RINO International reported its 2009 second quarter financial results yesterday after the close. Earnings per share were $0.39, exceeding analyst estimates by $0.01. Regardless, the stock was down sharply in extended hours trading and continued into today's trading session. The GeoTeam® is speculating that the street had hoped for a bigger earnings per share number, although the stock had been in a bullish up trend over the past several weeks, briefly surpassing the GeoTeam® potential valuation scenarios on August 6, 2009. The company has reiterated its 2009 revenue guidance of $176.5 million. A drop in RINO International shares may present a short-term trading opportunity.
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