Friday, November 20, 2009

American Lorain Corporation (ALN) Issues New Guidance for 2010 and Reaffirms Guidance for 2009

American Lorain is a major processed food company that sells chestnuts, convenience foods, and canned, frozen and bulk food products both to domestic and international customers through their four subsidiaries. American Lorain has garnered global recognition by selling over 234 products to 26 provinces and administrative regions in not only China but 42 foreign countries.

While business at American Lorain has been solid despite trying economic conditions faced throughout the globe, the future looks ever brighter for the young company with yesterday’s announcement. Yesterday, it was reported that the company’s management reaffirmed guidance for the current fiscal year and went so far as to issue new guidance for the next fiscal year ending December 31, 2010.

Leading the way at American Lorain is Mr. Si Chen who serves as their Chairman and CEO. Chen founded Shandong Lorain, the first subsidiary of Lorain Group Company, in 1994, and served as the chairman of the Lorain Group Companies from that time until the Lorain Group Companies were acquired by International Lorain Holdings in August 2006. Prior to establishing Shandong Lorain, Chen worked for the county government and was responsible for the local agricultural economic development.

When asked about today’s announcement, Mr. Chen was quoted as saying, “We reaffirm guidance previously provided in our November 13, 2009, third-quarter earnings conference call and expect total sales revenue between $146 million and $148 million for the fiscal year ending December 31, 2009. This would represent a revenue increase of 10%-12% for 2009 over 2008 levels. Furthermore, we expect net income of between $14.4 million and $14.8 million in the 2009 fiscal year. Our expectations for fiscal year 2009 sales revenue and net income are consistent with previous guidance for low-to-medium double-digit top-line growth.”

Mr. Chen went on to say, “For the fiscal year ending December 31, 2010, we issue new guidance for total sales revenue of approximately $182 million to $190 million. This would represent an increase of 25%-30% for 2010 over 2009 levels. We also project income of approximately $17.8 million to $19.0 million in the 2010 fiscal year.”

Currently, American Lorain Corporation is trading in the $2.98 range and has continued to produce positive news and strong financial guidance. With an array of products in their pipeline, strong management and intuitive financial planning, American Lorain could become a force on Wall Street in the near future.

About QualityStocks:

QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.

Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net

The Quality Stocks Daily Stock Report http://video.qualitystocks.net

The Quality Stocks Daily Blog http://blog.qualitystocks.net

The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net

Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net

No comments: