NEW YORK ( TheStreet) -- China Wind Systems (CWS), Puda Coal (PUDA) and China Biologic Products (CBPO - Get Report) -- three companies that reported results before market open Monday -- topped analysts' estimates.
China Wind Systems manufactures and sells high-precision forged rolled rings for the wind power and other industries. The company also manufactures and sells textile dyeing and finishing machines in China. The company reported second-quarter earnings of 12 cents per share, beating analysts' estimates of 10 cents per share. Revenues surged 40% year-over-year to $19 million.
Looking forward to fiscal year 2010, the company reaffirmed its revenue guidance in the range of $76.5 to $85 million, while earnings are expected to range between $15.5 million and $16.3 million.
Moreover, the company is in advanced stages of discussions with several wind power component clients to supply shafts and forged products in the second half of 2010. The company believes that the Chinese government's commitment to invest $737.5 billion in new energy would benefit the wind energy sector in China.
Puda Coal is a supplier of high-grade metallurgical coking coal to the industrial sector in China. The company reported second-quarter earnings of 36 cents per share, topping analysts' estimates of 24 cents per share. Revenues soared 72% year-over-year to $82.3 million driven by higher sales volume coupled with higher average selling price.
During the quarter, gross margins almost doubled to 14.7% from 7.5% a year earlier. Also, the company acquired 100% assets and mining rights of the Da Wa Coal and Guanyao Coal mines in Pinglu County for $42.0 million.
China Biologic Products is a biopharmaceutical company engaged in the research, development and manufacturing of plasma-based pharmaceutical products in China. The company reported second-quarter earnings of 49 cents per share, topping analysts' estimates of 36 cents per share. Revenues increased 23% year-over-year to $40.9 million.
Furthermore, the company reaffirmed its 2010 revenue guidance range of $142 million to $149 million, and adjusted net income range of $34 million to $36 million.
Apart from these three companies,
(LONG - Get Report)
are expected to report results after market close Monday.
eLong is expected to report earnings of 4 cents per share, Perfect World is expected to report earnings of 69 cents per share, and RINO International's earnings are estimated to be 42 cents per share.
On Aug. 13, BNP Paribas reiterated a buy rating on Perfect World with price target of $40, while Rodman & Renshaw reiterated a market outperform rating on RINO with price target of $40.