China Fire & Security Group (CFSG) Shares Fall 9%
By Daniel James Hayden IV
March 16, 2010 10:38 AM
March 16, 2010 10:38 AM
Symbols: CFSG
Shares of China Fire & Security Group, Inc. (Nasdaq: CFSG) are down 9%, after the company released an earnings report that failed to meet Wall Street expectations.
China Fire & Security Group reported 4th quarter net income of $2.9 million, or 10 cents per share, compared with $6.8 million, or 24 cents per share, a year earlier, while 4th quarter revenue fell about 20% to $16.9 million.
According to a Thomson Reuters poll of analysts, the average estimate was for the fire safety products maker to report earnings of 12 cents per share on revenue of $16.9 million.
China Fire & Security Group said it expects 2010 earnings of $1.65 to $1.70 per share, on revenue of of $135 million to $145 million.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
