Longwei Petroleum (LPH +11.8%) raises its FY 2013 guidance to $667M from an earlier $646M and...

|About: Longwei Petroleum Investmen... (LPIH)|By:, SA News Editor

Longwei Petroleum (LPH +11.8%) raises its FY 2013 guidance to $667M from an earlier $646M and projects net income to grow ~23% Y/Y to $80M vs. a prior $77.6M forecast, driven by the better-than-expected ramp-up of the new Huajie facility. LPH now expects Huajie revenue contribution of $121M, up 21% from the prior forecast of $100M.