DRGV Dragon Capital Group Corp (PK)

Stock Market Alerts' performance stock list includes: Dragon Capital Group Corp. (PINKSHEETS: DRGV), Citigroup, Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC) and Baidu Inc. (NASDAQ: BIDU).

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Yesterday after the markets closed, Dragon Capital Group (PINKSHEETS: DRGV) issued a press release announcing its financial results for the second quarter and first six months of 2010 ended June 30, 2010.

According to the release, revenue for the second quarter ended June 30, 2010 was $15.4 million as compared to $15.0 million recorded in the second quarter of 2009. Cost of goods sold for the second quarter of 2010 were $14.7 million compared to $14.1 million in the second quarter of 2009. Net income for the second quarter of 2010 was $277,800, increasing 123% from the $124,500 recorded in the second quarter of 2009. The increase in net income was largely attributable to a decrease in selling expenses as the overall economic environment improved when compared to the same period in 2009.

Revenue for the first six months of 2010 reached $27.8 million, a slight increase from the $26.9 million recorded in the first six months of 2009. For the first six months of 2010, net income attributable to Dragon Capital Group Corp. was $126,000, a significant improvement from the net loss of ($554,000) recorded in the first six months of 2009. The improvement was attributable to a reduction in selling expenses and a loss recorded in 2009 from the sale of its Fomde subsidiary.

At June 30, 2010, total assets were $16.3 million with $16.0 million in current assets. This compares to total assets of $15.2 million with $14.9 million in current assets at December 31, 2009. At June 30, 2010, shareholder equity improved to $7.7 million with working capital of $8.6 million compared to shareholder equity of $7.4 million with working capital of approximately $8.2 million at December 31, 2009.

Mr. Lawrence Wang, CEO of Dragon Capital Group, stated, "We are extremely pleased with our performance in the first six months of 2010. We have substantially improved our bottom line performance as we continue to increase our revenue. As the overall economic environment in China continues to improve for our business, we believe we can continue to build on these positive trends. We are committed to achieving continued top line and bottom line growth as we move into the second half of 2010. We remain focused on achieving higher operating efficiencies which we believe can extend our profitability into the coming years as we work diligently to increase our shareholder value."

The stock closed yesterday at a Penny a share.

Citigroup, Inc. (NYSE: C) down 0.7% on 366.4 million shares traded. Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries.

Bank of America Corp. (NYSE: BAC) down 2.6% on 123.7 million shares traded. Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Baidu Inc. (NASDAQ: BIDU) up 6.1% on 21 million shares traded. Baidu, Inc. is the leading Chinese language Internet search provider.

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