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Stocks getting killed. Now SGTI is down to $1.60. I have bought some. The book value is over $2 plus its drugs and even in a downturn people need there medications and still have to eat!!
Shengtai Pharmaceutical Inc. (OTC BB: SGTI) is China's leading manufacturer and supplier of pharmaceutical grade glucose for medicinal purposes. Dextrose, a form of glucose is one of the most important carbohydrates and is the chief source of energy in the human body. We also produce other medicinal product lines and glucose and starch products such as industrial glucose, syrup, starch, avermectins, dextrin, maltose and maltitol, which are used for food, beverage and industrial production.
WARNING THE STOCK IS LIGHTLY TRADED!! IF YOU CAN"T TAKE BE DOWNING ALOT ONE DAY DONT BUY! I think the volume will pick up with a few more great quarters!
osubucks30
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Edit above comment: WARNING THE STOCK IS LIGHTLY TRADED!! IF YOU CAN'T TAKE BEING DOWN ALOT IN ONE DAY DONT BUY!
From what I have gathered revenues in Q1 should be around $27 million with profit of at least .14.
But they still sayed based on its current outlook, and existing and anticipated business conditions, Shengtai expects net income for the fiscal year ending June 30, 2009 to grow by approximately 20%.
Now doing simple math based on that statement net income will be just north of $12 million. If you take out the $600,000 they made in the 1st quarter they need to make $11.4 million over the remaining three. Last year during the last three quarters they made about $8.2 million. So they are forcasting a 40% increase in earnings for the remainer of the fiscal year. Which is very impressive. Will have to see if they can back this up.
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