HollySys Automation Technologies, Ltd. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Fiscal Year Ended June 30, 2014; Provides Earnings Guidance for the Year Fiscal Year 2015
Aug 13 14
HollySys Automation Technologies, Ltd. reported unaudited consolidated financial results for the fourth quarter and fiscal year ended June 30, 2014. For the quarter, on Non- GAAP basis, the company reported revenues of $158,851,000 against $113,432,000 a year ago. Income from operations was $34,243,000 against $21,700,000 a year ago. Non-GAAP net income attributable to the company was $25,755,000 or $0.44 per basic and diluted share against $16,556,000 or $0.29 per basic and diluted share a year ago.
For the year, Non- GAAP basis, the company reported revenues of $521,332,000 against $349,055,000 a year ago. Income from operations was $105,500,000 against $62,149,000 a year ago. Non-GAAP net income attributable to the company was $87,171,000 or $1.49 per diluted share against $57,605,000 or $1.02 per diluted share a year ago.
For the quarter, on GAAP basis, the company reported revenues of $158,851,083 against $113,432,066 a year ago. Income from operations was $31,962,544 against $18,823,279 a year ago. Income before income taxes was $31,649,919 against $17,583,817 a year ago. Net income attributable to the company was $21,494,490 or $0.36 per diluted share against $12,516,241 or $0.22 per diluted share a year ago. Net cash provided by operating activities was $45,198,958. Purchases of property, plant and equipment was $1,688,224.
For the year, on GAAP basis, the company reported revenues of $521,331,846 against $349,055,002 a year ago. Income from operations was $97,101,436 against $57,702,105 a year ago. Income before income taxes was $91,543,958 against $60,617,681 a year ago. Net income attributable to the company was $69,852,066 or $1.20 per diluted share against $51,994,402 or $0.92 per diluted share a year ago. Net cash provided by operating activities was $84,816,095. Purchases of property, plant and equipment was $8,359,115.
The company set guidance for fiscal year 2015 with revenue in the range of $565 million to $600 million and non-GAAP net income in the range of $94 million to $98 million. Excluding the withholding tax impact, the effective tax rate for the coming year is 20.4%. Beijing Hollysys and HangZhou Hollysys are now in the process of renewing their high-tech certification which will grant the company as a preferential tax rate of 15% for calendar year 2014 through to 2016 and expected to get a renewal certificate in late 2014.
Hollysys Automation Technologies, Ltd. Signs Contract to Provide Ground-Based High-Speed Rail Signaling System and Equipments to Shenyang - Dandong High-Speed Rail Line
Jul 21 14
Hollysys Automation Technologies, Ltd. announced that it signed a contract to provide the ground-based high-speed rail signaling system and equipments to Shenyang - Dandong high-speed rail line (‘Shendan Line’), valued at RMB 50.92 million or approximately USD 8.28 million in total, with designed running speed of 250 km/h. Shendan Line is expected to be operated by August 2015. The ground-based high-speed rail signaling system and equipments include Train Control Centers (TCC), Temporary Speed Restriction Servers (TSRS), Line-side Electronic Units (LEU) and other auxiliary equipments, work together with the on-board signaling equipment ATP (Automatic Train Protection), as the critical control elements in the high-speed railway signaling systems to ensure the safety and reliability of the high-speed railway operation. Shendan Line connects Shenyang city and Dandong city with designed total 8 stations and a total length of 207 kilometers. Shendan Line will start from Harbin-Dalian Line ("Hada Line"), then pass by Benxi Economic Development Area, Benxi city, Fengcheng city, and then arrive in Dandong city with 8 stations along the route. After the operation of Shendan Line, it will only take approximately 1.5 hours from Shenyang to Dandong, which will effectively reduce the travel time of passengers. Through connecting with Hada Line and Dandong-Dalian Line ("Danda Line"), intercity triangle zone of mid-south rail network of Liaoning Province is formed as the main frame, improving the layout of high speed rail network as well as accelerating development of mid-south Liaoning Province urban cluster, and providing convenient travelling condition for industrial parks to collaborate within the Liaoning Coastal Economic Zone.