Highpower International Provides Fourth Quarter and Fiscal Year 2010 Outlook
04 March 2011 - 11:00PM
Marketwired
Highpower International, Inc. (NASDAQ: HPJ),
a developer, manufacturer and marketer of nickel-metal hydride
(Ni-MH) and lithium-ion (Li-ion) batteries and related products,
today provided its revenue and earnings outlook for the fourth
quarter and fiscal year ended December 31, 2010.
For the fourth quarter of 2010, the Company expects revenue to
be in the range of $27.5 to $28.0 million and net income to be in
the range of $1.3 to $1.5 million. At the midpoint of the range,
this represents a 23% increase in revenue and a 119% increase in
net income as compared to the fourth quarter of 2009.
For the fiscal year ended December 31, 2010, the Company expects
revenue to be in the range of $104.5 to $105.0 million and net
income to be in the range of $5.9 to $6.1 million. At the midpoint
of the range, this represents a 49% increase in revenue and a 35%
increase in net income as compared to the fiscal year ended
December 31, 2009.
"We are proud of the strong results that we achieved in the
fourth quarter and fiscal year of 2010," said Mr. George Pan,
Chairman and Chief Executive Officer of Highpower International.
"We are benefiting from increasing global demand for rechargeable
batteries and our success in selling our batteries into an
increasing number of next generation consumer electronics products.
We remain focused on expanding our sales and marketing efforts
worldwide and advancing our position as a leading provider of clean
energy solutions for consumer products and alternative energy
applications."
Highpower International will release full financial results for
the fourth quarter and fiscal year 2010 on Monday, March 28, 2011.
The Company will host a conference call that day at 7:00 a.m.
Pacific time/10:00 a.m. Eastern time to discuss those results and
answer questions.
Individuals interested in participating in the conference call
may do so by dialing 888-799-5026 from the U.S., or 973-409-9693
from outside the U.S. and referencing the reservation code
49794466. Those interested in listening to the conference call live
via the Internet may do so by visiting the Investor Relations
section of the Company's Web site at http://www.highpowertech.com
or www.InvestorCalendar.com.
A telephone replay will be available for 48 hours following the
conclusion of the call by dialing 800-642-1687 from the U.S., or
706-645-9291 from outside the U.S., and entering reservation code
49794466. A webcast replay will be available for one year.
About Highpower International, Inc.
Highpower International, Inc. develops, manufactures and markets
rechargeable nickel metal hydride (Ni-MH) and lithium-ion (Li-ion)
batteries and related products for use in a variety of electronic
devices. The majority of Highpower International's products are
distributed worldwide to markets in the United States, Europe,
China, Hong Kong, Taiwan, Southeast Asia and South America. For
more information, visit http://www.highpowertech.com
To be added to the Company's email distribution for future news
releases, please send your request to HPJ@finprofiles.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995 that are not historical
facts. These statements can be identified by the use of
forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "plan," "seek," "intend," or
"anticipate" or the negative thereof or comparable terminology, and
include discussions of strategy, and statements about industry
trends and the Company's future performance, operations and
products. Such statements involve known and unknown risks,
uncertainties and other factors that could cause the Company's
actual results to differ materially from the results expressed or
implied by such statements. For a discussion of these and other
risks and uncertainties see "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the Company's public filings with the SEC. Although
the Company believes that the expectations reflected in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. The
Company has no obligation to update the forward-looking information
contained in this press release.
Financial Profiles, Inc. Tricia Ross +1-916-939-7285 Email
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