China Industrial Waste Management, Inc. (CIWT)

CIWT Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2010	FY 2009	FY 2008	FY 2007	FY 2006
Period Ending	Jun 30, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007	Dec 31, 2006
Revenue	27.17	21.78	10.56	13.4	9.54	6.38
Revenue Growth (YoY)	75.08%	106.18%	-21.18%	40.47%	49.45%	31.09%
Cost of Revenue	12.9	9.17	4.19	4.15	2.78	1.82
Gross Profit	14.27	12.6	6.38	9.25	6.76	4.56
Selling, General & Admin	6.27	5.43	4.62	3.6	3.6	2.21
Research & Development	0.4	0.36	0.51	-	-	-
Operating Expenses	6.68	5.79	5.13	3.6	3.6	2.21
Operating Income	7.59	6.81	1.24	5.65	3.16	2.35
Interest Expense	-1.09	-1.01	-0.17	-	-	-
Interest & Investment Income	0.09	0.08	-	-	0.09	0.03
Other Non Operating Income (Expenses)	0.52	0.27	0.24	0.33	-0	0.19
EBT Excluding Unusual Items	7.12	6.16	1.32	5.97	3.24	2.57
Impairment of Goodwill	-	-	0.61	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-0.05	-
Legal Settlements	-	-	-	-	0.86	-
Other Unusual Items	-	-0.44	-	-	-	-
Pretax Income	7.12	5.72	1.93	5.97	4.06	2.57
Income Tax Expense	0.91	0.69	-0.05	0.66	-	0
Earnings From Continuing Operations	6.21	5.02	1.98	5.31	4.06	2.57
Earnings From Discontinued Operations	-0.14	-	-	-	-0.01	-0.01
Net Income to Company	6.07	5.02	1.98	5.31	4.05	2.56
Minority Interest in Earnings	-0.5	-0.52	-0.02	-0.56	-0.36	-0.23
Net Income	5.57	4.5	1.96	4.75	3.69	2.33
Preferred Dividends & Other Adjustments	-	-	-	0	-	-
Net Income to Common	5.57	4.5	1.96	4.75	3.69	2.33
Net Income Growth	77.18%	129.82%	-58.77%	28.81%	58.28%	56.06%
Shares Outstanding (Basic)	15	15	15	14	13	13
Shares Outstanding (Diluted)	15	15	16	14	13	13
Shares Change (YoY)	-11.85%	-5.38%	18.18%	4.04%	0.30%	1.79%
EPS (Basic)	0.36	0.29	0.13	0.35	0.28	0.18
EPS (Diluted)	0.36	0.29	0.12	0.35	0.28	0.18
EPS Growth	111.35%	141.67%	-65.24%	23.70%	57.81%	53.31%
Free Cash Flow	-7.45	-5.83	-12.73	-5.2	3.84	2.25
Free Cash Flow Per Share	-0.48	-0.38	-0.78	-0.38	0.29	0.17
Gross Margin	52.53%	57.88%	60.37%	68.99%	70.89%	71.45%
Operating Margin	27.94%	31.29%	11.78%	42.13%	33.12%	36.85%
Profit Margin	20.51%	20.68%	18.55%	35.43%	38.67%	36.51%
Free Cash Flow Margin	-27.41%	-26.79%	-120.50%	-38.81%	40.25%	35.19%
EBITDA	10.2	9.18	2.45	6.39	3.65	2.71
EBITDA Margin	37.55%	42.16%	23.23%	47.66%	38.31%	42.47%
D&A For EBITDA	2.61	2.37	1.21	0.74	0.49	0.36
EBIT	7.59	6.81	1.24	5.65	3.16	2.35
EBIT Margin	27.94%	31.29%	11.78%	42.13%	33.12%	36.85%
Effective Tax Rate	12.77%	12.13%	-	11.05%	-	0.02%
Revenue as Reported	27.17	21.78	10.56	13.4	9.54	6.38

Source: S&P Global Market Intelligence. Standard template. Financial Sources.