China Direct Industries, Inc. (NASDAQ: CDII)
Recent Price: $1.18
China Direct is trading at we believe to be a bargain-basement level and is poised to soar in 2010. With predicted revenues ranging from $130 to $150 million... Don’t miss your opportunity to profit
from a performing NASDAQ Company
Breaking News: China Direct Industries Provides Financial Outlook for Fiscal 2010 Ending September 30, 2010.
Read the entire Press Release Here
This morning, China Direct Industries, Inc. (NASDAQ: CDII) announced financial outlook for its fiscal 2010 year ending September 30, 2010. The company is a a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials.
As a result of improved visibility in the operations of its subsidiaries in China, coupled with continued price stabilization and improvement in demand in its magnesium segment, management has decided to reinitiate providing an annual financial outlook. Management sees improvement across all its business areas resulting in revenues for the full fiscal year of 2010 ranging between $130 and $150 million with net income ranging from $8 to $10 million. This guidance is predicated on management’s belief that magnesium prices and demand will continue to gradually improve in the fiscal year. Management also believes its consulting operations will improve significantly as global markets continue to strengthen for small to medium sized Chinese entities.
Commenting on its outlook, Dr. James Wang, Chairman and CEO of China Direct Industries, Inc. stated, “We have navigated the company through unprecedented difficulties and have worked diligently to remain in a solid financial position with operations capable of resuming growth when markets improved. We believe that that time is on hand in 2010 and we intend to work diligently on a return to profitability and a resumption of growth for all our businesses in China and the U.S. We are confident in our ability to deliver and optimistic that our end markets will continue to solidify and improve as we move throughout fiscal 2010.”
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