Exceed Co. Ltd. (NASDAQ: EDS), a designer, developer and seller of footwear apparel and accessories, today, announced its full-year 2011 financial results and provided guidance for 2012. The announcement has sent shares of the China-based company sharply higher in trading today.
EDS shares rose to an intra-day high of $3.86 in trading today, and at last check, the stock was trading 61.36% higher at $3.37 on above average volume of 998,895.
Exceed, which owns and operates the Xidelong brand, reported total revenue of $522.5 million for the full-year ended December 31, 2011. EDS’ gross profit for the year was $157.7 million. Operating profit for 2011 stood at $79.2 million. The company’s net profit for the full year was $74.7 million.
Shuipan Lin, Chairman and CEO of Exceed Co., said that EDS is pleased to report healthy results for the full year 2011, with over 20% growth in revenue and 30% growth in net income.
Exceed also provided guidance for the first quarter of fiscal 2012. The company expects to generate net revenue of RMB841.6 million to RMB864.1 million in the first quarter of 2012.