China Fire & Security Group Announces Third Quarter 2009 Financial Results

BEIJING, Nov. 9 /PRNewswire-Asia/ -- China Fire & Security Group, Inc. (Nasdaq: CFSG - News; "China Fire" or "the Company"), a leading total solution provider of industrial fire protection systems in China, today announced its financial results for the third quarter ended September 30, 2009. Third quarter 2009 ResultsFor the third quarter of 2009, revenue increased 48.2% to a record high of $24.8 million compared to $16.7 million for the same period in 2008, benefiting from higher sales of system contracting projects and product sales during the period. The Company recognized revenues from 205 total solution, product sales and maintenance contracts for the three months ended September 30, 2009 as compared to 163 contracts for the three months ended September 30, 2008.Gross profit for the third quarter of 2009 increased by 41.9%, or $4.1 million, to $14.0 million, from $9.9 million in the same period of prior year. Gross margin for the third quarter of 2009 was 56.4%, compared to 58.9% for the same period of 2008, primarily due to the decreased gross margin of the product sales.Operating income grew 34.4% to $8.5 million, from $6.1 million for the same period last year, driven by the strong revenue growth. Operating margin in the third quarter of 2009 was 34.4% versus 36.6% a year ago due to the lower gross margin during this period.Operating expenses were $5.5 million for the third quarter of 2009, compared to $3.7 million for the same period of 2008. As a percentage of the total revenue, op...
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CHINA FIRE & SECURITY GROUP, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis or Plan of Operation General The following discussion and analysis provides information which the management of China Fire & Security Group, Inc., (the "Company" or "CFSG") believes to be relevant to an assessment and understanding of the Company's results of operations and financial condition. This discussion should be read together with the Company's financial statements and the notes to financial statements, which are included in this report. Overview We are engaged in the design, development, manufacturing and sale of fire protection products and services for large industrial firms in China and international markets. We have developed a proprietary product line that addresses all aspects of industrial fire safety from fire detection to fire system control and extinguishing. The Company is one of the first in China to leverage high technology for fire protection and safety on behalf of its clients including iron and steel companies, power plants, petrochemical plants, as well as, special purpose construction companies in China and international markets. Reorganization We were organized as a Florida corporation on June 17, 2003. On September 1, 2006, we entered into a share exchange agreement, pursuant to which we acquired all of the outstanding capital shares of China Fire Protection Group Inc. in exchange for a controlling interest in our common shares. The transaction was completed on Oct 27, 2006. China Fire Protection Group was organized on June 2, 2006 for the purpose of acquiring all of the capital shares of Sureland Industrial Fire Safety Limited (Sureland Industrial), a Chinese corporation, and, Sureland Industrial Fire Equipment Co., Ltd. (Sureland Equipment), a Chinese corporation, which collectively engage in the design, development, manufacturing and sale of fire protection products and services for large industrial firms in China. As a result of the...
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Q3 2009 CHINA FIRE & SEC GROUP INC Earnings Release - Before Market Open

Earnings Announcements for Monday, November 9CompanySymbolTimeConferenceCall4Kids EntertainmentKDEBefore Market OpenAbatixABIX.PKAfter Market CloseAbraxas PetroleumAXASAfter Market CloseListenACADIA PHARMACEUTICALS INCACADAfter Market CloseADVANCED BATTERY TECHNOLOG INCABATAfter Market CloseAdvanced PhotonixAPIAfter Market CloseListenAdvanta CorporationADVNATime Not SuppliedAdvocatAVCAAfter Market CloseListenAlbany Molecular ResearchAMRIBefore Market OpenAlesco Financial Inc.AFNAfter Market CloseAlexza Pharmaceuticals Inc.ALXAAfter Market CloseListenAlliance One International, Inc.AOIAfter Market CloseAllianz SEAZSEY.PK01:30 am ETListenALLION HEALTHCARE INCALLITime Not SuppliedALPHATEC HOLDINGS INCATECTime Not SuppliedAmerican CareSource Holdings, Inc.ANCIAfter Market CloseA...
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CHINA FIRE & SECURITY GROUP, INC. Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue24,816  22,732  16,712  20,986  Cost of Revenue10,817  8,231  6,415  9,581  Gross Profit13,999  14,501  10,297  11,405  Operating ExpensesResearch Development390  520  314  446  Selling General and Administrative4,886  4,221  3,583  4,501  Non Recurring -   -   -   -  Others197  183  193  266  Total Operating Expenses -   -   -   -  Operating Income or Loss8,526  9,576  6,206  6,191  Income from Continuing OperationsTotal Other Income/Expenses Net335  118  233  632  Earnings Before Interest And Taxes8,861  9,693  6,439  6,823  Interest Expense -   -   -   -  Income Before Tax8,861  9,693  6,439  6,823  Income Tax Expense1,330  1,357  794  (6)Minority Interest22   -   -   -  Net Income From Continuing Ops7,554  8,336  5,646  6,829  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes - ...
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CHINA FIRE & SECURITY GROUP, INC. Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for CHINA FIRE & SECURITY GROUP, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for CHINA FIRE & SECURITY GROUP, INC. 12-Nov-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" ...
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