Cleantech Solutions International Inc. (CLNT) Q2 2012 Earnings Call August 15, 2012 9:00 AM ET Executives Elaine Ketchmere – IR Adam Wasserman – VP, Financial Reporting Presentation Operator
Cleantech Solutions International (CLNT) has been downgraded by TheStreet Ratings from Buy to Hold with a ratings score of C+.
Cleantech Solutions International (Nasdaq:CLNT) has been upgraded by TheStreet Ratings from a hold to buy.
Cleantech Solutions (CLNT) soared Monday after the metal components manufacturer reported its fourth-quarter results. Revenue increased 29.4% year over year to $22.8 million from $17.6 million mostly due to sales of the company's dyeing and finishing equipment thanks to the demand for Cleantech's low-emission airflow dyeing machines. Net income increased to $2.1 million, or 60 cents per basic and diluted share, from $0.5 million, or 17 cents per basic and diluted share, in the same period one year earlier. Operating expenses decreased 10.7% year over year to $3.1 million from $3.5 million, while operating income increased to $2.8 million from $0.7 million. Operating margin was 12.2% compared to 4.1% in the same period one year earlier. Adjusted EBIDTA rose year over year to $7.3 million from $4.8 million.