Market Report -- In Play (WATG)January 21, 2009 11:16 AM ET
Wonder Auto Technology Inc (WATG) Stock Quote, Chart, News, Add to Watchlist
Wonder Auto Tech lowers FY08 and FY09 revs guidance Co sees FY08 revs over $140 mln, down from prior guidance of over $150 mln, vs $140.52 mln First Call consensus and FY09 revs over $200 mln, down from prior guidance of $220-230 mln, vs $192.93 mln First Call consensus. "The global economy has shown a downturn trend after the subprime mortgage crisis in 2008, which has led to a slowdown of the growth rate for China's domestic auto market and export market. Accordingly, the company has adjusted its perspective performance because of the weak fourth quarter financials affected by the changing environment, but we will still be able to maintain a growth rate of 37% for the whole of 2008."
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