Advanced Battery Technologies, Inc. (NASDAQ: ABAT) has offered up 3-year projections for the recently acquired Wuxi ZhongQiang Autocycle CO., Ltd., which currently has four production lines in operation with production capability of 100 vehicles per day per line.� The company says this is less than 20% of total capacity.� The projections given are expected to be achieved via an increase in new orders and through more efficiency.
For all of 2009, the unit is expected to contribute revenue of $35.0 to $37.5 million and gross profit of $9.2 to $9.7 million.
For 2010, Advanced Battery Tech believes that growth in domestic and international demand for its products will continue; and it believes Wuxi production will reach approximately two-thirds of its current capacity.� This would allow it to contribute $55 to $65 million in revenue by the end of next year.
For 2011, the company expects to utilize at least 80% to 85% of current capacity.
It was just last week that we saw it give a status update for its Wuxi Zhongqiang vehicles, but today’s guidance is the financial guidance.
The company’s description is in the design, manufacturing, and marketing of rechargeable polymer lithium-ion batteries… in China.
This stock trades an average of almost 500,000 shares per day and its market cap is listed as approximately $217 million.� For a comparison, the company generated $45.172 million in 2008 revenues and generated $31.898 million in 2007 revenues.� There are too few analysts making projections for anything resembling a consensus, but the 2009 “consensus” from Thomson Reuters is $57.2 million in revenues.
Advanced Battery Technologies is seeing a gain of 4% to $3.98, and the 52-week trading range is $1.17 to $6.40.
JON C. OGG
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