UPDATE: China Gerui Advanced Materials Slips 3%, But Above Day Lows After Q4, FY12 Guidance


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China Gerui Advanced Materials Group ( CHOP ) has trimmed its pre-market losses of more than 17% and is now down more than 3% to $3.05 but above a day low $2.87. The company earlier reported Q4 earnings of $0.31 per diluted share, compared with the Thomson Reuters consensus of $0.40. In the prior-year period, the company posted $0.23 EPS.

Revenues were $91.9 mln, up 39% from $66.1 mln in the same quarter last year. Analysts were expecting revenues of $105.84 mln.

The company sees FY12 EPS of $1.32 - $1.37, on revenues of $395 mln - $410 mln. The Street view is EPS of $1.56 on sales of $450 mln.

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This article appears in: Investing Commodities
Referenced Stocks: CHOP

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