The company reported a 302% revenue boost to $28.9 million from $7.2 million. Net income surged to $8.2 million from $2.3 million. Earnings per share soared 260% year-over-year to 18 cents from 5 cents.
The stock was up 76.79% to $3.96 at 11:22 a.m.
Separately, TheStreet Ratings team rates CHINA HGS REAL ESTATE INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHINA HGS REAL ESTATE INC (HGSH) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, poor profit margins and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: HGSH Ratings Report
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.