LLEN revenue up 280% year over year
LLEN revenue up 280% year over year Date: 3/24/10 3:54 PM
! Per Yahoo stats: Profitability
Profit Margin (ttm): 25.61%
Operating Margin (ttm): 41.58%
* Quarterly revenues increased by approximately 280% year-over-year to $37.9 million.
* Quarterly Net income increased by 440% year-over-year to $9.5 million.
* Nine month revenues ended January 31, 2010 increased by $44.3 million to $75.2 versus $30.9 for the same period a year ago.
* Nine month net income increased by $12.5 million to $19.2 million versus $6.7 million for the same period a year ago.
"Successful execution of our expansion plan in China resulted in outstanding sales and net income in the quarter," said Dickson Lee, Chairman and CEO of L&L." As planned, we will continue to expand production at our coal operations taking advantage of the China coal consolidation policy."
Results of Operations
Coal revenues for the third fiscal quarter of 2010 were derived entirely in China, from coal mining, coal washing, coking, and coal wholesale operations. The Company expanded its coal (energy) operations from Yunnan province into Guangzhou province and Guizhou province. As a result, the company operates in 3 provinces in south China, including KMC coal wholesale, DaPuAn Coal Mine, SuTsong Mine, and Ping Yi Mine, Hon Shen Coal Co, and TNI operations.
L&L will continue to execute its expansion in coal mining operations and coal related business. It also plans to increase coal sales and gain access to higher margin markets.
About L & L Energy, Inc.
Founded in 1995 and headquartered in Seattle, L&L (http://www.LLEnergyInc.com) focuses on serving the energy market in China. Through its subsidiaries, it operates profitable coal mines, coal wholesale, coking, and coal-washing facilities.