GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Financials

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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q, including the following "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors mentioned in the "Risk Factors" section of our Annual Report on Form 1...
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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q, including the following "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors mentioned in the "Risk Factors" section of our Annual Report on Form 1...
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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following management's discussion and analysis should be read in conjunction with our financial statements and the notes thereto and the other financial information appearing elsewhere in this report. In addition to historical information, the following discussion contains certain forward-looking information. See "Special Note Regarding Forward Looking Statements" above for certain information concerning those forward looking statements. Our financial statements are prepared in U.S. dollars and in accordance with U.S. GAAP. Overview of Our Business We are a leading China-based float glass manufacturer. We have been manufacturing glass products from our production facility in Fuxin City, Liaoning Province, China since 2002 and sell our products to end users in China, Asia, Europe, South America and South Africa. Our product offerings include float glass, ultra-clear glass (also called crystal glass), colored float glass and high grade, glass processed products. Our glass products are mostly used in a variety of end products, such as automobiles, commercial and residential buildings, construction materials, furniture and display cases, lighting fixtures and decorative glass artwork, bath fixtures electrical household appliances, such as refrigerators and microwave ovens. Our glass and glass products are manufactured in a broad range of specifications and marketed primarily under the "Golden Elephant" brand name. As of December 31, 2008, we believe we ranked second in the Northeast China glass market based on production capacity. We sell our products directly, and indirectly through a broad distributor network, to automakers and auto parts suppliers, building contractors and building material suppliers and manufacturers of retail goods and we are increasingly exporting our products to the international market. Our primary focus has been to increas...
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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 8-K, Other Events

Show all filings for GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. 4-Mar-2009Other Events 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" for informational p...
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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 8-K, Other Events

Item 8.01. Other Events. Golden Elephant Glass Technology, Inc. (the "Company") recently implemented a maintenance program for its float glass production line which currently has annual production capacity of 500 tons. The maintenance program will involve performing routine maintenance and making required mechanical and technological upgrades to the Company's manufacturing facilities. During the maintenance period, all operations of the production line and all manufacturing of float glass products will be suspended. The Company will meet existing its sales orders for float glass products through subcontracting arrangements and it expects a significant reduction in new sales of float glass and float glass products. Management's decision to implement the maintenance program now is largely due to general global economic conditions and cash flow shortage. In recent months, the price of float glass has decreased and the price for raw materials has increased, which has led to higher production costs and lower profit margin. Management believes that implementing the maintenance program now, at a time when float glass prices and profit margins are depressed, is advantageous because the negative economic impact of suspended operations and lost sales revenue is most effectively mitigated and absorbed. This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, among others, those concerning the Company's expected financial performance, the Company's future operating results, the Company's expectations regarding the completion date of the maintenance program and the increase of the production capacity of its production line, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and ...
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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 8-K, Other Events

Item 8.01. Other Events. Golden Elephant Glass Technology, Inc. (the "Company") recently decided to accelerate a maintenance program for one of its float glass production lines due to current economic conditions which have resulted in a significant decrease in the price of float glass during the winter of 2008. Implementation of the Company's maintenance program, which had originally been scheduled to occur in the second half of 2009, resulted in an immediate suspension of operations of the float glass production line and a concomitant reduction in sales of float glass products. The maintenance program started at the end of November 2008 and is expected to be completed in the first half of 2009. The Company's maintenance program involves performing routine maintenance, making required upgrades to its production line, and improving the technology for manufacturing its higher end ultra-clear glass products. Management believes that implementing the maintenance program now, at a time when float glass prices are depressed, will mitigate the negative economic impact of suspended operations and lost revenues from reduced float glass sales and position the Company for efficient operations when and if the prices of float glass return to past levels. Once the maintenance program is completed, the Company expects to re-commence full operation of its production line and the daily melting capacity of which will be increased from 300 metric tons to approximately 330 metric tons. The management believes that the acceleration of the maintenance program could have a negative near-term impact the Company's revenue and net income in 2008 and 2009, although the impact of which is uncertain as of the date of this report. This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, among others, those concerning the Company's expected ...
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GOLDEN ELEPHANT GLASS TECHNOLOGY, INC. Files SEC form 10-Q, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q, including the following "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors mentioned in the "Risk Factors" section of our Current Report on Form 8-K filed on March 31, 2008, and other ...
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