LPIH: now $2.14, Book:$1.5/share下年业绩预测$0.5，后年$0.86

Bluelight2008

LPIH: now $2.14, Book:$1.5/share下年业绩预测$0.5，后年$0.86




Longwei Petroleum Reports Earnings and Revenue Guidance for Fiscal 2009 Clarification on Financing for Gujiao City Facility
Press Release
Source: Longwei Petroleum Investment Holding Limited
On 10:23 am EDT, Monday September 14, 2009


TAIYUAN CITY, China, Sept. 14 /PRNewswire-Asia-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH - News), announced today that it expects to report revenue of approximately $197 million, net income of $23.9 million and earnings per share of $0.31 for the fiscal year ended June 30, 2009. The Company also expects to raise capital of approximately $15 million in order to secure inventory and complete construction of its second storage tank facility in Gujiao City. This storage facility has a 70,000 metric ton capacity. The Company has conservatively estimated the Gujiao facility will add approximately $40 million in revenue and approximately $6 million to net income for the fiscal year ending June 30, 2010. This facility is expected to begin operations in January 2010 and will service large industrial plants in Shanxi province which are in proximity to the new facility.

The Company also stated that they wish to clarify certain assumptions and statements made in a recent conference presentation by the Company's Chief Financial Officer, Jim Crane. The assumptions made during the presentation regarding a proposed capital raise were not explained accurately.

Jim Crane stated: "I wish to clarify and correct certain assumptions made regarding the capital raise and its impact on earnings for the fiscal year ending June 30, 2010. The proposed capital raise will not affect EBIDTA, which is expected to increase from $39 million in fiscal 2009 to $47 million in fiscal 2010, which equates to EBITDA per share of approximately $0.50. The raise will affect net income in fiscal 2010. A one-time charge will be reflected in the Company's financial statements over the three-year term of the financing instrument, including fiscal 2010. The one-time charge is expected to total approximately $3.3 million. The estimated net income for fiscal 2010 is expected to be approximately $34 million.

We are projecting revenue of approximately $322 million in fiscal 2011, net income of $81 million, and earnings per share of approximately $0.86 per share."