City Telecom (NASDAQ:CTEL)

2011 Interim Results:

• Net profit up 44.0% year-on-year to HK$167.6 million with basic earnings per share amounted to HK$21.9 cents versus HK17.3 cents for same period last year
• Declared an interim dividend of HK15 cents per ordinary share, up 131% from HK6.5 cents per ordinary share for same period last year
• Core EBITDA increased by 16.7% year-on-year to HK$301.6 million
• Turnover grew by 5.1% year-on-year to HK$825.9 million driven by higher revenue contribution from our Fixed Telecommunications Network Service (FTNS) business of 7.6% year-on-year to HK$727.2 million
• For six months to 28 February 2011, broadband subscription increased by 25,000 net additions to 551,000, dominating 68% of total estimated market growth of 37,000

Chairman of the Group, Mr. Ricky Wong ("Mr. Wong"), said, "First of all, I would like to thank my talented team for their hard work and their contribution to the splendid performance of our Group for 1H FY2011. I expect that the financial performance for 2H FY2011 will be equally satisfactory."

We are removing City Telecom Hk Ltd from the GeoSpecial on the Radar List.

Added to the GeoSpecial on the Radar list  on September 21, 2009 @ $6.25.

Peak performance: Reached a high of  $17.74 on April 6, 2010 .
Current road block: EPS estimates for 2010 and 2011 are forecasted to drop 7.2% and 7.9%, respectively.
Current Price: $12.71

We are removing City Telecom Hk Ltd from the GeoSpecial on the Radar List due to a sub par EPS growth outlook.