DALLAS, March 5, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring China BAK Battery Inc. (Nasdaq:CBAK). The report includes financial, comparative and investment analysis, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/CBAK
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China BAK Battery Inc. (CBAK) is a manufacturer of rechargeable lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries used to power various applications comprising cellular phones; notebook computers; portable consumer electronics, such as digital cameras, portable media players, portable gaming devices and personal digital assistants (PDAs); and other applications, including cordless power tools, mining lamps, light electric vehicles and hybrid electric vehicles. The Company's products are packed into batteries by third-party battery pack manufacturers in accordance with the specifications of manufacturers of portable electronic applications. At the request of customers that order prismatic battery packs, CBAK also engages battery pack manufacturers to assemble its prismatic cells into batteries for a fee and then sell battery packs to these customers both for the replacement and OEM markets.
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In the report, the analyst notes:
"During the first quarter of fiscal year 2010, CBAK generated $50.2 million in net revenues, down 12.7% from $57.6 million in the last quarter of 2009 and down 26.2% from $68.1 million in the first quarter of 2009. The Company stated that the decrease was attributable to slower sales of cylindrical battery cells caused by fierce market competition on price."
"Operating against the backdrop of a still weak global economic environment, CBAK continued to implement its aggressive cost management program to reduce costs and expenses and enhance its quality control during its first quarter of fiscal year 2010, resulting in a 19% improvement in gross margin."
To read the entire report visit: http://www.stockpreacher.com/n/CBAK
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