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Stock of the Day: Sino-Global Shipping America, Ltd (SINO) PDF Print E-mail
Stock of the Day - Daily Article
Written by MsEconometrica   
Friday, 22 July 2011 04:46

Sino-Global is a leading, non-state-owned provider of high-quality shipping agency services that registered in the United States in 2001. Sino-Global brings easy Access and increased efficiency to international ship owners, and operators. On July 1, 2003, Sino-Global  entitled to attend vessels in every commercial port, in China.  SINO has a head office in New York U.S.A.. Sino-Global has operational headquarters in Beijing-China. Sino-Global provided services to ships from origins including Australia, Greece, Hong Kong, Thailand, South Korea, Switzerland, Italy, Norway and the United States throughout 2009. On 2010 and 2011, Sino-Global  named as one of the top 10 best shipping company at the7th and 8th China Freight Industry Award Ceremony. On July 20, 2011, SINO announced that its affiliate, Sino-China, has reached a Strategic Cooperation Agreement with COSCO Container Shipping Agency. COSCO Container Shipping Agency is one of the greatest multinational enterprises in the world and the world’s leading group that specializing in global shipping, modern logistics and ship building and repairing. COSCO has more than 50 offices in coastal cities, in China, Guangzhou, Dalian, Shanghai, Qingdao, Tianjin, Shenzhen, Xiamen and Ningbo.


Let’s look at the company’s financial analysis. Sino-Global has a market cap of $18.33 million. Revenues for the third quarter of fiscal 2011 were $9.06 million. Revenues were $6.02 million for the same period of 2010. It was an increase of 50.6%. Cost of revenues was $8.2 million in the third quarter of 2011 and $6.0 million for the same period of 2010. It was an increase of 57.1%. It is easy to see cost of revenues increased faster than revenues. SINO had a strong balance sheet with $5.3 million in cash and working capital of $4.48 million for the third quarter of 2011. Last Friday SINO closed at PHP 0.365, up by 14.06%.  On July 20th Sino-Global Shipping America was the gainer of the day, up 2.66 to 4.43. SINO jumped %150 after announcing its affiliate, Sino-China, has reached a Strategic Cooperation Agreement with COSCO Container Shipping Agency. SINO had traded below their 52 week high range which was $4.65. On July 21th, shares of SINO were trading up almost 45% at $6.32 on NASDAQ. Sino-Global Chief Executive Cao Lei said: "By signing the agreement, we intend to expand our local agency services through the highly-regarded network of COSCO Container Shipping Agency". Let's wait and see; how long it will continue this rising!


Last Updated on Friday, 22 July 2011 14:17
 

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