1. China Marine Food Group (CMFO), engages in the processing, distribution and sale of processed seafood-based snack foods, as well as the sale of fresh and frozen marine catch. The company conducts its primary business operations through its wholly owned unit Ocean Technology and four other subsidiaries.
Total revenue for the first quarter of 2011 was reported at $26.7 million, increasing 35.7% from the year-ago quarter. Net income generated during the quarter grew 43.1% to $5.6 million, or 19 cents per share. This compares to $3.9 million, or 16 cents per share, in year-ago quarter. Gross margins for the quarter expanded 250 basis points to 36.1%. At the end of March, the company had $35.2 million in cash vs. $15.6 million at the end of December 2010.
The company reaffirms its revenue for fiscal 2011 at more than $150 million, up 22.3% from the previous year. Meanwhile, CMFO forecasts consolidated adjusted net income at $27.3 million, surging 16.1% year-over-year, and adjusted earnings per share rising 14.8% to 93 cents. Additionally, the company plans to invest 6% to 7% of sales to promote its Mingxiang snack foods and expand distribution for its Hi-Power beverages.
Both the analysts covering the stock, recommend a buy. There are no sell ratings on the stock. On average, analysts estimate 298.4% upside to $10 in value from current levels.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV