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CHLN May Be on Track to Exceed Analyst Estimates

Jul. 07, 2009 10:35 AM ETCHLN
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China Housing & Land Develop (NASDAQ:CHLN) may be on track to exceed 2009 second quarter analyst estimates.

The Company issued preliminary sales data for its 2009 second quarter.

Preliminary Second Quarter Sales Contract Data

  • Junjing II Phase One, Phase Two and other existing projects - $23.9 million
  • Non-Junjing II projects - $4.0 million
  • The average price per square meter has increased from the first quarter.

This is encouraging news and may imply that the company can exceed second quarter analyst estimates:

  • Revenues Estimate - $14.2 million
  • Earnings Per Share Estimate - $0.04

Per some of the press release verbiage, there is a caveat preventing the GeoTeam® from definitively assuming that China Housing & Land Develop will exceed estimates:

"Generated sales contracts for the 2009 second quarter are reported under the percentage of completion accounting method for revenue recognition and may not be fully recognized in the second quarter."

Historical Information on the relationship between contract sales data and actual reported sales data is still needed .

Source: PR Newswire

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