CChina Ceramics Slides 11% on Q4 Result, Outlook

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China Ceramics Co. Ltd. ( CCCL ) is down 11.8% at $2.08 but above a day low $1.90 after reporting non-GAAP Q4 EPS of $0.12 compared to EPS of $0.75 in the same period of 2011. Revenues of $40.0 million were lower than prior year Q4 revenues of $63.8 million.

CCCL's backlog of orders for delivery in Q1 2013 is approximately $22.8 million, which would represent a year-over-year decrease in revenue for Q1 2013 as compared to revenues recorded in Q1 2012. "Given the slowdown in domestic demand, the company believes that it is unlikely that it will bring the unused 26 million square meters of annual productive capacity online at its two facilities until macroeconomic conditions improve. The company's utilization of its online productive capacity for its two facilities was 68.3% in the fourth quarter of 2012, a decrease from 86.6% in the third quarter of 2012."

The company also said it will pay a semi-annual cash dividend of $0.10 per share. The first two cash dividends will be payable on July 13, 2013 and January 14, 2014, with record dates of June 13, 2013 and December 13, 2013, respectively.

CCCL is trading at $2.08 in a 52-week range of $1.33 - $3.63.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: CCCL

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