SEATTLE, June 15 /PRNewswire-FirstCall/ -- L & L Energy, Inc., ("L&L" or "the Company") (Nasdaq:LLEN - News), a U.S.-based company operating coal businesses in China, today announced that L&L has been added to the Russell 3000® Index according to a preliminary list of additions posted June 11, 2010 on Russell's website: www.russell.com.CEO Dickson Lee stated, "We are very pleased to be included in the Russell 3000 Index. Our inclusion in this widely-referenced index will help increase our visibility to institutional investors. We feel the inclusion in the Russell 3000 Index is validation of our strategy which we will continue to expand on, to bring in sales and net profit in the future."
About The Russell 3000
The Russell Indexes are often referenced by institutional investors for index funds and are used as benchmarks for both passive and active investment strategies. Inclusion in the various Russell Indexes is determined by market capitalization.
The Russell 3000 Index is constructed to provide a comprehensive barometer of the broad market, to ensure new and growing equities are reflected.
About L & L Energy, Inc.
Founded in 1995 and headquartered in Seattle, L&L (http://www.LLEnergyInc.com) focuses on serving the vast energy needs of the Chinese market. L&L currently operates three profitable coal mines, two coal washing facilities, a coking coal facility, and a coal consolidation and wholesale business in the Yunnan and Guizhou Provinces of China.
LLEN had another very strong quarter, with revenue of $38.0 million and diluted EPS of $0.34. During the quarter, the Company acquired the Ping Yi Coal Mine, the ZoneLin Coal Coking facility, and the HongXing Coal Washing facility. We are closely examining the acquisitions and their potential contributions which we will report on in our forthcoming research update. However, we have little doubt that LLEN will continue to make aggressive acquisitions in the coming quarters for which additional capital will be required. We remain bullish on Len’s short- and long-term prospects, and are currently revising our estimates model.
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L&L Energy is a coal producer with operations in southern China. The stock is up over 100% in the last 6 months. Revenue for the 9 months ended Jan 31, 2010 was $75 million, up from $31 million the previous 9 months. Net income for the first nine months of fiscal 10 was $19.2 million, up from $6.7 million for the same period in 2009. Explosive growth in the right sector. This stock could be $25.00 12 months out.
Overview
Formed to serve the vast energy needs of the Chinese market, L & L Energy, Inc. (“LLEN” or the “Company”), is a U.S.-based company focused on coalrelated businesses in China. The Company currently operates three profitable coal mines, three coal washing facilities, a coking coal facility, and a coal consolidation and wholesale business in Yunnan province, China. LLEN is headquartered in Seattle, Washington.
Formed to serve the vast energy needs of the Chinese market, L & L Energy, Inc. (“LLEN” or the “Company”), is a U.S.-based company focused on coalrelated businesses in China. The Company currently operates three profitable coal mines, three coal washing facilities, a coking coal facility, and a coal consolidation and wholesale business in Yunnan province, China. LLEN is headquartered in Seattle, Washington.
Investment Highlights- Quarterly revenues increased by 280% year-over-year to $38.0 million in 3QFY10 up from $10.0 million in the same period last year.
- Quarterly net income increased by 441% year-over-year to $9.6 million in 3QFY10 up from $1.8 million in 3QFY09.
- China is the world’s largest producer and consumer of coal. 70% of China’s energy production comes from coal.
- On February 18, 2010, LLEN commenced trading on the NASDAQ Global Market. The uplisting has increased market visibility and improved liquidity for shareholders.
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