ORLANDO, Fla., Sept. 22, 2010 (GLOBE NEWSWIRE) -- The previously issued press release, entitled "RedChip President Reiterates Bullish Outlook on L&L Energy," omitted a direct link to the proper required disclosure. RedChip Companies would like to clarify that L&L Energy, Inc. is a RedChip client; full disclosure regarding compensation and client services provided is available to all investors by following the first link provided in the original press release. From the L&L Energy client home page, please select the "Disclosure" link available on the left side or at the bottom of the page.
To view the disclosure directly, click here: http://www.redchip.com/visibility/investor.asp?symbol=LLEN&show=disclaimer
The following is the text of the original release.
RedChip Companies, Inc. announced today that its President and CEO, Dave Gentry, reiterated his positive outlook on L&L Energy, Inc. (Nasdaq:LLEN), a U.S.-based company operating coal mining and distribution businesses in China.
According to Mr. Gentry, "The recent sell-off in L&L Energy, Inc. (Nasdaq:LLEN) was unwarranted and created a rare buying opportunity. The Company has no accounting issues or deficiencies and has undergone rigorous due diligence by bankers and institutional investors."
The remainder of Mr. Gentry's remarks are as follows:
Norman Mineta, former US Transportation Secretary and Commerce Secretary, recently joined the Company's Board of Directors and has been appointed Vice Chairman of the Board. Mr. Mineta has an extensive background in politics and business, and the fact that a public figure of his stature would commit to being on L&L's board lends significant credibility to the Company.
LLEN is an American company with coal operations in China that generated revenues of $109 million, a year-over-year increase of 167%, and earnings of $33 million, a 230% increase, in fiscal 2010. It recently generated 395% revenue growth and 306% net income growth in the first quarter of fiscal 2011. Management projects net income of $46 million for fiscal 2011 on $218 million in organic revenues.
Four-fifths of China's electricity is generated by coal. China became a net importer of coal in 2009 and had net imports of 71 million metric tons in the first half of 2010. LLEN is executing a major roll-up of smaller mines in China and has set its goal on becoming a $1 billion revenue company over the next 3-5 years.
The company is on track to generate $46 million in net income without acquisitions in fiscal 2011. With trailing EPS of $1.51, a 10x P/E would put the stock at $15.00 and a 20x P/E at $30.00. The company is expected to make several acquisitions this fiscal year, which could put net income considerably higher than management's guidance. Smart investors will accumulate this stock at current levels and hold.
To learn more about L&L Energy or to view analyst research, management presentations, radio interviews, and more, please visit:
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