China Housing & Land Development Inc. (CHLN) Posts Solid Q3 Results, Boosted by Better-than-Expected Sales Performance
China Housing & Land Development Inc. develops residential and commercial properties in northwest China. The company today announced its unaudited financial results for the third quarter ended September 30, 2009, posting a 215 percent increase in revenues. CHLN reported revenues at $23.8 million, an increase of 215.3% from $7.5 million as compared to the same period of 2008, up 5.3% from $22.6 million in the second quarter of 2009. The company attributes the increase mainly from its JunJing II phase one and two projects, which are under construction. "We are pleased with our results for the third quarter as we…