China Fire & Security Group, Inc. reported earnings results for fourth quarter and full year ended December 31, 2009. For the quarter the company reported that revenue decreased 19.4% year over year to $16.9 million, compared to $21.0 million for the same period in 2008. This decrease was mainly due to the delay in the signing and executing of the previously announced $92 million retrofitting contract with Wuhan Iron and Steel (Group) Corporation ('Wuhan Iron and Steel'). During the fourth quarter of 2009, the iron and steel vertical represented 53% of the total revenue, as compared to 74% in the same period of last year. Operating income was $3.3 million, as compared to $6.2 million from the same period last year. Operating margin for the period was 19.4%, versus 29.5% a year ago, primarily due to the decrease in gross margin this quarter. Net income was $2.9 million as compared to $6.8 million for the same period of 2008. The decrease in net income was mainly due to the decrease in both revenue and gross margin during this quarter as well as the 12.5% income tax on its major operating subsidiary in China. As a result, GAAP fully diluted EPS was $0.10 in the fourth quarter of 2009, versus $0.24 in the fourth quarter of the prior year. For full year period the company reported that revenues increased 17.5% to $81.2 million from $69.1 million for 2008, driven primarily by higher total solution and product sales. During 2009, the company recognized revenues from 445 total solutions, product sales and maintenance services contracts, compared to 319 contracts in 2008. The iron and steel industry remains the company's largest vertical, having contributed 75% of the total revenues in 2009, followed by power generation at 16%, and petrochemical and other verticals at 9%. Operating income was $27.6 million for 2009, as compared to $23.6 million for 2008, an increase of $4.0 million, or 17.0%, driven by the strong revenue growth and higher gross margin in 2009. Net income was $24.4 million compared to $24.7 million for 2008, representing a slight decrease of $0.3 million, or 1.2%. This decrease in net income was mainly attributable to the significant increase in the company's effective income tax rate during this year, as the company's main operating subsidiary, Sureland Industrial Fire Safety Ltd., began to pay income tax at a rate of 12.5% after the expiration of its tax exemption period in 2008. GAAP fully diluted EPS was $0.86 in 2009, compared to $0.88 in the prior year. For the full year 2010, the company reaffirms its revenues will grow between 66% and 78% to a range of $135 million to $145 million. Net income is estimated to grow 89% to 105% to a range of $47 million to $49 million, or $1.65 to $1.70 per diluted share.

China Fire & Security Group, Inc. announced that they will report Q4, 2009 results on 03/16/2010

China Fire & Security Group, Inc., Q4 2009 Earnings Call, Mar-16-2010

China Fire & Security Group Announces Fourth Quarter and Full Year 2009 Financial Results

Q4 2009 CHINA FIRE & SEC GROUP INC Earnings Release - Before Market Open

China Fire 4Q profit down on lower margins, sales

UPDATE - China Fire Q4 profit halves

CHINA FIRE & SECURITY GROUP, INC. Files SEC form 10-K, Annual Report

China Fire to Report Fourth Quarter and Full Year 2009 Earning Results on March 16, 2010

CHINA FIRE & SECURITY GROUP, INC. Files SEC form 8-K, Regulation FD Disclosure

China Fire Announces Record Breakthrough Contract Win of $92 Million

China Fire Provides Business Updates and New 2010 Guidance

China Fire to Present at Upcoming Investor Conferences

China Fire to Present at Upcoming Investor Conferences

CHINA FIRE & SECURITY GROUP, INC. Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits

China Fire Provides Business Updates and New 2010 Guidance

China Fire Announces Record Breakthrough Contract Win of $92 Million

China Fire & Security Group Wins $92 Million Contract

UPDATE - China Fire sees strong 2010 revenue, shares jump

CHINA FIRE & SECURITY GROUP, INC. Files SEC form 8-K, Change in Directors or Principal Officers

China Fire Further Strengthens Executive Team

CHINA FIRE & SECURITY GROUP, INC. Files SEC form 10-Q, Quarterly Report

CHINA FIRE & SECURITY GROUP, INC. Files SEC form 8-K, Change in Directors or Principal Officers