PennyPerformers.com: "Penny Stocks that Perform" picks are: APWR, CSCO, UNDT
Jun 16, 2009 (M2 PRESSWIRE via COMTEX) --
Companies: A-Power Energy Generation Systems Ltd (APWR), Cisco Systems, Inc. (CSCO), Universal Detection Technology (UNDT)
Pennyperformers.com "Penny Stocks that Perform" picks are: A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR), Cisco (NASDAQ: CSCO), Universal Detection Technology (OTCBB: UNDT).
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Jun 16, 2009 -- A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR) ("A-Power" or "the Company"), a leading provider of distributed power generation ("DG") systems in China and a fast-growing manufacturer of wind turbines, today announced its unaudited financial results for the first quarter ended March 31, 2009.
Financial Highlights -- Revenues were $31.2 million vs. $32.3 million in 1Q08 -- Gross margin was 12.6% vs. 11.9% in 1Q08 -- Cash flow from operations was $15.7 million vs. $2.8 million in 1Q08 -- Cash on hand at March 31, 2009 was $60.6 million vs. $43.5 million at December 31, 2008 -- For the year 2009, A-Power raises its revenue guidance from $290 million to $320 million; and its net income guidance from $29 million to $32 million
"The first quarter is typically slow for us due to seasonality and weather conditions in the northeast region of China," said Mr. Jinxiang Lu, A-Power's Chairman and CEO. "However, we managed to forge strategic partnerships, including with GE Drivetrain Technologies, improve our cash flows and strengthen our cash position during the slow winter months. As we are poised for expansion, we have also been closely monitoring our G&A expenses."
Mr. Lu continued, "During the second quarter, we are continuing to sign DG contracts and extending our track record in China's power market. And I am very pleased to announce that we have arranged the shipment of the first two units of the 2.7MW wind turbine, made with Fuhrlander's technology and main components from Europe. They are expected to be completed for delivery by the end of July. We are gradually ramping up our production to meet the growing demand for the larger, more advanced, and more reliable wind turbines, as more and more Chinese wind farm developers are looking to increase power generation capacity. And our existing relations with GE, Fuhrlander, Norwin and several domestic, emerging Chinese wind component makers like Jiangsu Miracle, plus our experience and relationships in China's power market in general, position us to benefit well from this emerging trend of bigger and better wind turbines in China."
First Quarter 2009 Results
For the three months ended March 31, 2009, A-Power's revenues were $31.2 million, compared with $32.3 million in the first quarter of 2008. Revenues were roughly flat because of seasonality and weather conditions in Northeast China.
Gross profit was $3.9 million, about the same as the first quarter of 2008. Gross margin was 12.6%, compared with 11.9% in the first quarter of 2008. Gross margin in 1Q09 was affected by seasonality. A-Power expects its long-term gross margin for its DG business to stay at 12%-14%.
General and administrative ("G&A") expenses were $2.6 million, compared with $1.0 million in the first quarter of 2008. G&A as a percentage of revenues was 8.2%, compared with 3.2% in the first quarter of 2008. A-Power incurred higher G&A as a newly listed company, including professional consulting fees, salaries, stock-based compensation, insurance, office rentals, and other miscellaneous costs associated with being a public company.
Operating income was $1.4 million, compared with $2.8 million in the first quarter of 2008.
Net income was $1.5 million, compared with $2.9 million the first quarter of 2008.
Diluted earnings per share were $0.04, compared with $0.14 in the first quarter of 2008. For the first quarter of 2009, the weighted average number of shares on a fully diluted basis was 34.7 million as compared to 20.3 million in the same period of 2008.
Balance Sheet Highlights
As of March 31, 2009, A-Power had cash and cash equivalents of $60.6 million, compared with $43.5 million at December 31, 2008.
Total shareholders' equity rose to $157.5 million at March 31, 2009, from $156.0 million at December 31, 2008.
As of March 31, 2009, the Company recorded no short-term or long-term bank loans.
Recent Developments
On June 16, 2009, A-Power announced it has signed an agreement with Jinzhou Jinxia New Energy Co., Ltd. to ship two units of A-Power's 2.7MW wind turbines, with technology licensed from Germany's Fuhrlander AG and main components sourced from Europe, by the end of July 2009. The turbines will be installed in Daxinglong Mountain Wind Power Generation Plant in Jinzhou City, Liaoning Province. These units will mark A-Power's first shipments in the wind turbine business.
On June 16, 2009, A-Power announced it was briefed on a Shenyang government plan to invest a total of $44 million (RMB 300 million) in seed capital in Shenyang Power Group ("Shenyang Power"), the newly formed local DG industry alliance spearheaded by A-Power and joined by power industry conglomerates to pursue large-scale electricity-generation projects both within and outside China. In addition, the Shenyang government will also appoint a local Chinese bank and a local guaranty company to participate in the Shenyang Power alliance. A-Power is the lead investor in Shenyang Power and now owns 60% after today's investment by the Shenyang government.
On June 16, 2009, A-Power announced it has signed a contract with Sanmenxia New Energy Bio-Electricity Co., Ltd. to build electricity-generation systems using biomass as fuel in Henan Province of China. The project is expected to be completed by October 2010 and the total value of the contract is estimated to be $14.1 million (RMB 96 million).
Business Outlook
A-Power adjusted upward its revenue and after-tax net income guidance for 2009. The Company expects its revenue and after-tax net income to be at least $320 million and $32 million, respectively, for the year 2009. The revenue and after-tax net income guidance was revised from $290 million and $29 million, respectively. These targets are based on the Company's current signed DG contracts, which are subject to change based on customer payment and construction schedules. A-Power expects that it will from time to time provide periodic updates as additional major DG contracts, and wind turbine sales, are confirmed. A-Power expects that it will from time to time provide period updates when additional major DG contracts and wind turbine sales are confirmed.
Mr. Lu concluded, "A-Power in the near term has a two-pronged approach to growing its business: with the strong support from the Shenyang government, we are working to fully utilize the resources afforded by the recently formed industry alliance, Shenyang Power Group, to pursue large-scale, technologically advanced and managerially sophisticated DG and micro-grid systems both within China and overseas. Secondly, we are focused on rolling out the largest wind turbine in China - the 2.7MW grade - and ensuring its performance and its timely delivery to our customers. While we execute our plans in these two growth areas, with the help of our newly appointed CFO and COO, we are also aiming to smooth our revenues from quarter to quarter and keep expenses under control."
Conference Call
A-Power will host a conference call, to be simultaneously Webcast, on Tuesday, June 16, at 8:00 a.m. Eastern Daylight Time or 8:00 p.m. Beijing Time. Interested parties may participate in the call by dialing +1-866-272-9941 (North America) or +1-617-213-8895 (International), passcode: 56974649 (no pre-registration required), approximately 10 minutes before the call start time. A live Webcast of the conference call will be available on the Company's Website.
A replay of the call will be available starting on June 16, 2009, at 11:00 a.m. Eastern Daylight Time or 11:00 p.m. Beijing Time through July 15, 2009. An archived Webcast of the conference call will be available on the Company's Website. Interested parties may access the replay by dialing +1-888-286-8010 (North America) or +1-617-801-6888 (International) and entering passcode 57219536.
Jun 16, 2009 -- Cisco (NASDAQ: CSCO) -- Sheridan Institute of Technology & Advanced Learning today announced the successful deployment of an automated, comprehensive security and safety notification system based on Cisco Unified Communications technology. The system, called SIREN (Sheridan Incident Response and Emergency Notification) is the first of its kind in North America.
Sheridan serves approximately 15,000 full-time students across three campuses located in Oakville and Brampton. SIREN is designed to ensure that, in the event of an emergency or security situation, the college is able to quickly and efficiently assess the situation, speed executive decision-making and notify the Sheridan community.
The ability to collaborate and share information quickly is key to the success of the newly implemented system. By leveraging Sheridan's network infrastructure, the Cisco Unified Application Environment (UAE) and custom applications and integration from UNIS LUMIN, Sheridan is able to effectively and efficiently share information in a number of ways.
In the event of a potential, imminent or actual emergency, the system is activated and students, faculty, staff and visitors in select locations or across all three of Sheridan's campuses will be alerted immediately via:
-- Cisco Unified IP Phones: Text-to-speech messages can be sent to the phones located in each office, classroom and throughout the campuses -- Digital signage: Located across all campuses, emergency teams can broadcast audio or text updates -- Paging systems: Important information and updates can be broadcast throughout all campuses or in select zones -- Text messages: Information can be sent to cell phones, PDAs and email accounts -- Sheridan website: Messages can be instantly posted to the home page -- SIREN will also automatically connect members of the Sheridan Executive Team through a conference bridge line.
This technology solution positions Sheridan as an innovative leader in the adoption of Cisco Unified Communications and Cisco Unified Application Environment technologies. Cisco UAE is a rich portfolio of ready-to-use packaged applications that allows customers to integrate unified communications into other business applications, as well as build custom applications.
Highlights/Key Facts:
-- Sheridan Institute has launched a new, fully integrated Sheridan Incident Response and Emergency Notification System (SIREN) to inform and help protect students, faculty and staff across its three campuses.
-- The emergency system, based on Cisco Unified Communications, runs on the Cisco Unified Application Environment with a custom application and integration from UNIS LUMIN.
-- This implementation is the first Cisco UAE application of its kind in North America.
-- Collaboration and sharing information is a core component of the newly implemented system, providing the Sheridan community with information immediately in a variety of ways.
-- In the case of a natural disaster, severe weather situation, violent incident, fire or medical emergency, the system may be activated to inform and direct the Sheridan community and help assist in the coordinated response to the incident.
-- Once triggered, students, faculty, staff and visitors from across all three of Sheridan's campuses or in select locations will immediately be alerted via Cisco Unified IP Phones in each office/classroom; digital signage; paging systems; and email and text-to-speech messaging.
-- The Sheridan Executive Team will be proactively contacted in the event of an incident, automatically connecting all parties to a conference bridge line.
-- Sheridan Institute, a leading adopter of technology in the education space, was one of Cisco's first IP telephony customers in Canada in 2000.
SIREN leverages Sheridan's long-standing investment in Cisco Unified Communications, further demonstrating the scalabity and flexibility of the platform.
Quotes:
-- Robert Turner, President, Sheridan Institute of Technology & Advanced Learning "Sheridan is committed to helping protect and ensuring the welfare of our entire community. Sheridan was an early adopter of unified communications technology and was one of Cisco's first IP telephony customers in Canada.
With the implementation of this new system based on innovative technology from Cisco and UNIS LUMIN, we are taking advantage of that investment to ensure we're readily prepared should the unexpected occur."
-- Jeff Seifert, CTO, Cisco Canada "Sheridan Institute has demonstrated a proactive and innovative approach to emergency and security response. This unique application of the Cisco UAE solution layered on top of the College's existing Cisco network and Unified Communications platform is a North American first, setting a strong example of how Cisco Unified Communications can be used to bring safety and assurance to schools and other organizations."
-- Mauro Lollo, CTO, UNIS LUMIN "UNIS LUMIN is proud to be a part of this North American 'first,' demonstrating Sheridan's responsiveness and innovative approach to ensuring their community's safety. By combining UNIS LUMIN's advanced application engineering skills with Cisco's Unified Application Environment, Sheridan has invested in a scalable, sophisticated and unique community awareness system."
About Cisco Systems
Cisco is the worldwide leader in networking that transforms how people connect, communicate and collaborate.
Jun 16, 2009 -- Universal Detection Technology (OTCBB: UNDT), a developer of early-warning monitoring technologies to protect people from bioterrorism and other infectious health threats and provider of counter-terrorism consulting and training services, today announced that it has applied for CAGE and NSN Stock numbers for its biological detection equipment. The numbers will facilitate the sales of the items to the U.S. Department of Defense (DOD) and the North Atlantic Treaty Organization (NATO).
The DOD, which spends 75 cents of every federal government contracting dollar, has its own government contractor classification system. The Commercial And Government Entity, or CAGE, code is a five-character ID number that identifies government contractors. CAGE codes are an important part of winning federal government contracts.
The NATO Stock number (NSN) is a classification code that NATO assigns to its defense inventory. NATO affiliated countries follow common standards and techniques to assign NSNs to items of supply in their defense inventory. The National Codification Bureau (NCB) within each country centrally assigns their national NSNs. The assignment of an NSN fixes the identity of each distinctive item of supply.
"The obtaining of the CAGE and NSN codes will allow us to increase our sales to the U.S. DOD as well as the NATO affiliated countries," said Mr. Jacques Tizabi, UNDT's Chief Executive Officer. "We are planning a dedicated marketing effort for our biological detection equipment in Europe," he added.
About Universal Detection Technology
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism detection devices. The Company on its own and with development partners is positioned to capitalize on opportunities related to Homeland Security. For example, the Company, in cooperation with NASA, has developed a bacterial spore detector that detects certain biohazard substances. The Company is also a reseller of handheld assays used for detection of five bioterrorism agents, radiation detection systems, and antimicrobial products.
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Companies: A-Power Energy Generation Systems Ltd (APWR), Cisco Systems, Inc. (CSCO), Universal Detection Technology (UNDT)
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