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Last C$0.66 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 10:43 AM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

migao corp (MGO) Snapshot

Open
C$0.66
Previous Close
C$0.66
Day High
C$0.66
Day Low
C$0.66
52 Week High
09/18/14 - C$1.70
52 Week Low
08/24/15 - C$0.57
Market Cap
34.6M
Average Volume 10 Days
15.6K
EPS TTM
C$0.09
Shares Outstanding
52.5M
EX-Date
02/15/13
P/E TM
7.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for MIGAO CORP (MGO)

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migao corp (MGO) Details

Migao Corporation, through its subsidiaries, produces and sells specialty potash-based fertilizers for agricultural markets in the People’s Republic of China. It offers potassium nitrate, potassium sulphate, and compound fertilizers as well as co-products, such as ammonium chloride and hydrochloric acid. The company sells its products to tobacco, fruit, and plant and vegetable growers. Migao Corporation was founded in 2003 and is headquartered in Vancouver, Canada.

1,290 Employees
Last Reported Date: 06/29/15
Founded in 2003

migao corp (MGO) Top Compensated Officers

Founder, Executive Chairman, Chief Executive ...
Total Annual Compensation: C$297.5K
Chief Financial Officer
Total Annual Compensation: C$96.3K
Vice President of Corporate Finance and Compa...
Total Annual Compensation: C$186.9K
Vice-President of Sichuan Migao and Director
Total Annual Compensation: C$17.6K
Compensation as of Fiscal Year 2014.

migao corp (MGO) Key Developments

Migao Corporation Announces Consolidated Earnings Results for the First Quarter Ended June 30, 2015

Migao Corporation announced consolidated earnings results for the first quarter ended June 30, 2015. For the period, the company’s revenues were $116.7 million, representing $57.4 million (97%) increase from $59.2 million for the quarter ended June 30, 2014. The revenue increase for the quarter ended June 30, 2015, is mainly due to increased sales of all products except for potassium nitrate primarily as a result of significantly higher sales volumes of potassium chloride and ammonium chloride sold during the current quarter, coupled with higher average selling price for potassium sulphate achieved during the quarter ended June 30, 2015, compared with one year ago. Net loss was $5.4 million or $0.10, per basic and diluted share, compared to a net profit of $0.4 million or $0.01 per basic and diluted share for the same quarter one year ago. LBITDA was $121,000 against EBITDA of $4,452,000 a year ago. Cash and cash equivalents was $8.5 million as at June 30, 2015, compared to $14.7 million as at March 31, 2015. The decrease in cash and cash equivalents during the quarter ended June 30, 2015 was mainly a combined results of $47.7 million of cash used in operations, a net $1.5 million of cash used in investing activities mainly as a result of $1.5 million used in the purchase of plant and equipment, as well as a net $43.3 million of cash provided in financing activities primarily from cash inflow of $47.0 million from loan drawdowns, net off by loan interest payment for $3.7 million. The impact from the changes in foreign exchange rates on the cash flow was approximately $0.6 million for the quarter ended June 30, 2015.

Migao Corporation Announces Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015

Migao Corporation announced earnings results for the fourth quarter and full year ended March 31, 2015. For the quarter, the company reported revenue of $208,744,000 against $233,934,000 a year ago. Profit was $7,555,000 against loss of $22,642,000 a year ago. EBITDA was $13,087,000 against LBITDA of $14,277,000 a year ago. Diluted earnings per share were $0.14 against LPS of $0.43 a year ago. The decrease in revenue for the current quarter was mainly attributed to lower average sales prices realized from all products except for potassium sulphate during the quarter, coupled with decreased sales volume for potassium sulphate, potassium nitrate, ammonium chloride and compound fertilizers, compared with the same quarter last year. For the year, the company reported revenue of $444,487,000 against $369,312,000 a year ago. Profit was $12,654,000 against loss of $58,223,000 a year ago. EBITDA was $28,930,000 against LBITDA of $42,434,000 a year ago. Diluted earnings per share were $0.24 against LPS of $1.11 a year ago. The revenue increase for the year ended March 31, 2015, is mainly due to increased sales of potassium sulphate, potassium nitrate and potassium chloride (direct sales) primarily as a result of higher sales volumes for these products, coupled with higher average selling price for potassium sulphate achieved during the year ended March 31, 2015, compared with one year ago.

Migao Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Migao Corporation reported earnings results for the third quarter and nine months ended December 31, 2014. For the third quarter, the company reported revenues of $125.493 million for the third quarter ended December 31, 2014, representing $52.3 million (71%) increase from $73.192 million for the quarter ended December 31, 2013. The revenue increase for the quarter ended December 31, 2014 is mainly due to increased sales of potassium sulphate, potassium nitrate and potassium chloride (direct sales) primarily as a result of higher sales volumes for these products, coupled with higher average selling price for potassium sulphate during the quarter ended December 31, 2014 compared with the same quarter one year ago. Strong market demands for potassium sulphate continued into the third quarter of fiscal 2015. The above sales increases were partly offset by approximately $15.3 million decreases in sales of compound fertilizers, ammonium chloride as well as hydrochloric acid. The sales decreases in compound fertilizers and ammonium chloride were mainly caused by lower sales volume as well as lower average selling prices for these products during the current quarter as compared with the same period last year. Weak market demands contributed to the decreasing sales volume and average selling prices. The effect of increased sales volume of hydrochloric acid was offset by the decline in the average selling prices as the market demands were limited by the slow-down of the Chinese economy. The appreciation of Chinese Yuan (RMB) against Canadian dollar also contributed to the higher dollar sales reported in the third quarter of fiscal 2015. EBITDA was $7.872 million against LBITDA of $10.560 million a year ago. As a result, for the three months ended December 31, 2014, the company reported a net profit of $5.0 million or $0.09 per basic and diluted share, as compared with a net loss of $11.9 million or $0.23 per basic and diluted share for the same quarter last year. For the nine months, the company reported total revenue of $235.743 million as compared with revenue of $135.378 million for the nine months ended December 31, 2013. The company reported a net profit of $5.099 million or $0.10 per basic and diluted share for the most recent nine-month period as compared with a net loss of $35.6 million or $0.68 per basic share for the same nine-month period one year ago. EBITDA was $15.483 million against LBITDA of $28.157 million a year ago.

 

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Price/Earnings 4.8x
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Price/Cash Flow 4.8x
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