SHENZHEN, China, May 8 /PRNewswire-Asia-FirstCall/ -- Universal Travel Group (OTC Bulletin Board: UTVL) ("Universal Travel Group" or the "Company"), a growing travel services provider in the People's Republic of China ("PRC") specializing in online and customer representative services to the travel service industry offering packaged tours, air ticketing, hotel reservation and air cargo agency services, today corrects its prior fiscal year 2009 earnings per fully diluted share guidance announced May 6, 2009.
For the fiscal year 2009, the Company maintained it previous forecasts for sales and net income to range from $88.0 to $96.0 million and $16.8 to $18.0 million, respectively. It estimates earnings per basic share guidance to be in a range of $1.20 to $1.29 and corrects its previously issued earnings per fully diluted share guidance, which it now estimates to be in a range of $1.07 to $1.15 for fiscal year 2009. Net income and EPS estimates exclude stock-based compensation and reflect the recent three-for-one reverse stock split.
The Company remains optimistic due to the increased activities in the travel and leisure industry in the PRC, as well as its comprehensive marketing strategies and online service platform.
http://www.andhranews.net/Intl/Web/13-44.asp
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