QualityStocks'  Instablog

Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Longwei Petroleum Investment Holding Ltd. (LPH) Updates Fiscal 2011 and 2012 Operations 0 comments
    Aug 25, 2011 2:30 PM | about stocks: LPIH

    Longwei Petroleum Investment Holding Ltd. issued an operational update on its current business activities along with new guidance on sales and earnings over the next two years.

    Longwei Petroleum Investment Holding now expects sales in fiscal 2011 to be approximately $480 million, down 4% from the previous estimate. Net income is expected to be $65 million in fiscal 2011, adjusted for the company’s warrant derivative liability expense. The fiscal year ends on 6/30/2011.

    Longwei Petroleum Investment Holding has made a partial payment of $85.1 million towards the purchase of a fuel storage facility in Shanxi Province, China. The facility has a 100,000 metric ton capacity and is being purchased from Huajie Petroleum Co., Ltd. The assets being purchased also include a railway line, an office building and land use rights.

    Longwei Petroleum Investment Holding said that the remaining payment of $108.3 million to complete the purchase will be funded without raising equity. The company expects the deal to close during the second quarter of fiscal 2012.

    Longwei Petroleum Investment Holding expects the purchase of the storage depot and other assets to add to sales and earnings in fiscal 2012. The company has established sales guidance for fiscal 2012 at $576 million, and net income of $78 million.

    For more information on the company, go to longweipetroleum.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: LPIH
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.