Breaking Finance News

L and L Energy Higher on Strong Preliminary Results (LLEN)

Shares of L & L Energy (NASDAQ: LLEN) spiked higher around 2:30 p.m. EDT after the company pre-announced positive fiscal year 2013 results. The stock is currently up 10 percent on the news.

L & L announced revenue of $198.8 million with net income  of $40 million. EPS excluding a non-cash derivative loss came in at $1.08 per share.

L&L’s Chief Financial Officer, Ian Robinson, commented,

“We are pleased to share our preliminary financial highlights with our investors. We have demonstrated tremendous year-over-year growth and we look forward to releasing our final results in detail on, or before Tuesday, July 30, 2013. Management will also host a conference call to discuss our FY2013 results on Wednesday, July 31.”

L & L Energy is a $129 million dollar company which, through its subsidiaries, engages in the coal mining, clean coal washing, coal coking, and coal wholesale businesses in China.

[stock-tools exchange="NASDAQ" symbol="LLEN" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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