China Electric Motor
said late Friday it had second-quarter earnings of 20 cents a share on revenue of $25.3 million, coming in ahead of the consensus target for earnings of 15 cents a share on revenue of $22.1 million.
China Electric Motor, which held its initial public offering earlier this year, said it expects to earn 20 cents to 22 cents a share in the third-quarter on revenue of $30 million to $31.5 million. For the full year, China Electric Motor said it expects net income in a range of $17.2 million to $18.5 million on revenue of $110 million to $120 million, noting a delay in the government approval of the company's tax reduction application in 2010.
Shares of China Electric Motor jumped by 24 cents, or 4.9%, to $5.12 in Friday's after-market trading session. The average daily share volume for China Electric Motor is 101,000.
slumped by 30 cents, or 5.5%, to $5.14 in Friday's late trading session after the company said CEO Bruno Guilmart has resigned effective Sept. 4 to pursue other opportunities. Christopher Fanning has been appointed as interim CEO. The average daily share volume for Lattice Semiconductor is 2.26 million.
may see increased volume after the company posted a second-quarter loss of 3 cents a share on revenue of $68.35 million, compared to the consensus estimate for earnings of a penny a share on revenue of $62.67 million. The average daily share volume for Vantage Drilling is 3.19 million. The stock closed Friday at $1.36.
-- Written by Robert Holmes in Boston
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