Yesterday, L & L International (OTC:LLFH) released its fiscal 2010 first quarter financial results.1st Quarter Fiscal 2010 vs. 2009 Financial Snapshot Ended July
|1st Quarter 2010||2nd Quarter 2010||Period Change|
|GAAP Revenue||$12.75 M||$10.67 M||19.5%|
|Fully Tax-Adjusted EPS||$0.089||$0.084||6.0%|
|Fully Diluted Shares||21,307,409||21,944,901||2.9%|
At first glance, the results were not up to par with what we were looking for. However, the following factors have to be considered :
1. Less than one month of sales were included in its recently acquired coal washing facilities.
2. The GeoTeam® is assuming that there may have been some one time integration costs associated with the coal washing facilities.
3. In its Rodman & Renshaw conference investor presentation, LLFH issued very bullish guidance.
4. Comments from the company remain bullish:
"In the next quarter, L&L will show a full 3 months of operations from coal washing and results will be much more impressive as Hon Shen and DaPuAn have a combined annual capacity of over 500,000 tons." (Source: PRnewswire, September 15, 2009)