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What: Shares of battery manufacturer China BAK Battery
So what: Fourth-quarter results for China BAK were pretty disappointing across the board. Revenue of $56 million was down 3% from last year and missed analyst estimates of $61 million. On the bottom line, the company reported a diluted loss per share of $0.14, worse than the $0.02-per-share loss last year and well off the $0.01 profit that Wall Street expected. While the company is hoping to improve its balance sheet, it ended the year still looking pretty unsteady, with $179 million in total debt versus $150 million in shareholders' equity. The disappointment over the results was only compounded by the announcement that the company's CFO is departing, a development that rarely fails to raise investor concern.
Now what: It's been a rough day for a handful of battery manufacturers as Advanced Battery Technologies
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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.