ORLANDO, Fla., Aug. 14, 2009 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has issued a second quarter 2009 research update on China Education Alliance, Inc. (NYSE Amex:CEU), a company offering both online and on-site educational and vocational training and services in China.
Rick Grubbs, CFA, RedChip Research Analyst, reported:
"CEU announced second quarter results that were better than our expectations in just about every metric. With respect to a great quarter, we think sales for the second half of the year will be higher due to seasonality and the increasing penetration of new products. We are also raising our estimate for earnings per share for next two quarters."
Grubbs continued: "Given the company's strong rate of growth in both revenue and earnings, and its debt-free balance sheet, we reiterate our 'Strong Buy' recommendation and raise our target price to $17."
To receive a complimentary copy of the RedChip Visibility Second Quarter Research Update for CEU, please visit: http://www.redchip.com/about/aboutmain.asp?page=vreport&reportid=187&from=pr8142009
To learn more about China Education Alliance, visit http://www.redchip.com/visibility/investor.asp?symbol=CEU.
About China Education Alliance, Inc.
China Education Alliance, Inc. is a fast-growing, leading China-based company offering high-quality education resources and services to students ages 6 to 18 and adults ages 18+ (university students and professionals). For students ages 6 to 18, China Education Alliance, Inc. offers supplemental, online exam-oriented training materials and on-site exam-oriented training and tutoring services. The company is providing on-line, downloadable, famous teachers resources and on-site face-to-face instructions. All resources and tutoring services are provided by famous teachers within mainland China. The purpose of online exam-orientated resources and on-site tutoring is to help Chinese students ages 6 to 18 to pass the two most important and highly competitive exams in their educational career: senior high school entrance exam and college entrance exam. For graduates and professionals age 18+, China Education Alliance provides vocational training including IT and several professional training programs. In addition, the Company is providing comprehensive English programs that are taught by North American instructors to assist graduates and professionals in learning the English language, both written and conversational in order to better able them to work for a foreign corporation or work-study abroad. At present, five English schools are operating nationwide in China. For more information about China Education Alliance, please visit http://www.chinaeducationalliance.com.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Paris and Qingdao, China. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV(tm), Social Media Services, and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
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Disclosure
The analysts contributing to this report do not hold any shares of China Education Alliance, Inc. ("CEU"). RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. CEU is a client of RedChip Companies, Inc. and of RedChip Visibility, a division of RedChip Companies. CEU agreed to pay RedChip Visibility a monthly fee of six thousand five hundred dollars in cash for RedChip Visibility Program services, which includes the preparation of the equity research report(s). The equity research report(s) are prepared for informational purposes only and are paid for by the company portrayed in the report. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. These services may include investor conferences, digital and print distribution of CEU investor-related materials and radio programming. In addition to the monthly cash fee, CEU also agreed to pay RedChip Companies, Inc., thirty thousand shares of Rule 144 common stock for six months of IR services. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein.