Asia Cork forecasts $7.36 million revenue for the 4th quarter. The Q4 forecasted net income reaches $1 million and quarterly EPS $0.03. Accordingly annual revenue is expected to reach $29.8 million, 22.17% up from $24.4 million in 2009. Net income is expected to be $4.7 million, a significant increase of over 40% compared to $3.3 million in 2009. Basic earning per share is expected to rise from 0.09 in 2009 to 0.13, an increase of 47%. "To deal with the problem of rising prices of raw materials in 2010, the management staff have made great endeavor to adjust our expense structure and successfully controlled the expenses, while assuring the high quality of our products and our services."
Management staff believes that the company has fully recovered from the recess of 2008 and 2009. Revenues and net income have been rising steadily for the last three quarters of 2010. Management expects net income of 2010 to exceed $4 million.