XI'AN, China, Oct. 15 /PRNewswire-Asia-FirstCall/ -- China Integrated Energy, Inc. (Nasdaq: CBEH; the "Company"), a leading non-state-owned integrated energy company in China, today announced its selected unaudited preliminary financial results for the third quarter of 2009.
The Company estimates sales to be at least $71 million and net income to be at least $9.5 million, representing increases of 12.9% and 4.4%, respectively, compared to the third quarter of 2008.
"We are pleased with our preliminary results for the third quarter, which included measured growth in sales volume for both our distribution and retail gas station segments," commented Mr. Gao Xincheng, Chief Executive Officer.
In addition, the Company is increasing its 2009 full year guidance and now expects sales of at least $265 million with net income of at least $35 million, which represents 22.4% and 87.2% growth over 2008, respectively. This compares to previously issued sales and net income guidance of $240.7 million and $33.7 million.
The selected estimated results mentioned above for the third quarter of 2009 are preliminary and are subject to the completion of the Company's normal quarter-end review process. The Company's actual results may differ from these estimates.
The Company will conduct a conference call on or before November 11, 2009 to discuss third quarter 2009 financial results. Details for the call will be forthcoming.
About China Integrated Energy, Inc.
The Company is a leading non-state-owned integrated energy company in the
PRC engaged in three business segments, the wholesale distribution of finished
oil and heavy oil products, the production and sale of biodiesel and the
operation of retail gas stations. The Company's primary business segment is
|SOURCE China Integrated Energy, Inc.|
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