China Tracker - Details for SinoHub (SIHI)


Warning: fopen(http://finance.yahoo.com/d/quotes.csv?s=SIHI&f=snl1a2xf6): failed to open stream: HTTP request failed! HTTP/1.0 403 Forbidden in /home/fixyou/public_html/tracker_details.php on line 58

Warning: fgetcsv() expects parameter 1 to be resource, boolean given in /home/fixyou/public_html/tracker_details.php on line 60

Warning: fclose() expects parameter 1 to be resource, boolean given in /home/fixyou/public_html/tracker_details.php on line 61
 SinoHub
Shares Outstanding (MRQ): 28.59 mill
New Shares / Dilution (TTM): 2.91 mill11.34% 
New Shares / Dilution (since Dec 31, 2008): 7.13 mill33.22% 
Cash (MRQ): 4.52 mill0.00%
Account Receivables (MRQ): 45.69 mill0.00%
Account Receivables (Q/Q): -0.66 mill  
Long-Term Debt (MRQ): 0.85 mill0.00%
Revenue Growth (Q/Q): 4.86% 
Revenue Growth (Y/Y): 36.66%
Net Income Growth (Q/Q): 27.72% 
Net Income Growth (Y/Y): 98.03%
EPS Growth (Y/Y): 77.86%
Net Margin (Q/Q): 12.4% (10.2%)2.20% 
Net Margin (Y/Y): 12.4% (8.5%)3.80% 
EPS | P/E (2 MRQ Projection): $0.900.00 
CFPS | P/CF (2 MRQ Projection): $0.110.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: Baker Tilly
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2011-03-15): $0.750.00 
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2008-05-14 
Uplisting to Senior Exchange: on 2009-08-07 at $4.20 (-100.00% since Uplisting)

 Business Outlook

Recent Chain of Events:
2012-09-24 -- Last SEC Filing
2012-09-07 -- Trading halted by NYSE Amex
2012-08-31 -- Auditor Resignation
2012-05-15 -- Last Quarterly/Annual Report: Q1/FY2012 ended March 31, 2012

(Source: Trading China, 2012-09-30)

The Company experienced a significant reduction in revenue in the second quarter due to the fact that its largest ICM segment customer experienced inventory issues with another supplier which caused the customer not to purchase products from the Company during the second quarter. In addition, the Company expects to generate lower ECSS segment revenues moving forward as a result of its strategic decision to shift the electronic component procurement (ECP) portion of its ECSS segment to a brokerage model. Finally, although the Company believes its ICM business model is now proven, it has not been able to expand its customer base as quickly as planned. As a result of the foregoing, the Company now expects to sell approximately 2.5 million mobile phones in 2011, down from its previous estimate of 3 million, and it expects full-year 2011 revenue of approximately $195 million, unchanged as compared to the full-year 2010. This compares to the Company's previously issued guidance of $255 million for the full-year 2011.

(Source: PR Newswire, 2011-08-15)

SinoHub has begun a strategic initiative to develop its own mobile phone brand in China, the world's largest mobile phone market. There are several examples of companies, the most notable being Tianyu in Beijing, that have executed this strategy successfully. The Company will continue to make and sell private label, custom design mobile phones for distributors and operators elsewhere. We believe the strategy to create our own brand in China, where a marketable brand name is necessary for success, combined with our strategy of using our joint design process to create mobile devices that give our customers competitive advantage in their local markets, will expand our market opportunity, help drive margin improvement and create a more defensible position for our Company.

(Source: PR Newswire, 2011-05-16)

    see all Business Outlook notes


Warning: Division by zero in /home/fixyou/public_html/tracker_details.php on line 652
 Analyst Coverage (show less)
2011-05-17Rodman & RenshawReiterationOutperform$5.50
 

At current levels SIHI is trading at a P/E multiple of ~2.5x to our new FY11 earnings estimate. This is significantly below the peer group. We are now revising our price target on SIHI to $5.50 from $7.00 driven by lowered projections for 2011. Our new price target of $5.50 for SIHI translates into P/E multiple of ~10x to our earnings estimates for FY11, still implying a discount compared to a ~22.8x multiple for its peer group listed in China, and ~18x for the US listed comparables. We believe these are very reasonable multiples for an emerging company that is growing its market position, introducing new products and improving its margins. We maintain our Market Outperform rating.

2011-04-06Rodman & RenshawReiterationOutperform$7.00
 

At current levels SIHI is trading at a P/E multiple of ~2.3x to our FY11 earnings estimate. This is significantly below the peer group. We are comfortable maintaining the $7.00 price target for SIHI, which translates into P/E multiple of ~10.5x to our earnings estimates for FY11, still implying a discount compared to a ~22.4x multiple for its peer group listed in China, and ~15.6x for the US listed comparables. We believe these are very reasonable multiples for an emerging company that is growing its market position, introducing new products and improving its margins.

2011-04-01Rodman & RenshawReiterationOutperform$7.00
 

At current levels SIHI is trading at a P/E multiple of ~2.8x to our new FY11 earnings estimate. This is significantly below the peer group. We are comfortable maintaining the $7.00 price target for SIHI, which translates into P/E multiple of ~10.5x to our earnings estimates for FY11, still implying a discount compared to a ~22.1x multiple for its peer group listed in China, and ~18x for the US listed comparables. We believe these are very reasonable multiples for an emerging company that is growing its market position, introducing new products and improving its margins.

2011-03-22Roth CapitalDowngradeSuspendedn/a
2011-03-15Global HunterReiterationBuy$6.00
 

SinoHub Inc. (SIHI) reported Q4 and FY10 earnings on Monday, which beat our estimates and the consensus by a large margin. Revenue increased 37% YoY, as it was the high season for the mobile phone business and there was strong growth in the ICM (Integrated contract manufacturing) business. Gross margins also expanded due to an increased mix of ICM business and higher pricing in the ECSS (Electronic component sales and services) segment. We believe the ICM business was a tremendous success for 2011, which grew from zero to $61MM revenue in its first year of operation to account for 31% of total revenue. For 2011, the company guided for 30% top-line growth, roughly in line with consensus expectations. Management anticipates production of 3MM phones in FY11, versus 1.15MM in FY10, and expects ICM to account for a majority of the business in 2012. We believe management has executed the business very well in the past year and we look for continued growth in 2011. Shares are trading at only 3.9x our FY11 EPS estimate, which we believe is considerably undervalued. We reiterate our Buy rating and $6 price target. which is 8x our FY11 EPS.

SIHI is currently followed by 3 analysts. All 3 give the stock a positive rating. The average price target is 5.17.


    see all Analyst Ratings

 Investor Presentations
2010-05-17 (HTML)   VIEW
SIHI
Electronics
SCORE
8
UNDER REVIEW
READ: Score Cards Explained
SAFETY/RISK SCORE
HIGH RISK
DETAILS: Safety/Risk Model for SIHI
Current Price:  n/a
F10k Day (2009-06-10): -100.00%$2.60
2009 Close: -100.00%$4.00
2010 Close: -100.00%$2.61
2011 Close: -100.00%$0.38
High (2012-04-26): -100.00%$0.79
Low (2012-10-19): -100.00%$0.03
Exchange:
Market Capitalization: n/a
Total Shares: 28.59 mill
Float: n/a
Avg Volume: 80.60 k
Short Interest: 126.20 k
Short Ratio: 0.52%1.6 d
Last Quarter: 2010-12-31
Revenue (MRQ): 58.46 mill
Net Income (MRQ): 7.23 mill
Op. Cash Flow (MRQ): 4.19 mill
all financial data provided without warranty