XING today...............

9:40AM Qiao Xing expected increase in net sales, gross profit and income from operations of 23%, 66.7% and 243.9%, respectively, from those for 2004: Co expects 2005 rev to be over $300.0 mln vs $323.6 mln single analyst estimate. This would represent a growth of 23.0% from last year's $244.0 mln. The last quarter of a year is usually better than the other quarters. From Jan to Sept 2005, XING have achieved rev of $210.8 mln, with a quarterly average of $70.3 mln. They expect to make about $90 mln for the final quarter (Q4 single analyst estimate of $100 mln), which means an increase of about 27% from the quarterly average of the first nine months. They anticipate gross profit margin of 15.0% for the whole year of 2005, compared with 11.1% for 2004. This would mean a forecast gross profit of $45.0 mln for 2005 compared with $27.0 mln for last year. They expect income from operations (before other income/expenses, interest, tax, minority interests and extraordinary items) to reach over $28.2 mln for 2005.