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Cogo Group, Inc. Fourth Quarter 2010 Preliminary Results: Reports Highest Quarterly Revenue and Non-GAAP EPS in Company History

SHENZHEN, China Feb. 1, 2011 China December 31, 2010 $113.5 million

Jeffrey Kang $20 billion $1 billion

$9.3 million $0.24 $0.19 $4.6 million $0.12 $0.11

$95-$100 million $0.19 $1-$2 million

Mr. Kang said, "I remain very encouraged by the Cogo team’s strong execution. Our revenue growth in the fourth quarter of 2010 was the highest quarterly growth rate we posted all year and our order visibility into 2011 is strong. We see tremendous opportunities across a wide range of fast growing end-markets, including Automotive, Smart Meter/Grid, Health Care, Tablets, 3G Smartphones, HDTV and High Speed Railways. The closing of the MDC Tech acquisition provides us with a strong foothold in two fast growing Industrial markets: Health Care and Smart Grid. "

4:30 p.m. Eastern Time Tuesday, February 1, 2011 March 2011

Cogo 2010 Q4 Preliminary Earnings Results Conference Call

Date/ Time:

February 1, 2011 (Tuesday) @ 4:30 PM (ET)

Conference Call:

US/ Canada Toll-Free: 1-877-941-1427

International: +1-480- 629-9664

Webcast/ Audio Recording:

http://viavid.net/dce.aspx?sid=00008 18

Replay (from 02/01/2011 at 7:30 pm to 02/08/2011 at 11:59 pm ET):

US/ Canada Toll-Free: 1-800-870-5176 (Passcode: 4401144)

International: +1 -858-384-5517 (Passcode: 4401144)

About Cogo Group, Inc.:

China blue-chip China

For further information:

Investor Relations

www.cogo.com.cn/investorinfo.html

[email protected]

H.K.:

+852 2730 1518 

U.S.:

+1 (646) 291 8998

Fax:

+86 755 2674 3522

Safe Harbor Statement:

www.sec.gov

About Non-GAAP Financial Measures:

To supplement Cogo’s consolidated financial results presented in accordance with GAAP, Cogo uses the following measures defined as Non-GAAP financial measures by the SEC: 1) Non-GAAP net income attributable to Cogo Group, Inc., which is net income attributable to Cogo Group, Inc. excluding share-based compensation expense and acquisition related costs, net, such as amortization, impairment and extraordinary gain of intangible assets, related deferred taxation and impairment of goodwill, 2) Non-GAAP diluted earnings per share attributable to Cogo Group, Inc., which is diluted earnings per share attributable to Cogo Group, Inc. excluding share-based compensation expense and acquisition related costs, net, such as amortization, impairment and extraordinary gain of intangible assets, related deferred taxation and impairment of goodwill. The presentation of these Non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these Non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of Non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.

Cogo believes that these Non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expense and acquisition related costs, net, such as amortization, impairment and extraordinary gain of intangible assets, related deferred taxation and impairment of goodwill that may not be indicative of its operating performance from a cash perspective. Cogo believes that both management and investors benefit from referring to these Non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These Non-GAAP financial measures also facilitate management’s internal comparisons to Cogo’s historical performance. Cogo computes its Non-GAAP financial measures using the same consistent method from quarter to quarter. Cogo believes these Non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using Non-GAAP net income attributable to Cogo Group, Inc. and Non-GAAP diluted earnings per share attributable to Cogo Group, Inc. is that these Non-GAAP measures exclude share-based compensation expense and acquisition related costs, net, such as amortization, impairment and extraordinary gain of intangible assets, related deferred taxation and impairment of goodwill that have been and will continue to be for the foreseeable future a recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each Non-GAAP measure. The accompanying table has more details on the reconciliations between GAAP financial measures that are most directly comparable to Non-GAAP financial measures.

Table Attached

COGO GROUP, INC.

UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES

For the
quarter ended

For the
quarter ended

For the
quarter ended

Dec 31, 2010

Sep 30, 2010

Dec 31, 2009

(unaudited)

(unaudited)

(unaudited)

Net i ncome

$ ‘ million

$ ‘ million

$ ‘ million

GAAP net income attributable to Cogo Group, Inc.

4.6

4.7

4.3

Share-based compensation expense

7.6

2.6

2.2

Acquisition related (gain)/ costs, net – amortization, impairment and extraordinary gain of intangible assets , related deferred taxation and impairment of goodwill

(2.9)

0.7

0.7

Non-GAAP net income attributable to Cogo Group, Inc.

9.3

8.0

7.2

Earnings per share

$

$

$

GAAP net income attributable to Cogo Group, Inc. per common share-Diluted

0.12

0.12

0.11

Share-based compensation expense per common share – Diluted

0.20

0.07

0.06

Acquisition related (gain)/ costs, net, per common share – Diluted

– amortization, impairment and extraordinary gain of intangible assets, related deferred taxation and impairment of goodwill

(0.08)

0.02

0.02

Non-GAAP net income attributable to Cogo Group, Inc. per common share-Diluted

0.24

0.21

0.19

SOURCE Cogo Group, Inc.

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