(KONG) KongZhong CP ADS – Sales For The Period Were Up 40%

November 30th, 2009

KongZhong CP ADS (KONG) is pressuring a long-term trend line at $13.50 after reporting better than expected Q3 results on Nov 11.

Third-Quarter Results

Sales for the period were up 40% from last year to $35.1 million. Earnings also came in strong at 12 cents per share, 2 cents ahead of the Zacks Consensus Estimate. The company has beat in each of the last three quarters by an average of 76%.

Margin and Cash

KongZhong’s gross profit took a nice jump forward Incorporatedreasing by 54% from last year to $17.92 million. The company also continues to grow its cash position, now up to $134 million.

Estimates

The current-year estimate has added 4 cents in the last month and now stands at 40 cents. The next-year estimate is pegged at 52 cents, a 31% growth projection.

The Chart

Shares of KONG are pressuring a long-term trend line after pulling back a bit from the recent 52-week high, take a look below.

Last Week’s Momentum Stock Articles

Travelzoo Inc. (TZOO) is pressuring its 52-week high after reporting better than expected third-quarter results on Oct 28. Read Full Article.

MicroStrategy Inc. (MSTR) recently jumped higher after the company reported better than expected Q3 earnings. Estimates are also on the rise, with the next-year estimate projecting 13% earnings growth. Read Full Article.

Arena Resources Inc. (ARD) has posted big gains over the last 8 months on strong earnings and elevated energy prices. Read Full Article.

Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Surprise Trader.
Zacks Investment Research

More on this topic (What's this?)
KongZhong Falls Back to Earth (Fusion Investing and Analysis, 12/12/09)
KongZhong Blows Estimates Away Again (Fusion Investing and Analysis, 8/10/09)
War Heats Up: CP Sends Another Letter to Shareholders about Bill Ackman (Value Investing, 1/9/12)
Bill Ackman Going Activist on Canadian Pacific Railway Management (Value Investing, 12/30/11)
Read more on KongZhong, Canadian Pacific Railway at Wikinvest

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