China BAK Battery Inc. (Shenzen, China), a commercial manufacturer of lithium-ion (Li-ion) rechargeable batteries for portable electronic and electric bicycle applications, reported preliminary financial results for the third-quarter and nine-month periods ended June 30, 2005. The company anticipates announcing its final results for the fiscal 2005 third quarter by August 15, 2005.
For the third quarter, management expects to report revenue of approximately $24.2 million. Net income for the quarter is expected to be approximately $3.4 million, or $0.09 per diluted share. For the first nine months ended June 30, 2005, the company expects to report revenue of approximately $75.2 million. Net income for the nine-month period is expected to be approximately $7.7 million, or $0.23 per diluted share. These results are preliminary and actual results could vary when the company reports its final results for the third quarter.
