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Last $0.59 USD
Change Today +0.0597 / 11.26%
Volume 41.1K
CHLN On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

china housing & land develop (CHLN) Key Developments

China Housing and Land Development, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Revenue Guidance for the First Quarter of 2015

China Housing and Land Development, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total revenue was $44.9 million compared to $56.1 million in the fourth quarter of 2013. Operating income was $15.7 million compared to $6.0 million in the fourth quarter of 2013. Net loss attributable to the company was $16.1 million, or $0.46 per diluted share, compared to net income attributable to the company was $3.9 million, or $0.11 per diluted share, in the fourth quarter of 2013. For the year, the company reported total revenue was $138.72 million compared to $190.03 million for the same period last year. Net loss attributable to the company was $21.45 million, or $0.62 per diluted share, compared to net income attributable to the company was $11.75 million, or $0.33 per diluted share, for the same period last year. Loss before provision for income taxes was $20.25 million compared to income before provision for income taxes was $16.66 million for the same period last year. Net cash used in operating activities was $29.43 million compared to $68.77 million for the same period last year. Purchase of property and equipment was $9.82 million compared to $5.79 million for the same period last year. Net debt outstanding as of December 31, 2014 was $323.5 million compared with $300.7 million on December 31, 2013. The company provided revenue guidance for the first quarter of 2015. Total contract sales for the 2015 first quarter are expected to be in the range of $18 million to $22 million, compared with $34.3 million in the 2014 fourth quarter and $19.8 million in the first quarter of 2014.

China Housing and Land Development, Inc. to Report Q4, 2014 Results on Mar 30, 2015

China Housing and Land Development, Inc. announced that they will report Q4, 2014 results at 9:00 AM, China Standard Time on Mar 30, 2015

China Housing and Land Development, Inc., Q4 2014 Earnings Call, Mar 30, 2015

China Housing and Land Development, Inc., Q4 2014 Earnings Call, Mar 30, 2015

China Housing and Land Development, Inc. Announces Executive Changes

On December 22, 2014, the board of directors of the China Housing and Land Development, Inc. appointed Mr. Pingji Lu to serve as Chief Executive Officer, effective January 1, 2015. In accordance with the terms of the agreement between the Company and Mr. Xiaohong Feng, his term to serve as Chief Executive Officer will expire on December 31, 2014 and his position as Chief Executive Officer and employment will thus terminate on the same date.

China Housing & Land Development Announces Receipt Of NASDAQ Notice Of Bid Price Deficiency

China Housing & Land Development, Inc. announced that it received notice from the NASDAQ OMX GROUP (Nasdaq) stating that the bid price of the Company's common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing by the continued listing requirements of NASDAQ listing rule 5450(a)(1). In accordance with listing rule 5810(c)(3)(A), the Company has 180 calendar days, or until June 20, 2015, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require in some circumstances, but generally not more than 20 consecutive business days) before June 20, 2015. In the event the Company does not regain compliance within this compliance period, it may still be eligible for an additional period to regain compliance under certain circumstances. The Company intends to actively monitor the closing bid price of its common stock between now and June 20, 2015 and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.

 

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