China Tracker - Details for China Direct Industries (CDII)


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 China Direct Industries
 Business Outlook

As overall trends in our end-markets continue to improve and our revenue base has strengthened across all of our business segments, we now see revenue for the full 2011 fiscal year exceeding $200 million with net income of $12 million.

(Source: Marketwire, 2011-08-15)

China Direct Industries has entered into a definitive agreement to sell its 51% stake in Shanxi Pan Asia Magnesium Company for $3.05 million in cash to Bloomgain Investment Company, Ltd., a privately held British Virgin Island company. "We are pleased to recover a significant portion of a previously written off investment in Pan Asia as we continue to execute on our business plan and achieve substantial growth in our magnesium and basic materials operations both in China and the U.S."

(Source: PR Newswire, 2011-08-11)

As overall trends in our end-markets continue to improve and our revenue base has strengthened across all of our business segments, we see revenue for the full 2011 fiscal year of $180 to $200 million with net income of $12 million.

(Source: Marketwire, 2011-05-16)

As overall trends in our end-markets continue to improve and our revenue base has strengthened across all of our business segments, the Company sees revenue for the full 2011 fiscal year of $180 million with net income of $12 million. "Our results have substantially improved in the first quarter as we build momentum for the remainder of fiscal 2011. We continue to ship more magnesium quarter over quarter as we work to add capacity on increasing demand and look to be opportunistic in our purchases of raw materials to improve performance. As our core operations in China have now stabilized and resumed a top line growth track, we will look to focus on expanding margins and operating efficiencies to achieve marked improvement in our operating margins. We have worked diligently to survive a prolonged downturn and now emerge with strengthening production and distribution businesses in China and a vastly improved environment for our consulting services as evidenced by the recent USChina Channel transaction. In addition, we believe our commodities trading business is poised for rapid growth as we look to begin shipments of iron ore from Mexico and parts of South America in the second quarter of fiscal 2011. We have strengthened our balance sheet to grow our business and we are confident that we can build on the success of the first quarter to forge a growing and profitable company for the remainder of fiscal 2011 and beyond."

(Source: Marketwire, 2011-02-14)

China Direct Industries announced today that its magnesium segment operations received new purchase contracts valued at approximately $31 million in its first quarter of fiscal 2011, ended December 31, 2010. Deliveries of these new orders began in the first quarter of fiscal 2011 and are expected to be completed by the third quarter of fiscal 2011. "We are excited to see a continued improvement in our magnesium sales as evidenced by these new contracts. We are particularly pleased to have signed supply contracts with Fortune 500 customers directly through our IMG marketing efforts as we continue to build our IMG brand as the source for reliable supplies of magnesium. We are confident that the magnesium industry will continue to recover and we intend to build on this momentum throughout fiscal 2011."

(Source: Marketwire, 2011-01-12)

CDII Trading has agreed to supply iron ore to its China-based buyer over a 12 month period under an agreement with a Bolivian mineral ore mining and exporting company upon acceptance of purchase orders by the parties and fulfilment of other commercial terms in the agreement including the successful completion of an initial test shipment. The monthly revenue under this agreement is expected to be approximately $4.5 million at the current market price for iron ore.

(Source: Marketwire, 2011-01-03)

We enter fiscal 2011 anticipating that we will return to net profitability during the year while growing our revenue by a minimum of 30%. "The progressive improvement in our magnesium segment where shipments, average pricing and revenue increased each quarter has led us to restart facilities to further accelerate growth in fiscal 2011.We believe our basic materials segment is poised for continued improvement as we look to deliver on several key distribution contracts in the coming year and we begin shipments of iron ore to China. We believe our marketing efforts in consulting will lead to a near term transaction as well as the addition of new clients in fiscal 2011 and result in a much stronger performance in this business. We are more optimistic than ever with regard to our international commodity trading business with the beginning of shipments of iron ore to China in this new fiscal year. As we head into fiscal 2011, we maintain a strong balance sheet with sufficient cash to fund operations and negligible long term debt with an eye toward significant revenue growth and a return to profitability."

(Source: Marketwire, 2010-12-22)

Recently, magnesium spot price has been rising to approximately $3,000 per ton FOB China early in October 2010 as compared to prices closer to $2,500 this same time last year. As the aerospace, automobile and consumer electronics industries continue to recover, we are seeing demand for magnesium improving throughout 2011and we have adjusted our production forecast accordingly. We believe our magnesium segment is now emerging from a prolonged downturn as a stronger player relative to our competitors. With firming prices returning to more normalized levels we are confident that our magnesium operations will not only grow substantially from a revenue standpoint in fiscal 2011 but also profitably at the bottom line. We intend to continue with our plan to acquire additional magnesium production facilities as conditions warrant, and are confident that we will reach our goal of becoming the largest producer and distributor of magnesium products in the world by fiscal 2012.

(Source: Marketwire, 2010-11-01)

Management now sees fiscal 2010 total revenue ranging between $108 and $112 million and expects to report a net loss of approximately $3 to $3.5 million, inclusive of $3.1 in non-cash related items. Management sees improving performance across all its business segments in fiscal 2011 and will provide additional details regarding its fiscal 2010 performance and further guidance for fiscal 2011 when it reports fiscal 2010 earnings in December 2010.

"Our previous guidance was predicated on shipments of Iron Ore from our CDII Trading operations and the closing of two transactions in our Consulting segment in the fourth quarter of fiscal 2010. Due to severe weather conditions in Mexico, fourth quarter shipments of iron ore have been delayed until the first quarter of fiscal 2011. Additionally, we experienced delays in the completion of auditing necessary for the closing of one client transaction by September 30, 2010 and elected to not pursue the other transaction. Management anticipates the remaining consulting transaction will close in the first quarter of fiscal 2011."

"We have worked diligently over the past year to markedly improve our performance and we have accomplished a great deal. We also believe that our anticipated business in trading and consulting was deferred into the first quarter of fiscal 2011. As we have significant distribution contracts in place at our basic materials segment, coupled with additional capacity coming on line in our magnesium segment, we see strong momentum for fiscal 2011 and look forward to discussing this in greater detail when we release our earnings in December 2010."

(Source: Marketwire, 2010-10-29)

CDI Beijing International Trading Co., Ltd., has received a contract from Beijing Tianrun Construction Co, Ltd. for the delivery of various types of reinforcing steel bars having the potential to generate over $70 million in revenue over the next 12 months. Delivery dates will be determined by parties over the term of the contract.

"We are excited to build strong momentum in our basic materials segment and look forward to meeting the supply needs of a prestigious company like Beijing Tianrun Construction Co, Ltd. on a large scale. We continue to aggressively market in this area as we look to expand our basic materials segment heading into 2011 and look forward to additional contract wins in the future."

(Source: Marketwire, 2010-09-13)

Our trading operations are finalizing several purchase and sale agreements for various metal ore for delivery into China from South America and Mexico with shipments expected to begin in the fourth quarter of fiscal 2010. While we remain optimistic regarding our outlook for the remainder of fiscal 2010, when taking all of these factors into consideration, we now see our net income ranging between $6 to $8 million and our revenue ranging from between $120 and $130 million.

(Source: Marketwire, 2010-08-12)

We see inflationary pressures mounting in magnesium and anticipate that growing volume trends will lead to price appreciation in the coming quarters. We are restarting facilities in response to improvements in demand and increased quoting activities. Activity in our consulting operations has increased substantially and we anticipate an acceleration of growth in both the number of clients we service as well as our overall revenue for the remainder of 2010. Additionally, we see our CDII Trading operations reaching contractual terms on several purchase and sale agreements for various metal ores for delivery into China from South America and Mexico in the second half of fiscal 2010. We continue to see our net income ranging between $8 to $10 million on revenue ranging from between $130 and $150 million.

(Source: Marketwire, 2010-05-12)

We remain extremely confident about the long-term prospects for our magnesium operations as we move through 2010. We have seen a marked pickup in quoting activity for larger quantity orders in recent months and are confident that the gradual improving trends in price and demand we see in the market will continue to gain momentum throughout the remainder of 2010 and into 2011.

(Source: Marketwire, 2010-05-07)

While the overall environment in our various businesses remained challenging in the first quarter, margins in both our Magnesium and Basic Materials segments continued to improve. We intend to continue to restart idle magnesium facilities to add to our production capacity to meet anticipated increases in demand in the coming quarters and see revenues from consulting activity improving for the remainder of fiscal 2010. We continue to see our net income ranging between $8 to $10 million on revenue ranging from between $130 and $150 million. "As our margins continue to improve on higher prices and the global recovery proceeds we remain confident in our ability to continue to grow at a profitable level and build momentum throughout fiscal 2010."

(Source: Marketwire, 2010-02-11)
CDII
Basic Materials
SCORE
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Current Price:  n/a
F10k Day (2007-01-18): -100.00%$6.18
2009 Close: -100.00%$1.18
2010 Close: -100.00%$1.51
2011 Close: -100.00%$0.76
High (2012-02-13): -100.00%$1.00
Low (2012-10-05): -100.00%$0.16
Exchange:
Market Capitalization: n/a
Total Shares: 40.33 mill
Float: n/a
Avg Volume: 134.30 k
Short Interest: 652.30 k
Short Ratio: 2.28%4.9 d
Last Quarter: 2011-06-30
Revenue (MRQ): 57.02 mill
Net Income (MRQ): 4.29 mill
Op. Cash Flow (MRQ): 1.81 mill
all financial data provided without warranty