China Direct Industries, Inc. (NASDAQ: CDII ), a U.S. based company that sources, produces and distributes industrial products in China and the Americas in two core business segments, announced its financial results for the fiscal year ended September 30, 2011.
Fiscal 2011 revenue reaches $187.8 million up 66.6% from fiscal 2010
Fiscal 2011 net income attributable to China Direct Industries rises to $9.3 million up from a loss of ($3.2 million) in fiscal 2010
Fiscal 2011 Diluted EPS climbs to $0.25 compared to a loss of ($0.11) in fiscal 2010
Financial Highlights
For the full year of fiscal 2011 total revenues increased to $187.8 million, an increase of 66.6% compared to total revenues of $112.7 million recorded in fiscal 2010. Our gross profit reached $19.5 million, up 171.1% compared to gross profit of $7.2 million recorded in the prior fiscal year. Gross profit margins improved to 10.4% in fiscal 2011, an increase of 63% compared to gross margins of 6.4% in fiscal 2010. For fiscal 2011, our operations resulted in net income attributable to China Direct Industries of $9.3 million compared to a net loss of ($3.2 million) recorded in fiscal 2010. Earnings per basic share reached $0.26 in fiscal 2011 on 36.1 million weighted average shares outstanding. Earnings per diluted share were $0.25 in fiscal 2011 on 36.8 million weighted average shares. This compares to a net loss of ($0.11) per basic and diluted share in fiscal 2010 on 29.6 million weighted average shares outstanding.
China Direct Industries, Inc. is a U.S. based company that sources, produces, and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries’ unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets.
More about CDII at www.cdii.net
IMAX Corporation (NYSE:IMAX) and Paramount Pictures announced that Mission: Impossible - Ghost Protocol The IMAX Experience, earned approximately $14 million at the box office in IMAX® theatres worldwide during its opening weekend. Domestically, the film generated $10.5 million on 300 IMAX screens, for an IMAX per-screen average of $35,000. Internationally, it generated $3.4 million on 89 IMAX screens, for an IMAX per-screen average of $38,200. The film surpassed the previous December opening box office records set by Tron: Legacy. Mission: Impossible - Ghost Protocol The IMAX Experience is set to open on 112 additional IMAX® theatres in various territories, including China and the UK.
IMAX Corporation is one of the world’s leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences.
NRG Energy, Inc. (NYSE:NRG) and The Kraft Group announced a comprehensive sustainable energy supply agreement for Gillette Stadium, home of the New England Patriots and the New England Revolution, and Patriot Place, The Kraft Group’s shopping, dining, and entertainment destination in Foxborough, Massachusetts. Under the agreement, NRG will triple the amount of clean, renewable solar power generated at Patriot Place. The Kraft Group and NRG will also pursue the addition of a full-sized wind turbine that would elevate Patriot Place to be one of the largest renewable power installations at a major sports venue in the United States. In addition, NRG will provide all the additional power for the nearly 70,000-seat stadium and the more than one-million-square-foot retail and entertainment complex.
NRG is at the forefront of changing how people think about and use energy. A Fortune 500 company, NRG is a pioneer in developing cleaner and smarter energy choices for our customers.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit, Inc. is in the business of producing and conserving power. Cleantech Transit produces and sells clean electricity globally, with a focus on sustainable energies using renewable resources such as Geothermal, Solar and Wind. Cleantech Transit’s goal is to use innovative technologies to reduce electricity consumption and dependence on carbon based energy. Cleantech Transit, Inc. was founded in 2006 and is based in Scottsdale, Arizona.
Biomass has generated energy from the time it created the first fire, and wood is still the largest bioenergy resource available today. Other sources include food crops, grasses, agricultural residues, manure and methane from landfills. Fossil fuels are simply ancient forms of biomass, but their finiteness and negative environmental impact makes it imperative to develop our renewable biomass resources for our energy needs. Because biomass can be converted to other usable forms of energy it is an attractive petroleum alternative.
Today, biomass resources generally fall into three types:
Agriculture
Forests
Urban wast
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Express Inc. (NYSE:EXPR) the specialty retail apparel chain operating more than 600 stores in the U.S., Canada and Puerto Rico announced that Express will become an official sponsor of the 2012 Miss America Program. The year-long sponsorship kicks-off with an exciting week of pageant events and culminates on January 14 at 9:00 PM /EST with the live ABC broadcast of the 2012 Miss America Pageant from the Planet Hollywood Casino Resort in Las Vegas, Nevada.
Express is a specialty apparel and accessories retailer of women’s and men’s merchandise, targeting the 20 to 30 year old customer.
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