(ASIA) AsiaInfo Holdings, Inc. – Momentum – Zacks Rank Buy

April 1st, 2009

AsiaInfo Holdings, Inc. (ASIA) is rallying in respone to another strong quarter and a bullish earnings projection.

Company Description

AsiaInfo Holdings, Inc. provides telecom software solutions and information technology security products and services in China. The company was founded in 1993 and has a market cap of $733 million.

China has experienced its fair share of market volatility over the last 12 months, much like the United States. But this dynamic did not prevent AsiaInfo from producing strong fourth-quarter results, reported on Feb 11.

Fourth-Quarter Results

Revenue was up 31.7% from last year to $53.7 million. Income came in at $7.8 million, a 55% increase from last year. This produced earnings of 20 cents per share, 5 cents ahead of the consensus estimate.

This was the fourth time in the last four quarters that the company has either beat or matched expectations, having done so by an average of 4 cents, or 29%.

Estimates

The one analyst covering this stock boosted his earnings estimates after the solid quarter, with the current-year climbing 4 cents to 72 cents per share. The next-year estimate is pegged at 91 cents, a bullish 26% earnings growth projection.

The Chart

Shares of ASIA have been on a big rally since early February, jumping from $8.50 to a recent high over $17.50. The MACD still looks bullish, with the short-term average ahead of the long-term average. Take a look below.


Zacks Investment Research
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More on this topic (What's this?)
AsiaInfo Holdings (ASIA): An Asian Flyer Takes Off (The Iconoclast Investor, 3/30/09)
Bookkeeping: Beginning Placeholder Stake with AsiaInfo Holdings (ASIA) (Fund my Mutual Fund, 8/11/09)
HOW SEVERELY WILL ASIA BE AFFECTED? (THE PRAGMATIC CAPITALIST, 3/8/09)
Bookkeeping: Selling Most AsiaInfo Holdings (ASIA) on 10%+ Spike (Fund my Mutual Fund, 8/18/09)
Read more on AsiaInfo Holdings at Wikinvest

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