China Fire & Security Group trading under the symbol (NasdaqCM; CFSG) closed Monday At $14.47 up $2.41 or19.98%. China Fire & Security Group a big player in the fire-safety market stepped into the spotlight and announced the company won a contract worth $92 million for retrofitting projects. On the news, the company upped its 2010 earnings projection to $1.65 to $1.70 a share on revenue ranging between $135 million to $145 million. To learn more about CFSG visit www.wallstreetgrand.com where we focus on market moving news.
Wall Street financial analysts have forecast earnings of $1.29 a share on $117 million in revenue.
The contract is from Wuhan Iron & Steel Group based in Qingshan, China and involve China Fire & Security bringing Wuhan’s plants up to code with regard to fire protection.
"With this large win, we have further increased the gap between us and our closest competitors in the iron and steel industry," said China Fire CEO Gangjin Li in a statement.
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