Longtop: update

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(Updated) I used the revenue number from company report and calculated the growth rate, using google spreadsheet. Revenue, in thousand of $, the following columns may not align right, click the G speadsheet above if you like.

FY ending
3/31/2007 3/31/2008 growth rate 3/31/2009 growth rate
Q1 9238 11530 24.81% ?
Q2 11204 20200 80.29% ?
Q3 11581 15500 33.84% ?
Q4 7750 10770 38.97% ?
Total 39773 58000 45.83% 80000 37.93%

Couple things:
1) Seasonality: the past quarter (ending Sept. 30) is the strongest. The company did say summer and fall are typical strong quarters. Note the seasonality is quite different from typical US software company, where Q4 (quarter ending Dec 31) is ususally the strongest.

2) Healthy growth overall. The recent boom can be attributed to the boom of Chinese banking industry. The question is can the company can sustain this 40% growth rate?

(Original) A week after Nov. 19 conference call, Longtop put up adjusted fiscal 2006 and 2007 financial statements here at its IR site. Pretty fast. Although there is no credibility issue here because the company did adjustment mainly because of the change of the fiscal year, I would be careful here. I am going to read it, digest it and do my homework using google spreadsheet.

Separately, did you see Deckers (Nasdaq: DECK; the maker of UGG boots) fly high in last 2 trading sessions?

Another Crocs in the making 🙂

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