Liandi Clean Tech (OTC BB:LNDT)

GeoProfile
Overview
GeoResearch
Message Board
Alerts Log
GeoWire Log
Third party data
Quote
Level II
Historical Prices
Options
Profile
Financials
Charts
News
Filings
Insiders

Do you represent this company?

Learn how we can help increase your exposure to investors.

All Comments & Business Outlook Corporate Governance Deal Flow GeoSpecial Notes Investor Presentations Legal Insights Liquidity Requirements Share Structure

Tuesday, February 21, 2012

LIANDI CLEAN TECHNOLOGY INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(AMOUNTS EXPRESSED IN US DOLLAR)

(Unaudited)

	Three months ended December 31,						Nine months ended December 31,
	2011			2010			2011			2010
NET REVENUE:
Sales and installation of equipment	$	61,504,266		$	32,788,437		$	83,893,332		$	72,819,724
Sales of software		2,187,631			8,392,673			11,080,248			11,198,472
Services		1,261,546			62,497			3,616,454			1,200,205
Sales of industrial chemicals		-			6,837,715			12,026,140			15,328,225
		64,953,443			48,081,322			110,616,174			100,546,626
Cost of revenue:
Cost of equipment sold		(52,282,829	)		(27,378,949	)		(70,852,286	)		(58,714,285	)
Amortization of intangibles		(160,741	)		(153,124	)		(476,628	)		(453,239	)
Cost of software		(97,560	)		(5,456,475	)		(1,767,606	)		(5,456,475	)
Cost of industrial chemicals		-			(6,358,085	)		(11,156,356	)		(14,155,203	)
		(52,541,130	)		(39,346,633	)		(84,252,876	)		(78,779,202	)
Gross profit		12,412,313			8,734,689			26,363,298			21,767,424
Operating expenses:
Selling expenses		(639,837	)		(1,469,985	)		(1,704,996	)		(2,040,806	)
General and administrative expenses		(818,927	)		(700,800	)		(2,364,543	)		(2,495,856	)
Research and development cost		(111,076	)		(65,743	)		(333,275	)		(194,596	)
Total operating expenses		(1,569,840	)		(2,236,528	)		(4,402,814	)		(4,731,258	)
Income from operations		10,842,473			6,498,161			21,960,484			17,036,166
Other income (expenses), net
Interest income		16,950			48,029			39,303			107,776
Interest and bank charges		(113,094	)		(110,385	)		(478,842	)		(370,718	)
Exchange gains (losses), net		(325,132	)		(520,400	)		(1,192,338	)		(647,338	)
Value added tax refund		-			1,556,024			-			1,926,635
Gain on deconsolidation of subsidiary		-			-			30,407,821			-
Other		454			237,655			118,690			536,745
Total other income (expenses), net		(420,822	)		1,210,923			28,894,634			1,553,100
Income before income tax		10,421,651			7,709,084			50,855,118			18,589,266
Income tax expense		(1,311,368	)		(25,886	)		(10,255,191	)		(110,532	)
Income before equity in earnings of equity method affiliate		9,110,283			7,683,198			40,599,927			18,478,734
Equity in earnings of equity method affiliate		691,934			-			600,393			-
NET INCOME		9,802,217			7,683,198			41,200,320			18,478,734
Losses (income) attributable to noncontrolling interests		-			(49,156	)		80,823			(173,586	)
Net income attributable to LianDi Clean stockholders		9,802,217			7,634,042			41,281,143			18,305,148
Preferred stock deemed dividend		-			(1,059,568	)		-			(3,011,412	)
Preferred stock dividend		(345,745	)		(453,464	)		(1,061,322	)		(1,425,061	)
Net income available to common stockholders	$	9,456,472		$	6,121,010		$	40,219,821		$	13,868,675

Net income attributable to LianDi Clean stockholders	$	9,802,217	$	7,634,042	$	41,281,143	$	18,305,148

Other comprehensive income attributable to LianDi Clean stockholders:
Foreign currency translation adjustment		749,128		594,122		3,061,074		1,307,917

Comprehensive income attributable to LianDi Clean Stockholders		10,551,345		8,228,164		44,342,217		19,613,065

Comprehensive income attributable to non-controlling interests		-		115,923		9,531		300,835

TOTAL COMPREHENSIVE INCOME	$	10,551,345	$	8,344,087	$	44,351,748	$	19,913,900

Earnings per share attributable to LianDi Clean stockholders
Basic	$	0.30	$	0.20	$	1.28	$	0.47
Diluted	$	0.27	$	0.20	$	1.13	$	0.46

Weighted average number of shares outstanding
Basic		31,546,651		30,037,555		31,416,270		29,697,566
Diluted		36,444,850		30,149,326		36,444,850		30,040,773

GeoTeam® Note: Third quarter Adjusted EPS was $0.27 vs $0.21

Permalink

Post a comment

Wednesday, November 16, 2011

Second Quarter 2011 Results

SUMMARY FINANCIALS

Second Quarter Fiscal 2012 Results (USD) (Unaudited)
(Three months ended September 30,)	Q2 2012	Q2 2011	CHANGE
Sales⁽¹⁾	$29.0 million	$43.3 million	-33%
Gross Profit	$8.9 million	$9.1 million	-2%
Gross Margin	30.6%	20.9%	+46%
Net Income (Available to Common Stockholders)	$36.1 million	$6.0 million	+502%
Adjusted Net Income⁽²⁾ (Available to Common Stockholders)	$5.7 million	$6.8 million	-16%
GAAP EPS (Diluted)	$1.00	$0.20	+400%
Adjusted EPS (Diluted)⁽²⁾	$0.17	$0.20	-15%

"We are satisfied with our performance for the second quarter and the first half of our fiscal year 2012," began Jianzhong Zuo, Chairman and CEO of the Company. "While equipment sales were down, our high margin software and technical services sales grew significantly. While our revenue for equipment sales varies significantly on a quarterly basis, due to the fully completed method used for revenue recognition for this business segment, we are confident this business will show solid results for the full year. Furthermore, we believe the progress we made in software and technical services is just the beginning of a long term trend as the benefits from our investment in the Beijing HongTeng software and technical service subsidiary becomes more apparent."

Backlog of unfilled orders was approximately $50.95 million on September 30, 2011. An additional backlog of approximately $11.63 million was confirmed as of November 15, 2011.

Fiscal year 2012 Guidance

Due to Management's assessment to deconsolidate Anhui Jucheng on August 30, 2011, and the expected completion date of the new production line of Anhui Jucheng, management has revised its fiscal 2012 guidance provided on April 11, 2011. We expect to achieve approximately $148 million of net revenue and approximately $28 million of net income in fiscal year 2012, a 15% increase on a year over year basis, excluding the effect of Anhui Jucheng.

Permalink

Post a comment

Monday, August 15, 2011

First Quarter 2012 Reuslts

For the three months ended June 30, 2011, net revenue was $16.7 million, an increase of 82.3% from $9.2 million generated in the same period of fiscal 2010, driven primarily by strong sell through of software products.
Net income attributable to LianDi common shareholders increased to $2.3 million for the three months ended June 30, 2011 from $1.8 million in the same period a year ago. Earnings per share was $0.07 and $0.06 for the three month ended June 30, 2011 and 2010, respectively, based on 36.4 million and 30.1 million weighted average shares outstanding, respectively.

SUMMARY FINANCIALS

First Quarter Fiscal 2012 Results (USD) (Unaudited)
(Three months ended June 30,)	Q1 2012	Q1 2011	CHANGE
Sales	$16.7 million	$9.2 million	+82%
Gross Profit	$5.1 million	$4.0 million	+28%
Net Income
(Available to Common Stockholders)	$2.3 million	$1.8 million	+27%
Adjusted Net Income*
(Available to Common Stockholders)	$2.3 million	$2.9 million	-21%
GAAP EPS (Diluted)	$0.07	$0.06	+17%
Adjusted EPS (Diluted)*	$0.07	$0.09	-22%

Our performance during the first quarter of fiscal year 2012 reflects our ability to capitalize on the rapid growth across the entire petroleum industry value chain in China which we currently service," continued Chairman Zuo, Chairman. "We have worked diligently to diversify our business, while increasing sales to existing major integrated oil customers in China and believe we have built a platform for sustained future growth. While Jucheng achieved the highest profitability since we acquired the business, our goal is to achieve further efficiencies in manufacturing and distribution which will enable us to make further margin improvements.

Fiscal year 2012 Guidance

Management has reaffirmed its fiscal 2012 guidance provided on April 11, 2011. We expect to achieve the following:

	FY 2012	Year-over-year Change

Revenue	$195.4 million	+39%
Net Income	$35.5 million	+47%

Permalink

Post a comment

Thursday, June 30, 2011

Fourth Quarter Results:

Net revenue was $40.3 million, an increase of 25% from $32.1 million generated in the same period of fiscal 2010
Gross profit was $8.0 million and gross margins were 19.9% for the quarter ended March 31, 2011, compared to $5.0 million and 15.5%
GAAP net income available to Liandi Clean's common stockholders for the fourth quarter of 2011 totaled $4.4 million. Adjusted net income available to Liandi Clean's common stockholders for the fourth quarter of fiscal 2011, excluding a $1 million deemed preferred stock dividend, was approximately $5.4 million, or $0.16 per diluted share, based on weighted average shares outstanding of 36.4 million, compared to $3.8 million, or$0.13 per diluted share

"I am pleased with the progress we achieved in 2011," stated Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of LianDi. "Our core equipment, software and technical services business generated solid growth due to robust demand from petroleum and petrochemicals companies in China. We continue to expand our relationships with Sinopec and CNPC to capture a greater share of their budgets. As we sign more agreements with leading suppliers such as ABB, we expect to grow faster than the market."

FY 2012 Guidance:

Revenue: $195.4m

Net Income: $35.5m

Permalink

Post a comment

Wednesday, April 6, 2011

2011/012 Year Guidance:

Revenue

2011: $130 million
2012: $195.4 million
50.3% yoy gain

Net Income

2011: $25 million
2012: $35.5 million
42% yoy growth

"We expect strong organic growth across each of our businesses in fiscal 2012, driven by strong demand from our two largest customers, Sinopec and China National Petroleum," began Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of LianDi. "By meeting key infrastructure needs of the largest oil and gas producers in China, we anticipate our core equipment and software businesses to be key growth conduits. We believe the addition of the sludge treatment services through our partnership with System Kikou will leverage new government mandates to provide incremental, high margin revenue. We are also excited about the long-term growth prospects for our specialty chemicals business, Anhui Jucheng, which expands our product portfolio to another market vertical. We will continue to evaluate ways to expand our product and service portfolio as we move through 2011."

Permalink

Post a comment

Tuesday, February 22, 2011

Third Quarter Fiscal 2011 Results (USD) (unaudited)
(Three months ended December 31)	Q3 2011	Q3 2010	CHANGE
Sales	$48.1 million	$16.8 million	+186.0%
Gross Profit	$8.7 million	$5.4 million	+60.4%
GAAP Net Income (Available to Common Stockholders)	$6.1 million	$4.6 million	+31.7%
Adjusted Net Income (Available to Common Stockholders)	$7.2 million(1)	$4.6 million	+54.5%
GAAP EPS (Diluted)	$0.20	$0.17	+19.5%
Adjusted EPS (Diluted)	$0.21	$0.17	+22.9%

Fiscal year 2011 Guidance

For fiscal year 2011, management reaffirmed

Revenue guidance of $130 million, representing year-over-year growth of 40.2% over fiscal 2010, and
net income guidance of approximately $25 million for fiscal year 2011, representing year-over-year growth of approximately 40%. Management expects software and the related technical service sales to contribute 8-10% of total revenues for fiscal year 2011. Guidance does not include any contribution from the oil sludge cleaning business. This is the Company's current and preliminary view, which is subject to change. The Company had 28 contracts with an aggregate value of $47 million in backlog at December 31, 2010.

Permalink

Post a comment

Wednesday, January 26, 2011

BEIJING, Jan. 26, 2011 /PRNewswire-Asia-FirstCall/ -- LianDi Clean Technology Inc. today provided a business update.

Total orders during the first nine months of fiscal year ending March 31, 2011 were $85 million, an increase of 86.4% compared to the same period last year. Equipment orders grew by 86.2% to $72.8 million.

"We continue to benefit from the strong growth in spending by the large domestic oil and gas and petrochemical companies," stated Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of the Company. "The growth in orders and contract renewals reflect the successes we have achieved to date. As our customers' needs expand and become more complex, they have consolidated more of their spending among a smaller number of trusted suppliers, which has benefited our company significantly."

Mr. Zuo continued, "Our collaboration with leading global suppliers and broad portfolio of cutting-edge products enhances our ability to drive business value and high performance for our clients. These strategic partnerships with some of the largest organizations in the oil and gas industry around the world allow us to leverage proven technology and industry solutions to optimize our services and offer our clients complete solutions to meet their business challenges. By complementing this with proprietary software and additional products and services, we seek to drive incremental revenue and earnings for 2011."

Permalink

Post a comment

Thursday, January 20, 2011

BEIJING, Jan. 20, 2011 /PRNewswire-Asia-FirstCall/ -- LianDi Clean Technology Inc. today announced it has signed an agreement with Ruhrpumpen, a leading manufacturer of pumps located in Witten, Germany, to become a distributor of Ruhrpumpen's products in China. Ruhrpumpen, with manufacturing or sales offices in six countries located on four continents, is a leading manufacturer of pumps and pumping technologies for a variety of industries, including oil and gas.

"We are delighted to have Ruhrpumpen as our new distribution partner in Asia," explained Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of the Company. "This agreement allows us to expand into pump solutions, a more than $1.5 billion market in the oil and gas and petrochemical industry and a new product offering for LianDi. By combining Ruhrpumpen's broad product portfolio with our strong relationships and servicing capabilities, we believe we are well positioned to capture a larger share of the Chinese oil refiners' rising capital expenditures."

Permalink

Post a comment

Monday, August 16, 2010

Fiscal Quarter of 2011:

Revenue increased 27.7% to $9.2 million.
Gross margins improved 1540 basis points to 43.4%.
Net income increased 156.1% to $3.4 million.
Adjusted EPS (Diluted) of $0.09 vs. $0.05.
Company reaffirms FY2011 guidance of $117 million in revenue and net income of $24.6 million.

"We are optimistic about meeting our 2011 fiscal year guidance, as reflected in the significant increase in our signed contracts and order backlog. Our performance during the first quarter of fiscal year 2011 reflects our ability to successfully service the needs of our petroleum and petrochemical based customers located throughout China. As the industry continues its growth trend, LianDi's products, technical services and optimization software allow companies to produce, distribute and handle petroleum based products more efficiently and in ways that are safer for the environment."

"We are currently advancing several large development projects which will drive future incremental revenue growth. In addition, we are making further progress with our DeltaValve initiative focused on building and installing unheading units used in the delayed coking process, which will be the first of their kind in China.

Fiscal year 2011 Guidance

For fiscal year 2011 management reaffirmed:

Revenue guidance of $117 million, representing year-over-year growth of 50.6% over fiscal 2010.
Net income guidance of approximately $24.6 million for fiscal year 2011, representing year-over-year growth of approximately 58.7%.
Management expects software sales to contribute 8 to 10% of total revenues for fiscal year 2011.

We had 34 contracts with an aggregate value of $60.3 million in our backlog at June 30, 2010, representing a 100% and 82% increase year-over-year, respectively.

Permalink

Post a comment

Thursday, June 3, 2010

Outlook from the March 5, 2010 release

For full fiscal years 2010 and 2011, respectively, China LianDi provided

Revenue guidance of $70.2 million and $116.7 million, representing year-over-year growth of 124% for fiscal 2010 and 60% for 2011.
Net income guidance of approximately $15.1 million for fiscal year 2010 and $25.0 million for 2011, representing year-over-year growth of approximately 113% and 66% for the respective years.

"We look forward to meeting the needs of our many valued petroleum and petrochemical customers as China increases its crude oil exploration and consumption, and as refiners are required to implement clean solutions which improve production efficiencies while helping the environment," added Mr. Zuo. "By the fall of 2010, we expect to have our first installation of our totally enclosed unheading units, which are being developed through a partnership with DeltaGuard for the delayed coking process, and are the first of their kind in China. We are constructing a manufacturing facility to assemble and customize various products in our distribution portfolio, while creating the necessary capacity to produce the new unheading units. These new facilities will be a key component to support future growth."

Permalink

Post a comment