Stock Name: OSIM
Company Name: OSIM INTERNATIONAL LTD
OCBC Investment Research in Nov 2 research report says: "OSIM reported its 3Q11 which fell short of our below consensus estimates. Revenue grew 5.9% y-o-y but declined 10.8% q-o-q to $123.6 million; while net profit rose 0.8% y-o-y but dipped 30.1% q-o-q to $13.1 million.
"Excluding a one-off tax provision of $2.8 million, we estimate that OSIM's net profit still came in below our forecasts by ~10.4%. For 9M11, revenue and net profit growth of 9.3% and 56.9% met 71.0% and 69.6% of our FY2011 estimates, respectively.
"We cut our FY2011/FY2012 revenue and net profit forecasts by 5.7%/7.2% and 7.1%/2.7%, respectively. Fair value estimate decreases from $1.52 to $1.37, potential upside of 15.1%. MAINTAIN BUY."
Company Name: OSIM INTERNATIONAL LTD
| Research House: OCBC | Price Call: BUY | Target Price: 1.37 |
OCBC Investment Research in Nov 2 research report says: "OSIM reported its 3Q11 which fell short of our below consensus estimates. Revenue grew 5.9% y-o-y but declined 10.8% q-o-q to $123.6 million; while net profit rose 0.8% y-o-y but dipped 30.1% q-o-q to $13.1 million.
"Excluding a one-off tax provision of $2.8 million, we estimate that OSIM's net profit still came in below our forecasts by ~10.4%. For 9M11, revenue and net profit growth of 9.3% and 56.9% met 71.0% and 69.6% of our FY2011 estimates, respectively.
"We cut our FY2011/FY2012 revenue and net profit forecasts by 5.7%/7.2% and 7.1%/2.7%, respectively. Fair value estimate decreases from $1.52 to $1.37, potential upside of 15.1%. MAINTAIN BUY."
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