Jinpan International announces preliminary Q3 2014 financial results
China, Hainan: Jinpan International Limited, manufacturer, and distributor of cast resin transformers, announced preliminary financial results for the third quarter ending on the 30th September 2014.
China, Hainan: Jinpan International Limited, manufacturer, and distributor of cast resin transformers, announced preliminary financial results for the third quarter ending on the 30th September 2014.
For the third quarter, revenue is expected to be approximately $62 million and net income is expected to be approximately $3.8 million, or $0.23 per share, reports Digital Journal.
For the full year 2014, revenue is now expected to increase 0% to 3% from the previous year to a range of $226 million and $233 million and net income is expected to increase 0% to 3% to a range of $16.5 million and $17.0 million, or $0.99 to $1.02 per share.
Mr. Zhiyuan Li, Chief Executive Officer of Jinpan International, stated: “While we have positioned our business to effectively compete within China’s slower growth environment, near-term uncertainty within the economy has delayed some of our customers’ projects. We will continue to execute on our strategy by maintaining our focus on quality, diversifying our product line, and targeting growth segments. We believe our technology and quality advantages will allow us to strengthen our competitive position during these market fluctuations.”
Source: Digital Journal
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