Synutra Sees Management Churn - Analyst Blog
06 Setembro 2011 - 7:45AM
Zacks
Rockville, Maryland-based
Synutra International, Inc (SYUT)
recently announced that its Chief Financial Officer (CFO) Donghao
Yang has resigned to pursue other opportunities.
Yang joined the infant formula
company in China as CFO in June 2010 and utilized all his expertise
and experience to improve the company’s top line and narrow down
the losses. Yang has an experience of over 16 years in corporate
finance, commodity trading and international business development.
He will however, continue to guide the company as a member of the
board.
Until a permanent CFO is selected,
Weiguo Zhang will stand in as the CFO. He has been President and
Chief Operating Officer since 2005. Zhang joined Synutra in 2001
and is currently responsible for financial and marketing
operations of the company, including investor relations, corporate
development, and international strategic development. Mr. Zhang is
also a director and a member of the compensation committee and
audit committee of RINO International Corporation
(RINO).
Prior to joining Synutra, Zhang was
the managing director of Bambridge International, Ltd., which he
founded in 1995.
The company’s search for a new CFO
has begun, but we believe Synutra is in safe hands in the
interim.
In the recently concluded first
quarter 2012, the company reported a loss of 17 cents, which was
worse than the Zacks Consensus Estimate of a loss of 7 cents
per share and the year-ago quarter's earnings of 19 cents a
share.
The company’s lower-than-expected
results were due to sluggish revenue. During the quarter, net
sales dipped 47.8% year over year to $43.8 million.
The Zacks Consensus Estimates for
2012 and 2013 are pegged at 25 cents and 70 cents per share,
respectively. The company currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating on the stock. We also
reiterate our long-term Neutral recommendation on the stock.
RINO INTL CORP (RINO): Free Stock Analysis Report
SYNUTRA INTL (SYUT): Free Stock Analysis Report
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