswire, 2010-03-02)
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DETAILS: Safety/Risk Model for DEER
Current Price:  n/a
F10k Day (2009-07-21): -100.00%$5.55
2009 Close: -100.00%$11.31
2010 Close: -100.00%$10.99
2011 Close: -100.00%$4.27
High (2012-02-02): -100.00%$5.10
Low (2012-08-07): -100.00%$2.11
Market Capitalization: n/a
Total Shares: 33.59 mill
Float: n/a
Avg Volume: 474.10 k
Short Interest: 2.74 mill
Short Ratio: 15.52%5.8 d
Last Quarter: 2011-03-31
Revenue (MRQ): 34.68 mill
Net Income (MRQ): 5.79 mill
Op. Cash Flow (MRQ): -10.87 mill
all financial data provided without warranty